The new year started off with gains across the board for the TSP funds. The TSP stock funds leaded as the C, S, and I-fund were all up more than 1.5% for the week. It seems big names are carrying the indices while the overall action may not be as positive as it seems. This does not matter for those in the TSP funds but gives an idea about the actual strength of stocks.
The December Jobs report came out Friday with numbers lower than expectations; 156,000 jobs were added while an addition of 175,000 was expected. This did not seem to have an effect on traders as steady buying occurred the first half of the day following the report.
Here are the weekly, monthly, and annual TSP fund returns for the week ending January 6th:
The SPY (S&P 500 / C-fund) broke above the bull flag formation on Friday. It may have been unrelated or a poor jobs report may for some reason sparked the upside action. We should expect more potential catalyst to come including earnings season and any policies from the new Trump administration. The C-fund was up 1.76% for the week.
The Dow Completion Index (S-fund) also broke above the top of the flag formation but did so earlier in the week and continued two more days above it. The index did drop lower after the rally on Wednesday but we did see it successfully test the top the the bull flag for support on Thursday. The S-fund was up 1.64% for the week.
EFA (EAFE Index / I-fund) has been heading straight up since the last few trading days of December. Along the was the index closed an open gap from September but opened two more as well. The index did pull back Friday to close back within the closed gap. The I-fund led the TSP funds this week with a gain of 1.77%.
AGG (Bonds / F-fund) continues to rise since it changed momentum mid-December. Thursday’s action pushed the index above the rising resistance of its short-term trading channel but the dropped back within the channel on Friday. The F-fund was up 0.19% 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.