After bouncing around wildly earlier in the week, the stock market found its footing and rallied off of the early Wednesday morning low, to reach a new all-time high in the S&P 500 by the close on Thursday (Friday was a holiday.)
Here are the up to date weekly, final March monthly, and end of the 1st quarter, TSP fund returns through March 28:
The S&P 500 finally closed at new all-time highs, passing the previous high hit in early 2000.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Having taken 13 years to reach the new high, our friends at sentimenTrader.com did what they do best and came up with the previous occurrences where the S&P made a new 10-year high after waiting such a long time to do it…
Chart provided courtesy of www.sentimentrader.com, analysis by TSP Talk|
Not a common occurrence of course, and two of the three prior instances saw almost immediate major corrections from those highs, while in 1980 the S&P rallied for several more months before peaking, but even then, the S&P 500 saw some sharp short-term pullbacks leading to that peak. I think some caution is warranted here.
Enjoy your Easter weekend!
Good luck, and thanks for reading. We will be back here next week with another TSP Wrap Up.
Tom Crowley
www.tsptalk.com
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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