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TSP Talk Weekly Wrap Up

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Stocks were down early in the short post-holiday week but buyers kicked it into gear once some needed technical alterations were taken care of and we saw new highs in a few of the major indices. Tuesday's early drop filled some open gaps attracting buyers who showed up for the last hour of trading. This momentum carried on the next two days to put stocks up more than 1% for the week.

The jobs report came out Friday with an addition of 138,000 jobs and unemployment at 4.3%. This was lower than the 185,000 jobs expected but that did not frighten the bulls and we saw all day buying to top off the the week's gains.

All of the TSP funds were up for the week with the I-fund leading. The F-fund gained a half a percent for the week.




Here are the weekly, monthly, and annual TSP fund returns for the week ending June 2nd:




Here is the final TSP fund returns for the month of May:



As has been the trend so far, I-fund led the TSP funds for May with nearly a 4% gain. The S-fund was the only fund to produce a loss for May and it was less than 1%.


The SPY (S&P 500 / C-fund) broke above rising overhead resistance Thursday. This came after filling an open gap left behind from the previous week on Wednesday. The index followed up the breakthrough with another day above the trend line. It is normal to see the trend line tested for support before carrying further. The C-fund was up 1.01% for the week.




The Dow Completion Index (S-fund) had two decent days in a row to push the index to overhead resistance. This was coupled with the highs of April so the index pulled back intraday. This could be a sign of strength for the resistance. The S-fund ended the week with a gain of 1.59%




EFA (EAFE Index / I-fund) gapped up again on Friday to produce another open gap. This adds to the open gap left from April. The index has not yet winked at this large open gap but has open gaps will get filled eventually. With the action of the dollar lately the I-fund has outperformed the other TSP funds and it did so again this week with a gain of 1.72%. The index also decently outperformed the other TSP funds for the month of May.




AGG (Bonds / F-fund) did not retreat further to fill the partially filled open gap from a couple of weeks ago. Rather, bonds carried on up to produce gains and open up another gap on Friday. Rising overhead resistance marked the highs and a good place to take care of business in the lower prices. The F-fund was up 0.5% 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
Weekly Wrap-Ups Archive
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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.

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