View RSS Feed

TSP Talk Blog

Bears put on some pressure

Rate this Entry

3/29/12

Stocks pulled back yesterday making it 5 of the last 7-days that they have closed in negative territory. After being down over 120-points, the Dow did make a comeback effort late in the day but still lost 72-points.


For the TSP, the C-fund was down 0.47% yesterday, the S-fund fell 0.57%, the I-fund lost 0.76%, and the F-fund (bonds) slipped 0.02%.

The only concern yesterday's decline left me was that the higher high may have been a failed breakout. You can see that prior breakouts to a new high (blue horizontal lines) did not see a move back below the newr high, except for that big one-day sell off in early March. So yesterday's drop below 1415 is something to watch as a possible area of resistance.


Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk

The Russell 2000 pulled back to fill the open gap, then closed back above the neckline of the inverted head and shoulders pattern. That looks pretty bullish. The neckline will be the key area to watch.


Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk


Oil dropped sharply yesterday, along with most commodities,
but it remain in the flag portion of the bull flag. There is an open gap on the chart that hasn't officially been filled, but it's close. Yesterday's low tested an area that seems to be a strong support area - near $104, and the 50-day EMA has now risen to that level to add more support.


Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk

We've talked about the weak seasonality during the last few days of March, but Monday we move into April and it is historically a pretty good month.


Chart provided courtesy of www.sentimentrader.com


We'll go into more of the April stats tomorrow or next week, including the tendencies surrounding next Friday's (April 6) holiday trading, which is Good Friday.

Thanks for reading! We'll see you tomorrow.

Tom Crowley


The legal stuff: This information is for educational purposes only! This is not advice or a recommendation. 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.


Submit "Bears put on some pressure" to Digg Submit "Bears put on some pressure" to del.icio.us Submit "Bears put on some pressure" to StumbleUpon Submit "Bears put on some pressure" to Google

Comments


S&P500 (C Fund) (delayed)

(Stockcharts.com Real-time)
DWCPF (S Fund) (delayed)

(Stockcharts.com Real-time)
EFA (I Fund) (delayed)

(Stockcharts.com Real-time)
BND (F Fund) (delayed)

(Stockcharts.com Real-time)

Yahoo Finance Realtime TSP Fund Tracking Index Quotes