TommyIV's TSP Talk Blog

The market opened up Monday and bounced around a bit in anticipation of the highly anticipated Brexit vote. The final result announced Friday morning was in favor of Britain leaving the European Union, and that was not the expected outcome. And since investors don't like surprises, they reacted negatively to the vote as stocks opened down Friday and continued to drop through the trading hours. There were no dip buyers as the uncertainly of what a Brexit actually means permeated the news. The vote does show a lack of confidence in central bankers and the potential deterioration of the EU if other "Exits" are considered.

The F-fund led for the week with a slight gain while the TSP stock funds all fell more than 1% with the I-fund lagging with a loss of 1.71%




Here are the weekly, monthly, and annual TSP fund returns for the week ending June 24th:




The SPY (S&P 500 / C-fund) had worked its way back above the rising support line it had fallen below last week; filling an open gap in the process. However the Friday's action brought the index back below the support line and re-opened another gap above. The index is now just above its 200-day EMA, a possible line of support. The C-fund was down 1.62% for the week.




The Dow Completion Index (S-fund) closed at the bottom of an open gap on Thursday but could no finish the job Friday with the stocks down. The index closed below its rising support and 200-day EMA Friday. The S-fund fell 1.66% for the week.





EFA (EAFE Index / I-fund) took the greatest hit Friday as it was on its way to a +5% week but ended the week with a loss of 1.71% after gapping down significantly with response to the vote. This puts the fund back in negative territory for the month and the year.





AGG (Bonds / F-fund) gapped up Friday as stocks fell. Two open gaps still lie below as the fund is approaching overhead rising resistance giving credibility to a pull-back before further gains. The F-fund led the week with a gain of 0.21% for the week.




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.