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Stocks dip, bonds closed during Federal holiday

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Stocks were down slightly on Monday but because of the holiday, the bond market was closed as were many banks so it was a very light trading day for stocks. The Dow ended the day down 13-points after similar slight losses on Friday as well.
Daily TSP Funds Return

The share prices above reflect the action on Friday since the TSP did not update the prices for Monday. Tuesday's price will take Monday and Tuesday's stock market action into consideration.

The jobs report on Friday came in much weaker than expected - knowing it would be light because of the hurricanes, but not many were anticipating a negative number (-33,000), which was more than 100,000 fewer than expected. The unemployment rate dipped to 4.2% and that may be giving the Fed more ammo to raise rates in December.

Administrative Note: Thanks to everyone who submitted the exception request forms to unblock access to the TSP Talk website from their work computers. It seems to have worked!!

The SPY (S&P 500 / C-fund) nearly made another new high but it stalled near those highs for a second straight day. That may be a flat top which can precede at least a small pullback. You can see that it has already broken through some extreme resistance but now it is taking a much needed break - at least it has for a few days.

The DWCPF (S-fund) had a small dip yesterday after its huge recent run. It too is still extended and you can see that, after breaking above resistance (blue), that old resistance line held as the low yesterday. 1295 looks to be a key area to hold or the 20-day EMA would be the minimum downside target.

The Dow Transportation Index temporarily broke below its steep rising support line. It has held on each of its recent 2 - 3 day dips but it has now come a good 150+ points off last week's highs and that negative reversal day.

The EAFE Index (I-fund) held up with the help of another dip in the dollar.

The dollar has had a nice rally off its September lows but yesterday it dipped below its recent rising support line - which was the bottom of a rising wedge formation - filling one gap, but there are several more open gaps below.

The AGG (Bonds / F-fund) rallied nicely despite the bond market being closed yesterday. 10-year Treasury futures were up on the day and the AGG reacted to that. It is still below the 50-day EMA so we'll find out soon enough if that old support will now act as resistance.

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:

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

Tom Crowley

Posted daily at

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SPY (C Fund)
DWCPF (S Fund)
EFA (I Fund)
AGG (F Fund)