Another strong week was capped off by a better than expected jobs report on Friday and the 2013 rally, which saw a minor blip a couple off weeks ago, seems to be back in relentless mode.
Here are the TSP fund returns for the week of March 4 through March 8…
Despite the strong bullish action, the economic data hasn’t been all that great this year but Friday’s employment report may be the kind of news that gets mom and pop individual investors, who have been less involved in stocks since the 2008 financial crisis, back in the game. The bad news is, that normally happens toward the end of a rally.
The S&P 500 made new highs last week and is back in an uptrend after the minor break down in February.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
Stocks tend to move up in a bull market, and down in a bear market, longer than would reason reasonable. Tops and bottoms seem to come when the most people have given up, or capitulated on trying to call that top or bottom.
Fighting a strong trend is not a great strategy but when you start to hear more people saying something like, “Well, I’m tired of waiting for the market to pull back. I am getting into stocks before I miss the whole rally.” That is about the time we will see stocks correct. I think we may be getting close.
Good luck, and thanks for reading. We will be back here next week with another TSP Wrap Up.
Commentary updated daily at TSP Talk.
Tom Crowley
www.tsptalk.com
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