TommyIV's TSP Talk Blog

It was a wild ride for stocks this week which was linked to the instability of the Greece bailout situation and reactions to movement in the recently fallen Chinese market. Despite the peaks and valleys you can see on the 5-day chart below, the S&P 500 ended about even with last week's close, so stocks came out virtually flat for the week.

The Greece situation is especially affecting the I-fund but the oversold EFA posted a couple of positive days to reduce the damage. Bonds were down for the week.




Here are the weekly, monthly, and annual TSP fund returns for the week ending July 10th:




Although the SPY (S&P 500 / C-fund) ended the week with little change from last week, it did manage to break above steep declining resistance from June's highs with Friday's gains. It is not certain where this market will go next primarily because it has been headline driven lately which leads to day to day reactions and emotional trading. The short-term trend is down but Monday's action will most likely depend on what kind of news we'll see over the weekend. The C-fund was up 0.03% for the week.




The Dow Completion Index (S-fund) had similar action this week but had solid support from February and May lows coupled with the 200-day EMA. The Dow Completion Index was shy of last Thursday's close and had a slight loss of 0.06% for the week.




EFA (EAFE Index / I-fund) had a sharp decline this week through Wednesday but a couple of back to back large gains Thursday and Friday reduced the damage caused by the recent Greece problems. It now sits above its 200-day EMA and between two gaps underneath and last week's gap above. The I-fund had a loss of 0.23% this week.




China's Shanghai Index had a couple of big days Thursday and Friday and is back above its 200-day EMA. The damage may or may not be done but where the Index goes from here will affect the US and European markets.




AGG (Bonds / F-fund) were on their way towards a solid positive week as investors were moving their money out of the unstable stock market. Bonds broke through resistance, were back above their 200-day EMA, and even back above their 50-day EMA Tuesday and Wednesday. However, Friday's action put Bonds back below resistance and their 200-day EMA. The F-fund ended the week with a slight loss of 0.10%.





Good luck and thanks for reading. We will be back here next week with another TSP Wrap Up. You can read our daily market commentary at the Market Comments page. If you need more help deciding what to do with your account, perhaps one of our Premium Services can help.


Tommy Crowley
www.tsptalk.com
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The legal stuff: This information is for educational purposes only! This is not advice or are commendation. We do not give investment advice. Do not act on this data. Do not buy, sell or trade the funds mentioned herein based on this information. We may trade these funds differently than discussed above. We use additional methods and strategies to determine fund positions.