Stocks had issues with holding on to early gains from stronger opens as they were followed by weaker closes. Earnings reports continued to be in the limelight; a weak report from Apple was a big plus for the bears as it rippled weakness throughout the major indices. There was also more political drama concerning Clinton and her emails which brings more unwanted uncertainty to the markets. In the end, stocks and bonds ended the week with negative returns with small caps taking the greatest hit.
The S-fund was down 1.96% which was more than double the C-fund’s loss of 0.67%. Bonds were down nearly 0.5% for the week.
Here are the weekly, monthly, and annual TSP fund returns for the week ending October 28th:
The SPY (S&P 500 / C-fund) has had trouble the past couple weeks making any progress above its 50-day EMA. The index also broke below the support line of the bear flag mentioned in the Afternoon Comments. There is possible support below from the September lows but this will be the second time this month it will be tested if the index continue to fall which may mean it is less likely to hold. The C-fund was down 0.67% for the week.
The Dow Completion Index (S-fund) gapped up at Monday’s open breaking out the of the declining trading channel it has been within for more than a month. However, selling accelerated from there and that open gap was filled intraday Tuesday and the index was at the bottom of that trading channel by Friday. Support from the 200-day EMA may have reduced any further losses for the week but the S-fund certainty felt the damage of a 1.96% loss for the week.
EFA (EAFE Index / I-fund) stayed between its 50-day and 200-day EMA this week. It also filled an open gap from early last week. The I-fund fell 0.38% for the week which was the smallest loss of the TSP funds this week.
AGG (Bonds / F-fund) was on its way to complete the head and shoulders pattern mention this week in our Market Comments this week when it gapped down below. Bonds failed to correct the gap down and finished the week with a 0.49% loss.
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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