TSP Talk Weekly Wrap Up

It was another familiar week for the 2016 market, stocks were down and bonds were up. On the bright side for stocks, the losses were modest for the S&P 500 compared to the weeks preceding. Problems in the Greece economy are again hitting the headlines as if traders needed another reason to sell. An early intraday rally on Wednesday was flirting with last week’s prices but instead traders took the quick profit reversing stocks before reaching the previous Friday’s closing price. Things got worse Thursday but the market rallied Friday to repair some of the damage and cut the losses.

Bonds had a slight gain but were well off from their highs for the week. The I-fund lagged for the week with a 3.6% loss.

The Thrift Savings Plan will be closed Monday with other financial markets.

Here are the weekly, monthly, and annual TSP fund returns for the week ending February 12th:

The $SPX (S&P 500 / C-fund) gapped down Monday but the gap was filled by intraday Wednesday. The index gapped down again at Thursday’s open but found support from the low of last month. Friday’s rally filled that open gap as well; if the rally carries into Monday, there is declining resistance and the 20-day EMA just above current prices. The C-fund was down 0.72% for the week.

The Dow Completion Index (S-fund) created new 2016 lows Thursday but was back above January’s lows on Friday. It too has declining resistance and it’s 20-day EMA above which are getting closer. The S-fund was down 1.96% this week and now down 14.19% for 2016.

EFA (EAFE Index / I-fund) added to its open gaps after gapping down at Monday’s open. The index created a new low for 2016 Thursday but, like the other stock funds, was able to rally away from the lows Friday. The I-fund lagged this week with a 3.6% loss. It too is now in double digit losses for the year with a 11.31% loss for 2016.

AGG (Bonds / F-fund) opened at the top of its old trading channel Thursday but closed back into the channel its been in since late January. As stocks rallied Friday, bonds were sold but hit support intraday and closed off the lows. Despite the move from Thursday’s open to Friday’s close, the F-fund held onto modest gains of 0.17% 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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