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Market Comments March 8, 2011 Current TSP Share Prices Facebook Twitter

Today's Commentary

A couple of cracks in the foundation Stocks pulled back again yesterday and we are starting to see more cracks in the this bull market.  The Dow lost 80-points and we are seeing some break in support.                                For the TSP, the C-fund lost another 0.83% yesterday, the S-fund dropped 1.32%, the I-fund fell 1.01%, and the F-fund (bonds) ticked up 0.01%.  The S&P 500 remains in bear flag and is trying to hold onto its longer term support.  Yesterday's close took it down below both that support line and the 20-day EMA.  That is double trouble and warning bells should be going off if we don't see a quick reversal higher.                                                    Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk Crude oil opened higher yesterday but stabilized and remained in the 105 area.  This is the wild card for the stock market as the indices are hanging in there despite this recent jump in oil prices, but if we start seeing 110-115, I don't think the market can hold up.                   I have some family in from out of town so I am going to cut this short.  Bottom line is, if the market can not crawl back into its longer-term ascending trading channel rather quickly, and oil does not start pulling back, then we may be seeing a change in market character from what we have seen since December 1, although that has become pretty apparent since the shake-up in the Middle East. Thanks for reading!  We'll see you back here tomorrow. Tom Crowley Click here to discuss today's Market Commentary

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