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Stocks bounced back yesterday, a day after Tuesday's CPI driven sell off that had opened up some overhead gaps on the charts. Some of those gaps remain open after the rebound, while the S-fund did complete the task and fill its gap. The Dow lagged with its 152-point gain, but we saw near 1% or more gains in most of the broader indices, and a late push higher into the close had the S&P 500 recapturing the 5000 level. Bond yields and the dollar retreated after Tuesday's big gains.
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The futures market heading into Tuesday was indicating that stocks were going to open slightly lower. That was before the CPI report was released and of course that changed everything. There was some buying in the final hour, but the damage was broad as large, small, mid-cap stocks were all sold despite the recent relative strength in small caps so the falling tide sunk all ships. The dollar and yields were up sharply, and that has been troublesome for stocks, particularly small caps, for some ...

Stocks opened higher on Monday and the indices were sailing into late morning with solid gains, but we did see some selling in the afternoon, especially in the lofty S&P 500 and Nasdaq. Small caps were leading the way again and they held onto a good portion of their gains, closing just off their highs. Yields were mostly flat and the dollar was up slightly and that kept the F and I-funds near the flat line as well, but still positive.

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The Dow closed lower on Friday as 7 of the 8 heaviest weighted components in the Dow were down, but the smaller, broader market indices, as well as big tech, did do quite well. The Nasdaq and small caps outperformed with gains over 1% on Friday, and it was good to see big tech and the smaller companies on the same page for a change. Bonds were down as yields ticked up again, and the I-fund lagged US stocks, posting just a modest gain of 0.18%.

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The S-fund gave us an early buying opportunity early this last week, and we missed it. The market pulled back this previous Monday with all of the TSP funds outside of the G-fund starting their week with a loss. The worst of the damage came from the S-fund's 1.29% loss, this becomes more significant considering the C and I-funds' Monday losses were under 0.5%. But this S-fund Monday stumble turned out to be the best buying opportunity for the week. TSP investors who bought the S-fund on ...