TSP Talk Weekly Wrap Up

Stocks were up this week and all of the TSP stock funds were up more than 3%. Monday’s open for the S&P 500 gapped up from last Friday’s closing price of 1951.36, which I couldn’t fit on the weekly chart below, leaving an open gap between the weeks. Momentum was on the bulls side for the week and the major catalyst of Thursday’s big gains came from traders reactions to the Fed’s meeting which resulted in now common delay of rate hikes.

China’s stock market reopened Thursday after being closed since September 30th and put up back to back gains Thursday and Friday.

The F-fund lagged as the only TSP fund in negative territory for the week.

Here are the weekly, monthly, and annual TSP fund returns for the week ending October 9th:

As discussed in the Market Comments this week, the SPY (S&P 500 / C-fund) formed an F-flag formation this week which it broke through the upside of on Thursday. The SPY seemed to be held back by its 200-day EMA which is where it closed on Friday. If the momentum carries on to next week, there is more resistance the bulls would have to work through. The open gap from Monday’s open seems more likely of a destination when investors decide to secure their short-term profits. The C-fund was up 3.31% for the week.

The Dow Completion Index (S-fund) was also held up by resistance which will be tough to break through with an open gap below. The S-fund outperformed the C-fund this week with a gain of 3.83% for the week.

EFA (EAFE Index / I-fund) led the TSP funds this week with a gain of 4.80% but is sitting below resistance with two open gaps wanting to be filled below. There is support above the open gaps that could possibly keep EFA afloat if the resistance holds.

AGG (Bonds / F-fund) was in negative territory this week after testing resistance last Friday but still remains in a rising trading channel that has held since late June. The F-fund was down 0.24% 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.

Tommy 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.