After four straight up weeks for the S&P 500, it got a little bit overbought and was down for this week closing at 4228. Inflation and higher interest rates are still dominating the news, with the yield on the 10 year treasury steadily increasing over the past month and getting ready to cross above the three percent level again. From a technical perspective, yes, the S&P 500 was down for the week, but it did remain above the previous weeks low. That said, it also remains above a key support level of 4079. As such, we may be seeing the start of a consolidation phase until the Fed meeting on 20/21 September. For next week, Fed chairman Powell will be speaking at Jackson Hole and most likely will repeat his data driven comments. For TSP TIPS, both the C and S funds have seen their Performance Rankings improve and both are still in the top two positions. As such we are making no reallocation recommendations this week.
After four straight up weeks for the S&P 500, it got a little bit overbought and was down for this week closing at 4228. Inflation and higher interest rates are still dominating the news, with the yield on the 10 year treasury steadily increasing over the past month and getting ready to cross above the three percent level again. From a technical perspective, yes, the S&P 500 was down for the week, but it did remain above the previous weeks low. That said, it also remains above a key support level of 4079. As such, we may be seeing the start of a consolidation phase until the Fed meeting on 20/21 September. For next week, Fed chairman Powell will be speaking at Jackson Hole and most likely will repeat his data driven comments. For TSP TIPS, both the C and S funds have seen their Performance Rankings improve and both are still in the top two positions. As such we are making no reallocation recommendations this week.