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More early selling gets bought

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An early sell-off was bought yet again on Tuesday as the buy the dip strategy continues to work for those playing it. The Dow, which was off nearly 160-points near the open, closed down just 30-points, with modest one quarter percent losses in most of the major indices. The I-fund held up as the dollar slid 0.7% on the day.

Daily TSP Funds Return

I apologize but this is going to have to be a quick update today.

The action has been benign for the most part considering the intraday volatility, but the S&P 500 has opened in negative territory for 5 straight days, and that's a bit of a change from what we've seen over the last two months.


The SPY (S&P 500 / C-fund) slipped below the 20-day EMA again on Tuesday, but for the 3rd time in a few weeks, it was able to close back above it after a brief breakdown. The trend remains up but it feels like the bulls are going to have to step up their game and take the index to new highs, because the bears seem to be getting a little more confident. Not a lot, but there is a slight change in attitude.




This is one of the warning signs for the stock market that we've been posting and yesterday's lower low did not help things.




Bonds were up on the day but most of that may have just been a safety play as much as anything else at this point.
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.

Tom Crowley


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

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