NOTE: NEXT WEEKS UPDATE WILL COME OUT ON SUNDAY 7 DECEMBER AS I WILL BE ON TRAVEL SATURDAY. The S&P 500 belonged to the bull as he knocked the bear on his haunches, closing Friday at a session and week high of 6,849. That said, it was a long, holiday shortened week, so lets go to the recap. Last Friday the S&P 500 closed at 6,602. Then came Monday, the best day of the week for the S&P 500 as it gained 1.55% on the heels of tech names like GOOGL, up 6.31%. When the fireworks were over the S&P 500 had crossed above the 6,700 level. Tuesday started on a sour note with the S&P 500 dropping 80 points within the first 20 minutes. However, 40 minutes later it recovered that loss and continued upward closing at 6,765, a volatile session swing of nearly 120 points. On Wednesday that bull continued charging as it crossed above the 6,800 level. On Thursday we hope everyone enjoyed time with friends and family, and maybe watched Navy playing in their first Thanksgiving football game since 1898. Friday might have been a shortened session, but it was an impressive day for the S&P 500 as it battled to turn November into a positive month. Octobers close was 6,840, and the S&P surged above that level in the last 10 minutes of trading. All told, that made it seven consecutive months up for the S&P 500, the longest streak since August 2021. Also, it is now within 1% of setting a new record high, and poised for a breakout into December, the third best month for the S&P 500 with an average gain of 1.5% with 55 up and 19 down months since 1950. From a technical perspective, the S&P 500 10 day Exponential Moving Average (EMA) should cross above its 20 Day Simple Moving Average (SMA) on Monday giving us our first bullish signal, and its a strong possibility well also see a bullish weekly Heikin Ashi candle reversal. With all this momentum, a 1.5% December gain would put us at 6,951 at year end, and a 2.2% gain would put us at 7,000. Lets hope for the latter. For TSP TIPS the Composite Scores (CS) of all funds improved this week, and that EMA/SMA Cross and Candle Reversal will max us out at 100. Additionally, the C fund has the best Performance Ranking with a very narrow lead over the I fund. As such, we are recommending the following new investment mixes. Lastly, it looks like Mutual Fund Window (MFW) TIPS might be giving us a buy signal this week so stand by for an alert.
NOTE: NEXT WEEKS UPDATE WILL COME OUT ON SUNDAY 7 DECEMBER AS I WILL BE ON TRAVEL SATURDAY. The S&P 500 belonged to the bull as he knocked the bear on his haunches, closing Friday at a session and week high of 6,849. That said, it was a long, holiday shortened week, so lets go to the recap. Last Friday the S&P 500 closed at 6,602. Then came Monday, the best day of the week for the S&P 500 as it gained 1.55% on the heels of tech names like GOOGL, up 6.31%. When the fireworks were over the S&P 500 had crossed above the 6,700 level. Tuesday started on a sour note with the S&P 500 dropping 80 points within the first 20 minutes. However, 40 minutes later it recovered that loss and continued upward closing at 6,765, a volatile session swing of nearly 120 points. On Wednesday that bull continued charging as it crossed above the 6,800 level. On Thursday we hope everyone enjoyed time with friends and family, and maybe watched Navy playing in their first Thanksgiving football game since 1898. Friday might have been a shortened session, but it was an impressive day for the S&P 500 as it battled to turn November into a positive month. Octobers close was 6,840, and the S&P surged above that level in the last 10 minutes of trading. All told, that made it seven consecutive months up for the S&P 500, the longest streak since August 2021. Also, it is now within 1% of setting a new record high, and poised for a breakout into December, the third best month for the S&P 500 with an average gain of 1.5% with 55 up and 19 down months since 1950. From a technical perspective, the S&P 500 10 day Exponential Moving Average (EMA) should cross above its 20 Day Simple Moving Average (SMA) on Monday giving us our first bullish signal, and its a strong possibility well also see a bullish weekly Heikin Ashi candle reversal. With all this momentum, a 1.5% December gain would put us at 6,951 at year end, and a 2.2% gain would put us at 7,000. Lets hope for the latter. For TSP TIPS the Composite Scores (CS) of all funds improved this week, and that EMA/SMA Cross and Candle Reversal will max us out at 100. Additionally, the C fund has the best Performance Ranking with a very narrow lead over the I fund. As such, we are recommending the following new investment mixes. Lastly, it looks like Mutual Fund Window (MFW) TIPS might be giving us a buy signal this week so stand by for an alert.