It was a harsh week for investors starting with a sell off into Monday’s close and from there we said goodbye to last week’s big gains. Wednesday’s losses were the greatest sting of the week as stocks fell sharply most of the day. Stocks leveled out a bit on Thursday however it was the fourth straight day the S&P 500 closed in negative territory. We finally saw a green day on Friday but the gains weren’t impressive and the day had little movement. Whether it becomes the start of a new leg up is far from certain.
Here are the weekly, monthly, and annual TSP fund returns for the week ending March 27th:
The SPY (S&P 500 / C-fund) hit some unforgiving resistance from previous highs and fell sharply for most of the week and was back below both the 20 and 50-day EMA after the blow on Wednesday. There is still an open gap lingering below and the momentum right now is in pursuit to fill it but there is support from this month’s previous lows. The C-fund ended the week down 2.20%.
The Wilshire 4500 (S-fund) fell back into its trading channel as we suspected and is now sitting in the middle of the channel after the fall in stocks this week. There was some support from the short-term support line which is where it sits now after falling 1.93% for the week.
The EFA (EAFE Index / I fund) is currently between an overhead open gap and a small open gap below that was left over from last week. The I fund fell 0.69% this week but the 50-day EMA is still above the 200-day EMA so the fund is still in good shape technically.
AGG (Bonds / F-fund) fell below its short-term trading channel and has stayed below for two days. It didn’t seem investors were interested in moving their money into bonds during the sell off so bonds could continue to be insubstantial.
Good luck and thanks for reading We will be back here next week with another TSP Wrap Up. You can read our daily market commentary at TSP Talk Market Commentary. If you need more help deciding what to do with your account, perhaps one of our premium services can help.
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The legal stuff: This information is for educational purposes only! This is not advice or are commendation. We do not give investment advice. Do not act on this data. Do not buy, sell or trade the funds mentioned herein based on this information. We may trade these funds differently than discussed above. We use additional methods and strategies to determine fund positions.