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Stocks were mixed on Friday with a bit of a role reversal for the indices as the Dow led on the upside with a 119-point gain, while the recent leaders, the Nasdaq and the small caps, lagged. There was some late selling that pushed the indices to their lows of the day, which is usually a short-term technical negative, but it was an "inside day" and there was some index rebalancing on Friday so the action may have seemed a little more dramatic than it really was.

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Action in stocks was mixed throughout the week and all the TSP stocks funds took a loss by the end. The initial disturbance once again came from trade war worries as tariffs are starting to become more of a reality for the global economy. Stocks opened down early in the week and dip buyers were there on queue to buy into those losses. However, profit taking took place for the second half of the week and the cycle couldn't recover leaving negative weekly returns across stock indices.
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Stocks sold off on Thursday and for the first time in a while the selling was broad based. The Dow lost 196-points and that makes 8 straight down days, and that also makes it the longest streak in over a year. The small caps and the Nasdaq finally saw some profit taking, and the overseas markets are really starting to feel some pain.

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The Dow was down again on Wednesday, a seventh straight day, but that has been a smoke screen to the impressively strong rally in tech and especially the small caps recently. The Dow lost 42-points but once again the money from the large caps is being put right into other sectors that are not as impacted by the tariffs.

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Wash, rinse, repeat. That is what we continue to see of late with stocks opening lower on the day, and by the close much of the damage is repaired. The Dow did lose 287-points and was the percentage laggard, but it did close off it's -419 lows. The Dow has been down for six straight days and is now negative for 2018.

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