All Blog Entries

Investors seem unafraid of the big week that is about to unfold with earnings and the Fed's decision on interest rates coming up. The Dow made it 11 straight days of gains adding another 184-points yesterday, and the S&P 500 and Nasdaq tagged along. Small caps and the I-fund did not participate in the rally with the S-fund flat on the day, and the I-fund down after yet another rally in the dollar, but the dollar is now up against resistance.

...

A late sell off spoiled a good day for the stock market on Friday but it wasn't all that bad considering the strength we saw earlier in the week. However, we come into this busy week with the indices fairly stretched to the upside, and some sluggish action on Thursday and Friday as we head into the meat of earnings season, and yet another Fed interest rate hike. The Dow is now on a 10-day winning streak, the longest in several years. Bonds (F) were up slightly, and a powerful rally in the dollar ...

If you were in stocks this week, you enjoyed the first half with the TSP stock funds stretching to new 2023 highs. But the choppy action in the second half of the week makes you wonder if the bulls are losing their grip on this market.


Reasons to be Cautious

The poor action on Thursday cannot be summed up as healthy consolidation of the recent bull run. The selling was provoked by disappointing earnings reports from the tech giants Netflix and ...

The headline on CNBC's website after the market closed yesterday was that the Dow gained 100+ points to notch a 9-day winning streak, but clearly there were issues in the market, especially in the tech heavy Nasdaq, and that could be a game changer unless some of those bigger tech companies can impress investors with earnings and guidance in the coming week or two. Bonds were down as yields bounced off support, and the dollar rallied again.

...

Stocks closed off their highest levels of the day yesterday but it was basically the same old story as the melt-up continued. The Dow added 109-points and, other than a strong dollar holding back the I-fund yesterday, most of the US indices closed higher. Bonds and the F-fund were up as well as yields continue to slip off of the early July spike higher.

...