TSP Talk Blog

Stocks were up on Friday although they drifted lower most of the day after an early spike higher to start the session. The Dow ended with a gain of 91-points and the TSP stock funds had a big week gaining between 2.5% and 3.3%.

I will be busy this Thanksgiving week so unless something significant happens, I will keep the commentary brief and enjoy some time off. I hope you are able to do the same. The market will be closed on Thursday and the TSP will be closed, and Friday will be a half day for the market, and the TSP will process transactions.

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The dollar rallied sharply on Friday holding back the I-fund, and bonds were off slightly.

The SPY (S&P 500 / C-fund) comes off a big week and looks to be on a path to new highs, but do they have enough strength? The positive holiday bias may help them get there, but the lagging small caps and weakness in the high yield corporate bonds may be telling another story. We'll see.


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

The weekly chart of the S&P 500 Index moved convincingly back above the 50-week moving average but it is still battling a possible double top here.


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

The Dow Completion Index (small caps / S-Fund) had a solid day and inched above the 50-day EMA again. There are some good signs here but officially it is in a bear market and has repeated failed to breakout.


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

I'm watching this chart of the High Yield Corporate Bonds. If it is falling, and it is close to a breakdown now, I look at stocks as being much more risky.


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


Read more in today's TSP Talk Plus Report. We post more charts, indicators and analysis, plus discuss the allocations of the TSP and ETF Systems. For more information on how to gain access and a list of the benefits of being a subscriber, please go to: www.tsptalk.com/plus.php

Thanks for reading. We'll see you back here on tomorrow.

Tom Crowley


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

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