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Earnings helping

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Stocks were mixed yesterday as the Dow ended the day flat- literally, the S&P and Nasdaq were up, and the small caps and Transportation stocks were down. The Nasdaq got a nice boost from a big gain in Apple, but that wasn't enough to keep all of the indices in positive territory.
Daily TSP Funds Return
The I-fund held onto small gains, and bonds were up slightly.

The SPY (S&P 500 / C-fund) was slightly higher but closed well off of the highs, and quite a bit off of the lows. It also produced an outside day - which could be considered a positive outside reversal day. The "kangaroo tail" reversal is normally a short-term positive, but the fact that the SPY did not close near the highs
could possibly negate the two normally bullish short-term formations. It did, however, close near yesterday's highs, so that leans it more toward the bullish side.


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


The Nasdaq had a nice day on Thursday gaining 0.5%, but like the SPY, it finished well off of the highs and the lows. The tie here could go to the kangaroo tail, which tends to bring more short-term gains. The 50-day EMA is still an obstacle that the Nasdaq has to deal with, and there is also a resistance line (red) coming into play, so there are some issues.



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


The Transportation Index made a new high in early trading on Thursday but then broke down and actually created a negative outside reversal day despite the kangaroo tail. It closed below Wednesday's lows, and that's usually bearish for the short-term.


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


The longer-term bonds (TLT) continue to outperform the intermediate-term bonds (IEF) but yields continue to stay low, and that could be a warning sign for the stock market.


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



Read more in today's TSP Talk Plus Report. We post more charts and indicators, plus discuss the Sentiment Survey Results and its 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! Have a great weekend!

Tom Crowley



Posted daily at TSP Talk Market Commentary

The legal stuff: This information is for educational purposes only! This is not advice or a recommendation. We do not give investment advice. Do not act on this data. Do not buy, sell or trade the funds mentioned herein based on this information. We may trade these funds differently than discussed above. We use additional methods and strategies to determine fund positions.

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