Monday had a strong bounce back from the oversold Friday which set the tone for solid week. There was mixed turbulence Tuesday resulting in a slight loss in the S&P 500 for its only red day of the week. From there stocks pushed through Wednesday and onto Thursday were we saw new highs in both the S&P 500 and the Nazdaq on the same day for the first time in 16 years. Friday held onto the gains concluding a green week for all the stock TSP funds. Bonds were down but things could have been worse.
Here are the weekly, monthly, and annual TSP fund returns for the week ending April 24th:
After multiple attempts since the highs of late February the SPY (S&P 500 / C-fund) broke through overhead resistance Thursday, made new highs, and continued to stay above resistance intraday Friday. The S&P 500 bounced off support after the sell off the previous Friday and rebounded nicely into Monday’s open regaining the losses. We will see if the old resistance can hold as support into the next week or if traders will take their profits. The C-fund was up 1.77% for the week.
The Wilshire 4500 (S-fund) reached a record close on Thursday but could not keep it going Friday. The short-term rising resistance has held but there is still plenty of room above to the long-term resistance and with strong support below this is a healthy spot for the Wilshire 4500. The S-fund was up 1.28% for the week.
The dollar broke below its 50-day EMA Friday which as we expected was a catalyst for EFA (EAFE Index / I fund) breaking above its wedged rising resistance line where it now sits. The I-fund was up 2.06% for the week and is now up 10.73% for the year leading the TSP funds.
AGG (Bonds / F-fund) closed below it rising support line Tuesday and continued falling with a big hit on Wednesday. Bonds bounced back Thursday and continued to pursue its previous support line Friday. Things could have been worse for bonds but there is still a rising trend and we will see this coming week if old support will become resistance, or if bonds can make it back within its trading channel. The F-fund was down 0.22% for the week.
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 the Market Comments page. 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.
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