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| Today's Commentary |
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Dollar up - stocks down Stocks opened lower again yesterday on some weaker than expected jobless claims. The opening low held and the Dow closed down 59-points.  For the TSP, the C-fund dropped 0.52%, the S-fund fell 0.42%, and the I-fund slipped 0.05%. The F-fund (bonds) lost 0.16%. The S&P 500 chart does not look overly inviting but of course the indicators are getting oversold, and sentiment is getting overly bearish.  Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk We had expected the stock market to pull back once we see a rebound in the dollar. It took longer than I thought it would, and the strength of the rally also surprised me. It pushed right back through the200-day EMA without a problem. We'll have to see if the 50-day EMA acts as resistance as it is about to test it...  Chart provided courtesy of www.decisionpoint.com, analysis by TSP Talk The TSP Talk Sentiment Survey System moved to a buy signal for next week after the 0.46 to 1 bulls (29%) to bears (63%) ratio. I'm on vacation for the next week so I will be cutting the commentaries short. Thanks for reading! I'll touch base again tomorrow. Tom Crowley |