Good Evening,
Some nights I can write and write, and some nights it’s pretty cut and dry. I can pretty well sum up today’s market with a sentence or two. The market remains flat and lifeless as it waits for news from the Greek debt meetings in Brussels. The action did have a slightly negative bias, but again, the only way to really describe it was flat. Last night we were discussing how silly it is to be so concerned over such a small country as Greece. Well it seems that all the powers to be are really concerned about PIGS…….. No, I’m not talking about livestock, although I think it would make more sense. Everyone is concerned about PIGS ; Portugal, Ireland, Greece, and Spain. They are afraid that if one fails, that they’ll all fail and threaten the overall stability of the European Union. I have no further comment, you can read Reuters for the news. The bottom line is this: I am a technical analyst and have only a passive interest in the news. However, I always include it here for your perusal.
The day’s action left us with the following results: Our TSP allotment slipped back slightly at -0.19% and AMP managed a small gain of +0.047%. For comparison, the Dow was -0.04%, the Nasdaq bucked the trend and gained +0.28%, the S&P 500 was -0.00%, AT&T was -1.32%, and Alaska Air Group was -1.32%. Tech stocks ruled the day though, a couple that I have been pushing had a good day, Facebook (FB) gained +1.76% and AAPL gained +2.34%. Stocks like these are the reason that the NASDAQ gained on the day! I can’t include the whole market here, but I enjoy taking a look at of few stocks of interest each day…..
Wall St. ends flat while investors await Greece, Ukraine news
| 02/10/15 | |||||
| Fund | G Fund | F Fund | C Fund | S Fund | I Fund |
| Price | 14.6497 | 16.9543 | 27.3493 | 36.8521 | 24.8692 |
| $ Change | 0.0006 | -0.0300 | 0.2902 | 0.2711 | 0.0447 |
| % Change day | +0.00% | -0.18% | +1.07% | +0.74% | +0.18% |
| % Change week | +0.02% | -0.19% | +0.65% | +0.13% | -0.18% |
| % Change month | +0.05% | -1.19% | +3.78% | +3.44% | +1.47% |
| % Change year | +0.23% | +0.91% | +0.68% | +1.53% | +2.69% |
| L INC | L 2020 | L 2030 | L 2040 | L 2050 | |
| Price | 17.5388 | 23.1049 | 25.0746 | 26.6955 | 15.157 |
| $ Change | 0.0266 | 0.0858 | 0.1202 | 0.1479 | 0.0940 |
| % Change day | +0.15% | +0.37% | +0.48% | +0.56% | +0.62% |
| % Change week | +0.07% | +0.16% | +0.20% | +0.22% | +0.25% |
| % Change month | +0.59% | +1.49% | +1.93% | +2.24% | +2.54% |
| % Change year | +0.50% | +0.90% | +1.08% | +1.20% | +1.33% |
Here’s what the C Fund looked like today:
The C Fund remains on a buy signal. Price today again closed above the short term resistance that it passed through yesterday. Unless we have a Greek train wreck, my next target is 2095. Also, for those of you that are new to the group and don’t have a lot of experience reading charts… Once you pass through resistance, it becomes support. That said you will notice that price tested lower resistance at around 2063 today and it held.
I’m sure that we’ll get a wild swing one way of the other when the results of this meeting to save Greece are known. Although, I’m not sure how long that may last. I know I repeat this every night, but we’ll just have to watch the charts. Don’t get me wrong, the news can sometimes give you an idea which way the wind may blow. However, it is overrated as an indicator, since there is often so much noise that it is difficult to get to a true read on where things are going. Conversely, charts don’t have emotions or opinions and they always tell the truth. The only problem with them comes occasionally when we misread them. For now, we’ll stay the course. Hopefully with God’s help we can have another Greece is saved rally tomorrow! Have a nice evening.
God bless,
Scott
