Stocks were down initially this week after some profit taking from the gains of the previous week. The buyers stepped back in Wednesday and stocks were up before the FOMC policy statement was released. At first, investors were not happy with the Fed’s statement of the possibility of rate hikes in December and the market dropped immediately, but minutes later buying resumed and continued into Wednesday’s close. The market leveled off Thursday but some of the Wednesday’s gains were taken back Friday as stocks sold off into the close.
The C and S fund saw modest gains this week. The F-fund was down but the I-fund lagged and was down about 1%
Here are the weekly, monthly, and annual TSP fund returns for the week ending October 30th:
October was a great month for the TSP Stock funds, the C-fund lead with an 8.45% increase for October, the I-fund was up 7.07%, and the S-fund ws up 5.61%
The SPY (S&P 500 / C-fund) was up quite consistently in October but is now facing overhead resistance and rising resistance going into November. The rising trend may have created some support that could wedge SPY into resistance. The C-fund was up 0.23% this week.
The Dow Completion Index (S-fund) was also up this week and broke through the neckline of its inverted head and shoulders pattern Wednesday but is now back below it as it ran into some descending resistance from August. The Index is still above its 50-day EMA and was up 0.21% for the week.
EFA (EAFE Index / I-fund) started the week above resistance but with the 200-day EMA in the way as more resistance, it was back below it on Tuesday. There is still an open gap from early October that wants to be filled and EFA may test its 50-day EMA for support on the way. The I-fund was down 0.98% this week
AGG (Bonds / F-fund) was also down this week and fell below its long-term rising support Thursday leaving an open gap behind. Bonds pursued that open gap Friday but closed at the trading channel support line by the close. The F-fund was down 0.30% 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.
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.