TSP Talk Blog

China tanked, the Greece situation is still up in the air, and technical glitches on the NYSE all helped the Dow to 261-point loss on Wednesday. The charts are broken but oversold so the question is, is this a buying opportunity, or will the relief rallies be sold off?

I am on the road this week and as I have whined about before, I have a difficult time adjusting from my 4 large monitor setup in my office to a 15" laptop with a mini-mouse. Plus my internet connection is sluggish making the whole process frustrating and slower. So, I apologize, but I am going to make these market commentaries brief this week.

Daily TSP Funds Return More returns

The TSP stocks funds all dropped about 1.7% on Wednesday, while bonds continue to take on the safety bet.

The SPY (S&P500 / C-fund) did not quite reach the lows of Tuesday's trading but it did make its lowest close since March. The chart is in a little trouble and it will look to the 200-day EMA for some possible help.


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

The Dow Completion Index (S-fund) is also nearing the 200-day EMA, a good test for the bull market.


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

The EFA (EAFE index / I-fund) is broken but is quite oversold after the nearly 10% pullback.


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

China's Shanghai Index lost another 6% on Wednesday and our markets are finally starting to take notice.


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

The AGG (bonds / F-fund) moved above a key level and while bonds are not overly bullish, investors are looking for a place to put money other than stocks.


Chart provided courtesy of www.stockcharts.com, analysis by TSP Talk
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Thanks for reading! We'll see you back here tomorrow.

Tom Crowley


Posted daily at www.tsptalk.com/comments.php

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