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Charts breaking down while indicators turn positive
We had some red flags to deal with coming into this past week and the market acted like it. The TSP stock funds all finished in the red as the bulls were not able to hold onto any attempts at a rally.
Here are the TSP fund returns for the week of May 7 through 11.
The Departmentís official Social Meida accounts have been steadily gaining
The U.S. Air Force saw a surge of Facebook growth --an increase of 7.2 percent from April.
t is the largest increase the Air Force has experienced since the March 2012 surge; where it registered an impressive
Stocks were mixed yesterday as the Dow and S&P 500 closed slightly higher, and the Nasdaq and Dow Transports closed lower. The fireworks came after the close on Thursday as JP Morgan Chase reported a $2 billion dollar trading loss.
TSP Talk Sentiment Survey results for the week of 5/14/12- 5/18/12
Buy: The TSP Talk Sentiment Survey came in at 41% bulls, 51% bears, for a bulls to bears ratio of 0.80 to 1. That is a buy signal which means the system will remain 100% S fund for the week of 5/14/12 -5/18/12.
* We had to delete another 110 duplicate votes from 1 IP address. It is an IP from the FAA offices in the Atlantic City area.
Bull market rules have been in affect since the week
After the intra-day high on May 1, the Wilshire 4500 (roughly representing the S fund) has declined 6%. The chart below shows the wave count. There may be a wave counting variation as a and b could be waves 3 and 4, and waves 3, 4, 5 could be a, b, 5. Regardless of varying technical interpretations, I think it is clear that wave 5 has ended and now a A,B,C counter trend rally is underway. But it may not get far. The standard fibonacci retracements show a range of 691-701 or 2.3-3.8%. I think