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TSP Talk Weekly Wrap Up

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The total damage was less than the expected from Hurricane Irma last weekend. Traders took notice therefore stocks opened up Monday morning. The intraday momentum carried as others did not want to be left behind and we had what we might call a relief rally. This produced the significant gains of the week with both the C and S-fund up more than 1% Monday.

The action in stocks was mixed for the rest of the week. More gains were produced three of the following four days in stocks, to a lesser degree than Monday's spike up. The exception was Thursday where we saw a slight loss in large and small caps but the buying was to continue Friday particularly into the close.

Bonds struggled this week with the F-fund losing 0.5% this week, the only loss in the TSP funds. The I-fund was up but lagged the C and S-fund, the most likely component being the strength in the dollar this week.

Looking ahead, the second half of September on average has been a struggle for stocks. This is not a certainty for the next couple weeks but will be on the minds of investors who may be looking for safety. The Fed will also be making interest rate decisions next week but are unlikely to do or say much in fear of having a negative effect on the market.

Here are the weekly, monthly, and annual TSP fund returns for the week ending September 15th:

The SPY (S&P 500 / C-fund) broke above the August highs on Monday but momentum may have been slowed by a rising resistance of the peaks of the last month. An open gap was produced at Monday's open but now a possible support line is between the current price and the open gap. The C-fund was up 1.63% for the week.

The Dow Completion Index (S-fund) led the TSP funds this week and it looks very similar to the S&P 500 chart. Overhead resistance kept the week from taking off and there is an open gap below with a couple of support lines to get through first before filling it. The S-fund was up 2.07% for the week.

EFA (EAFE Index / I-fund) was up with U.S. stocks Monday but strength in the dollar led to the index filling the open gapped produced Monday within two trading days. There is another open gap below but the index traded back above the Monday's open Friday. The I-fund was up 0.56% this week.

AGG (Bonds / F-fund) had the only loss in the TSP funds this week with a loss of 0.5%. It is a normal tendancy to see weakness in bonds when stocks are doing well. There are now tow open gaps above as the index gapped down two open in a row. AGG is now below its 20-day EMA as well as the support line of the two month trading channel it has followed.

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
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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S&P 500 (C Fund)
DWCPF (S Fund)
Dow Jones U.S. Completion Total Stock Market Index (^DWCPF)
EFA (I Fund)
iShares MSCI EAFE Index (EFA)
AGG (F Fund)
iShares Lehman Aggregate Bond (AGG)