All Blog Entries

The bulls managed to put back to back winning days together for just the second time this month. The Dow gained a modest 115-points while the broader indices performed even better. The S&P 500 hit 4200 for the first time since last August, and the Nasdaq is also at August 2022 levels. Both still have a long way to go to reach the all time highs, but it's a start and it is doing so while the market is battling many fundamental roadblocks. Bonds broke down as yields and the dollar continue ...

A big rally in stocks on Wednesday pushed the indices to the top of their ranges, up to resistance, or to higher highs in the case of the Nasdaq. The Dow gained more than 400-points while small caps led the way after rebounds in the Regional Banks and Energy sector. The dollar was up but looks a little toppy. Bonds were down as yields rallied again.

...

That was a little different. It was more choppy range bound action but the late selling was different. That may have been as a result of the anticipated outcome of the debt ceiling meetings going on and were concluding after the closing bell. The Dow lost 1% or 336-points. Small caps reversed Monday's big gains with a big loss, so the resistance on that chart is holding firm again. Bonds were down.

...

Some morning weakness turned into another afternoon rally, but the gains were modest as the indices continue to grind in a narrow range that has lasted all of April and May. The Dow gained 48-points but spent more than half the day in negative territory, and once again we got a positive reversal day out of it. That's four positive reversals in a row, whatever that is trying to tell us. It sounds bullish, but it could also be a set up. Small caps led as regional banks rallied. Bonds were down ...

Despite sideways to lower action in all of the TSP stock funds last week, we curiously saw stocks being bought late in the day creating a third consecutive positive reversal day on Friday. Looking at the glass as half full, the bulls may be trying to take charge again, but the half empty viewpoint is that the S&P 500 has only been up 3 of the 7 trading days in May so far. A pop in the dollar last week held back the 2023 leading I-fund, but it still held up best with 0.65% loss. Bonds have ...