Good Evening,
It was a flat day for TSP as well as the overall market. We did manage another strong day on the street which made six in a row. We continue to stay invested there in alternative investments and not in stocks. Hopefully stocks will get revved up again so we can make some gains in thrift as well.
NEW YORK (CNNMoney)
The first official summer trading day on Wall Street turned out to be a treading water kind of day.
The day’s action left us with the following signals: C-Buy, S-Buy, I-Buy, F-Neutral. We are currently invested at 25/C, 75/S. Our allocation is now -2.79% on the year. Here are the latest posted results:
| 06/23/14 | |||||
| Fund | G Fund | F Fund | C Fund | S Fund | I Fund |
| Price | 14.4478 | 16.3354 | 25.6096 | 35.5474 | 26.9477 |
| $ Change | 0.0027 | 0.0038 | -0.0032 | -0.0375 | -0.0481 |
| % Change day | +0.02% | +0.02% | -0.01% | -0.11% | -0.18% |
| % Change week | +0.02% | +0.02% | -0.01% | -0.11% | -0.18% |
| % Change month | +0.14% | -0.43% | +2.15% | +3.82% | +1.32% |
| % Change year | +1.13% | +3.77% | +7.26% | +5.57% | +5.41% |
| L INC | L 2020 | L 2030 | L 2040 | L 2050 | |
| Price | 17.2205 | 22.6915 | 24.6039 | 26.175 | 14.8893 |
| $ Change | 0.0002 | -0.0070 | -0.0111 | -0.0145 | -0.0100 |
| % Change day | +0.00% | -0.03% | -0.05% | -0.06% | -0.07% |
| % Change week | +0.00% | -0.03% | -0.05% | -0.06% | -0.07% |
| % Change month | +0.52% | +1.17% | +1.49% | +1.74% | +1.95% |
| % Change year | +2.40% | +4.11% | +4.88% | +5.40% | +5.87% |
Here’s what the SPY looked like for the day courtesy of Stockcharts.com.
Price is hugging the top of the bearish ascending wedge. Volume was low and the PMO is rising, albeit very slowly.
Conclusion: Boring day with little information on where the market is going. Price is not able to push through the top of the ascending wedge. Indicators are not really hinting where the market is headed, so at this point, I’d look for an execution of the bearish wedge, meaning lower prices.
I agree that it was a slow day, but I also have to say that a little sideways consolidation is not a bad thing at this point. We will continue to monitor the situations in Europe and the Middle East to see how they effect the charts. The economic news in the US was good today which helped counteract the negative drag on the market by Europe. In fact, the market even managed to rally into the close which may bode well for tomorrow. We’ll just have to see. That’s all for tonight. Have a nice evening.
God Bless,
Scott
