TSP Talk Blog

Stocks were mixed on Monday with the Dow leading the way with an 85-point gain. We saw more modest gains in the S&P 500 while the small caps and EAFE were fairly flat. The market leading Transportation Index was down sharply again.

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[/COLOR][/FONT][/FONT] The action was positive with intraday record highs in the three major indices, but volume was very light again as investors look forward to this week's vote on the budget.

Netflix reported a solid earnings report after the close yesterday and that could help the Nasdaq again today.

I'm still trying to have some kind of vacation but I will be posting something every day, although it may be brief some days. Thanks for your patience!

The SPY (S&P 500 / C-fund) continues to grind up the F flag formation. It is narrowing and they do tend to breakdown, but like the one in August we could see a false upside breakout just to keep us guessing.




The Dow Transportation Index had its second tough day after I motioned in Friday's commentary that it looked like a rollercoaster getting ready to peak and rollover. Can the 20-day EMA hold it up or is there more downside to come.




The AGG (Bonds / F-fund) pulled back after Friday's rally. There is an open gap near 109.60 that should be a draw, but that area could also be a support level - if not the top of that old descending channel.




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 tomorrow.

[/COLOR] Tom Crowley


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

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