It was another up week for the S&P 500 as it closed at 5,464, marking the eighth up week out of the last nine. Overall it was a week broken up into halves with the Juneteenth holiday on Wednesday. On Monday and Tuesday the S&P 500 made new record closing highs. On Thursday the S&P 500 broke above the 5,500 level about 15 minutes after the open, but then fell off throughout the day as Chip stocks fell out of favor. This continued into Friday, but in the end it was a positive week as mentioned above. That said, the Dow rose 1.45% for its best weekly performance since May. From a technical perspective, the S&P 500 remains bullish with a higher intraweek high and higher intraweek low than last week. While we have made new highs, the Bollinger Band Index remains at a neutral, not overbought, reading. Next week marks the mid-year point and we have the GDP and Core Personal Consumption Expenditure numbers on Thursday and Friday. For TSP TIPS the C fund remains at the top of the Performance Ranking leaderboard and as such, we recommend no changes to our current investment mix. However, we do have the opportunity to move money into cash with a third June reallocation if needed.
It was another up week for the S&P 500 as it closed at 5,464, marking the eighth up week out of the last nine. Overall it was a week broken up into halves with the Juneteenth holiday on Wednesday. On Monday and Tuesday the S&P 500 made new record closing highs. On Thursday the S&P 500 broke above the 5,500 level about 15 minutes after the open, but then fell off throughout the day as Chip stocks fell out of favor. This continued into Friday, but in the end it was a positive week as mentioned above. That said, the Dow rose 1.45% for its best weekly performance since May. From a technical perspective, the S&P 500 remains bullish with a higher intraweek high and higher intraweek low than last week. While we have made new highs, the Bollinger Band Index remains at a neutral, not overbought, reading. Next week marks the mid-year point and we have the GDP and Core Personal Consumption Expenditure numbers on Thursday and Friday. For TSP TIPS the C fund remains at the top of the Performance Ranking leaderboard and as such, we recommend no changes to our current investment mix. However, we do have the opportunity to move money into cash with a third June reallocation if needed.