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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 ...

Despite a move higher in yields, stocks were mostly positive yesterday, and this time small caps not only played along, they led on the upside. The S&P 500 tagged 5000 but closed a couple of points below the milestone. Earnings released after the bell yesterday weren't great but none of the names were big markets movers.

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The media was falling all over itself about the S&P 500 flirting with 5000. I really wish it would have touched it so we could look past the celebratory hype. It's a big number and a sign that the large caps are acting quite well, but the rest of the market needs to catch up or it will all be for naught. The S and I-funds lagged and bonds (F) were down as yields held near support. The news flow is slow so it's all about 5000 right now.

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Stocks gained back some of Monday's losses on Tuesday despite the eerie sound of that rubber band stretching in the S&P 500, but as of now the market keeps climbing the wall of worry despite some signs that a pullback is needed, or at least due. Small caps led yesterday as yields eased lower after the two-day rally triggered by Friday's strong jobs report, and that also helped the F-fund rebound. The dollar was also down helping the I-fund to decent day as well.

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