After a one-week pullback and some early weakness this past week, U.S. stocks ended the week with modest gains. The Fed meeting minutes were released on Wednesday afternoon and investors went scurrying, but they came back aggressively on Thursday and Friday to salvage a positive week.
Here are the up-to-date weekly, current month, and annual TSP fund returns through August 23.
The S&P 500 seems to have bottomed here, although it is still in a short-term down trend, and it will be tested once it hits the top of the descending trading channel and the top of the gap left open several days ago.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
The Dow Transportation Index exploded on Thursday breaking above its short-term descending trading channel. Being the market leader, this is a positive sign for the broader indices, although it is not out of the woods yet while trading below the recent highs. We’d want to see new highs rather than a lower high so the rebound will have to continue this coming week, which is generally a very light volume trading week because of the end of summer holiday vacations.
Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk
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 http://www.tsptalk.com/comments.html.
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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