TSP Market Summary: Week of May 13, 2017
Key Takeaways
- S&P 500 made new record high on Wednesday, approaching key 2400 psychological level twice
- All three equity TSP funds (C/S/I) remain bullish with continued full equity allocation
- Light calendar ahead with no major events could help markets break above 2400 resistance
Although the S&P 500 closed slightly down at 2390 for the week, it did make another new record closing high on Wednesday. What was also interesting was that the S&P 500 twice closed within one point of that “psychological 2400 level”. Although earnings season is pretty much over and no major newsworthy events (election/Fed announcement/etc.) are on the radar for next week, maybe the markets can push above that resistance level on their own merit. Since all three equity funds (C/S/I) continue their bullishness, we’re recommending no allocation changes this week and remain 100 percent invested in those equity funds.