TSP Talk Weekly Wrap Up

After low volume and tight trading the first three days of this week, buyers showed up Thursday and Friday and the S&P 500 saw some decent gains. Big cap technology companies seemed to be the driving force of the gap up at Friday’s open which becomes more apparent when comparing big cap indices to the lagging small cap indices. These big name successes may be hiding some weakness in the lesser known stocks and this could come back to bite when this market gets a real test, whether it be a news event, hikes in interest rates, or any pressure from foreign markets.

More earnings reports will be coming in next week as well as another FOMC interest rate decision.

The S-fund saw some slight gains but was overshadowed by the >2% gain in the C-fund. The F-fund had a slight loss for the week.

Here are the weekly, monthly, and annual TSP fund returns for the week ending October 23rd:

The SPY (S&P 500 / C-fund) broke through key resistance Thursday and buying continued Friday but an open gap was left behind from the open. There is another open gap from early October and if that is not pursued anytime soon, the SPY may now have some support levels that we’d expect to get tested before its in the clear. The C-fund was up 2.09% this week.

The Dow Completion Index (S-fund) was held back by resistance and traded in a tighter range this week. It too still has an open gap to be filled from early October. The S-fund was up 0.2% for the week.

EFA (EAFE Index / I-fund) broke above the neckline of its inverted head and shoulders pattern Friday and now has the 200-day EMA to test as resistance beginning next week. The I-fund had a gain of 0.84% for the week.

AGG (Bonds / F-fund) had a slight loss this week as some traders left bonds to ride the Thursday and Friday rallies in stocks. A small open gap sits above and AGG sits in the middle of its rising trading channel which has been holding quite well for around four months now. The F-fund had was down 0.08% 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.

Tommy Crowley
Weekly Wrap-Ups Archive
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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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