TSP Talk Blog

Stocks were mixed but mostly lower on Monday with the Dow losing 9-points, the S&P shedding almost 5, while the Nasdaq was flat. Small caps and the Transports lagged.

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I was on the road all of Monday so I didn't get a good feel for the action yesterday although it looks like volume was light and the trading range was fairly narrow. Being that I'm just getting in the door and the action was mostly muted, I'll make this quick today. Thanks.

The SPY (S&P 500 / C-fund) pulled back slightly again on Monday and it tries to hang onto the rising support of the 20-day EMA. The peak last week didn't quite hit the March 1 high, but in general this looks like a cup and handle forming. They are bullish formations that tend to break above the cup, but the handle portion should not get as low as the bottom of the cup so it is running out of room if it wants to remain a cup and handle.




The DWCPF (S-fund) is stalling in an area that could be troublesome. That rising resistance line did hold on a few attempts now, so the question is whether it means it will test the bottom rising support line again. The 50-day EMA held this month and right now the 20-day EMA is still holding so it's tough to get too negative here yet.




The AGG (bonds / F-fund) moved higher again and is now within striking distance of moving into that large open gap. It moved above the 50-day EMA without any problems so the next areas to look for as resistance are the bottom of the gap, the 200-day EMA, the old rising support line, and then the top of the gap.




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

Tom Crowley


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