The S&P 500 scored its third straight week of gains as it closed Friday at 6,090. All that can be said about this week was Let the trend be your friend. During these last three weeks we have not had a single daily move of over 1%. Instead, weve had a steady upward drumbeat with twelve of the fourteen days being positive. Highlighting this move was the S&P 500 making new record closing highs in six of the last eight days, including Friday. And speaking of Friday, before the open the November jobs report came in as expected with 227,000 jobs added and the unemployment rate at 4.2%. As such, the S&P 500 gapped up at the open, made a new intraday record high of 6,099.97 fifty minutes later, and closed at the new record high mentioned above. From a technical perspective, we have seen a shift into the Large Cap Growth sector with the NASDAQ 100 also making it three up weeks in a row. Conversely, the Dow Jones Industrials and Russell 2000 were down for the week, even though the Dow made a new record high on Wednesday. For next week we get the inflation numbers on Wednesday and Thursday, followed by the Fed meeting on Wednesday, 18 December. For TSP TIPS the S fund remains at the top of the Performance Ranking (PR) leaderboard while making a new record high on Wednesday. However, the C fund matched the S&P 500 and also made new record closing highs in six of the last eight days, including Friday. We have not talked much about the I fund recently, but it has started to turn to the upside as its PR crossed back into positive territory. As such, we recommend no changes to our current investment mix. Hopefully this trend will still be our friend as we close out the year!!
The S&P 500 scored its third straight week of gains as it closed Friday at 6,090. All that can be said about this week was Let the trend be your friend. During these last three weeks we have not had a single daily move of over 1%. Instead, weve had a steady upward drumbeat with twelve of the fourteen days being positive. Highlighting this move was the S&P 500 making new record closing highs in six of the last eight days, including Friday. And speaking of Friday, before the open the November jobs report came in as expected with 227,000 jobs added and the unemployment rate at 4.2%. As such, the S&P 500 gapped up at the open, made a new intraday record high of 6,099.97 fifty minutes later, and closed at the new record high mentioned above. From a technical perspective, we have seen a shift into the Large Cap Growth sector with the NASDAQ 100 also making it three up weeks in a row. Conversely, the Dow Jones Industrials and Russell 2000 were down for the week, even though the Dow made a new record high on Wednesday. For next week we get the inflation numbers on Wednesday and Thursday, followed by the Fed meeting on Wednesday, 18 December. For TSP TIPS the S fund remains at the top of the Performance Ranking (PR) leaderboard while making a new record high on Wednesday. However, the C fund matched the S&P 500 and also made new record closing highs in six of the last eight days, including Friday. We have not talked much about the I fund recently, but it has started to turn to the upside as its PR crossed back into positive territory. As such, we recommend no changes to our current investment mix. Hopefully this trend will still be our friend as we close out the year!!