It was mostly uphill for stocks this week after some weekend worries. Despite the downward trend from the previous week coupled with terrorist attacks over the weekend, the market opened up Monday and buying continued throughout the day. The buying can be attributed to technical support as well as trends set by computer programs. A shake up mid-day Tuesday after a bomb threat gave traders a reason to sell. The rally resumed Wednesday and buying accelerated into the close after the release of the FOMC meeting minutes intraday. Stocks flattened out Thursday and opened up Friday but some gains were lost as the day continued.
All of the TSP funds were up this week. The C-fund led and was up more than 3%. The F-fund lagged with just modest gains.
Here are the weekly, monthly, and annual TSP fund returns for the week ending November 20th:
The SPY (S&P 500 / C-fund) found support from its 200-day EMA Monday. Wednesday’s rally filled an open gap from last week with no problem. Possible resistance lies above to be tested but the established support of the 200-day EMA will help cushion any pullback. The C-fund was up 3.34% for the week.
The Dow Completion Index (S-fund) also had a decent gains for the week. The Index broke above its 50-day EMA Friday which had consistently held as resistance in October. There is still an open gap below from early October. The S-fund was up 2.48% for the week.
EFA (EAFE Index / I-fund) interestingly found support at the top of an open gap. If EFA continues to ignore the open gap below then the next stop is a test of its 200-day EMA for resistance. The I-fund saw gains of 2.52% for the week.
AGG (Bonds / F-fund) remains in a extended bear flag and will most likely be testing the bottom of the flag again on Monday. The top of the bear flag joined with its 50-day EMA for double resistance after AGG opened up Thursday pushing it back towards the bottom of the flag. Bear flags usually break down but its 200-day EMA is right below as possible support. The F-fund had modest gain of 0.15% 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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