It was a wild week on Wall Street last week as we saw multiple triple digit moves in the Dow, including a 300+ point drop the day after the election. Investors were trying to adjust their portfolios accordingly based on the results as they now know which fork in the road the country will be taking for the next four years.
Here are the TSP fund returns for the week of November 5 through November 9:
On Election day itself, before any of the results were in, the S&P 500 rallied sharply and made an attempt to break above that important 1430 level (blue horizontal line) but failed, and instead we saw a breakdown from a bear flag (red) as the week progressed.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The good news is, the S&P 500 found support at the 200-day EMA, and that also happens to be the area where the initial bear flag downside target would be. The bad news is, most of the leading indices – The Dow Transportation index, the Nasdaq, the Russell 2000, etc., have already fallen through the 200-day EMA.
The TSP Talk Sentiment Survey System moved to a buy signal for next week after the 37% bulls, 53% bears, 0.70 to 1 bulls to bears ratio.
Have a Happy Veteran’s Day and a big thank you to all of our veterans who served this country.
Good luck, and thanks for reading. We will be back after the weekend with a full market commentary on www.tsptalk.com/comments.html.
Tom Crowley
www.tsptalk.com
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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.
is it possible to withdraw at 591/2 from a fers account if one withdrew the total amount and return to work and was reinstated and did not pay back the amount?