TSP Talk Blog

The bad news was that stocks were down sharply again on Tuesday, so no Turnaround Tuesday this week. The good news is, and this may be grasping at straws, the indices stabilized and basically held their morning lows of the day and in the case of the S&P 500, closed about 16 points off the 10:45 AM lows. The Dow ended the day down another 308-points and at this point we have seen a 50% retracement of the gains off the June lows.

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Stocks opened lower to start the new week following Friday's major sell off. The bulls started to put up a fight to erase the losses, which they did briefly in the afternoon trading, but by the close the bears put the pressure back on and the indices closed with moderate to sharp losses. The Dow tacked on another 184 point loss to their 1008-point loss from Friday. Yields were up, oil was up, and the dollar was up, so the story remains the same.

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Stocks started Friday morning with some gains as Thursday's big rally rolled over into the opening bell, with some help from a tamer than expected PCE Price report, which temporarily eased inflation concerns. But of course the speech from Federal Reserve Chair Jerome Powell changed all of that. By the close the Dow had fallen 1008-points and losses of 2.5% to nearly 4% permeated the indices. That was enough to push the S&P 500 into negative territory for the month of August with three trading ...

After being negative in the early afternoon, something lit a fire under the stock market, and the Dow ended the day up 323-points, and it was the under performing index. It looks a little fishy, but that often happens around major Fed appearances. The dollar, yields, and oil were all down yesterday, helping the bullish cause for stocks.

I did not see Thursday's rally coming, but I was expecting some possibly trickery to get us leaning the wrong way. Is that what yesterday's 1.4% ...

Stocks bucked the recent trend yesterday by rallying despite a move higher in the dollar, yields and oil. Perhaps it was positioning in front of the Jackson Hole Symposium as investors may be anticipating some dovish comments from the Fed on Friday or, with trading volume near the lowest levels of the year, it could be that traders have backed off while forced pension type buying kept the indices buoyant. Just a guess. The Dow gained 60-points and the S&P added a dozen, while small caps led ...