The market produced slight gains for the week after oscillating day to day between gains and losses. The Fed further validated potential rate hikes in June on Wednesday. This wiped out the gains of the preceding rally to end the day with a slight gain for the S&P500. Selling continued into Thursday but buyers slowly showed up intraday and increased in numbers going into the close. This carried into Friday to produce a .35% gain for the C-fund.
The S and I-funds were also up for the week. The S-fund led the TSP funds with a gain of .9%. The F-fund lagged producing the only negative return for the week.
Here are the weekly, monthly, and annual TSP fund returns for the week ending May 20th:
The SPY (S&P 500 / C-fund) has remained near its 50-day EMA which it closed above on Friday. Despite the slight gain for the week, the recent action has produced potential declining resistance line above. Further decline would test the 200-day EMA for support which is not far below the current price.
The Dow Completion Index (S-fund) recovered Friday after falling below its 50-day EMA mid-week. The 200-day EMA marked the intraday peak of Friday’s gains meaning it may hold as resistance going into next week. The S-fund led the TSP funds this week with a gain of .9%.
EFA (EAFE Index / I-fund) gapped up Friday but was held up from further upside by resistance from its 50-day EMA. With that it was able to produce a slight gain of 0.32% for the week. There is declining resistance that we may see tested again next week.
AGG (Bonds / F-fund) fell down to its 50-day EMA Wednesday falling below a support line in the proccess as yields increased. Thursday and Friday recovered some of the losses to put the F-fund off its lows ending down 0.57% 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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