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Stocks resumed the uptrend yesterday as the Dow added 28-points, and the broader indices performed even better. Economic data was solid and the dip buyers were back in action.
For the TSP, the C-fund was up 0.62% yesterday, the S-fund gained 0.75%, the I-fund added 0.76%, and the F-fund (bonds) lost 0.24%.
TSP Talk Sentiment Survey results for the week of 3/05/12- 3/09/12
Hold: The TSP Talk Sentiment Survey came in at 54% bulls, 36% bears, for a bulls to bears ratio of 1.50 to 1. That is a neutral reading in a bull market which means the system will remain 100% S Fund for the week of 3/05/12 - 3/09/12.
Bull market rules are in affect since the week of 1/09/12:
See latest survey results
To discuss or comment on the Sentiment Survey, go to Sentiment
The market gapped up at the open and remained in positive territory the entire trading session. Closing prices were off their highs of the day, but gains were moderate nonetheless.
The Seven Sentinel remain in a sell condition, but BPCOMPQ flipped back to a buy on today's action. That's not overly meaningful by itself as internals continue to struggle. But I do think it's indicative that the battle between the bulls and bears will continue
Stocks opened higher yesterday after a couple strong economic reports, but retreated after Ben Bernanke told Congress that unless growth accelerated, the unacceptably high U.S. unemployment rate would not keep dropping. The Dow fell 53-points on the day.
For the TSP, the C-fund was down 0.46% yesterday, the S-fund lost 0.94%, the I-fund
It hasn't happened very often over the past two and a half months, but the bears managed to win a battle for a change. Losses were moderate overall.
The Seven Sentinels remain in a sell condition with NAMO and NYMO continuing to fall lower. This has been a warning sign for the past couple of weeks. Whether we head lower in earnest remains to be seen, but risk is definitely elevated.