TSP Talk Blog

If you just saw the closing prices yesterday it probably looked like a good day for stocks. Yes, the indices were positive but we had another reversal day and, as you can see in the three small index charts below, the highs came shortly after the opening bell. The Dow hung onto a 72-point gain which was about 300-points off the morning high. The negative drag doesn't look good on a chart, but it did serve a purpose as we'll check out below. Bonds were up on a decline in yields. The dollar was ...

The bulls put up another late fight on Friday but it has been the bears winning the battles this month, and it has been one step forward, two steps back for stocks this month. The Dow lost another 337-points with 1% or more losses in most indices. It was a lot worse at 10am in the morning, but the bears were able to keep the red on the board into the close. The PCE Prices report came in hot again and that has the market preparing for even higher interest rates. That pushed yields higher and ...

Thursday was another choppy day for stocks, but by the close the bulls had pulled out a modest victory. The gains were fine but twice the indices pulled back from the intraday highs so the bears haven't gone away yet, and the indices try to consolidate near do or die support levels. The Dow gained 109-points but it never did come back to hit the opening bell highs of the few minutes of trading. Bonds had a good day as yields fell below recent support.

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Stocks were choppy and mixed yesterday as early gains faded after the FOMC meeting minutes were released. The Nasdaq and small caps did close positive, while the Dow and S&P 500 were down, but overall it was mostly a stalemate after the 3-day sell off. The I-fund took a hit after another rally in the dollar. Yields were down giving the bond market and the F-fund some needed relief yesterday.

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Stocks start the new week with a sharp decline with very little attempts by the bulls to do any dip buying despite strong support being right there for them. Bull flags are failing and those flag pattern have just not been doing well over the last year. The Dow lost nearly 700-points and we saw crooked number percentage losses across the board in the US indices. Bonds continue to sink as yields make higher highs.

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