Thrift Savings Plan

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John Murphy's Take on C Fund

"S&P 500 HEADING TOWARD TEST OF 2015 LOWS... My weekend message expressed the view that the major U.S. stock indexes were likely headed for a test of 2015 lows. That test is getting a lot closer. The daily bars in Chart 8 show the S&P 500 losing more than 1% and bearing down on its late September/ mid-August intra-day lows. That's a very important test. A decisive violation of those lows would signal a much deeper correction. The Russell 2000 Small Cap Index has already fallen to a more than two-year low, and is now in bear market territory with a loss of more than -20%. That's not an encouraging sign for the large cap SPX. I continue to believe that the current market condition is the riskiest since the bull market started in 2009."