Friday, July 31, 2009

GDP Today

Very short - either confirmation of island reversal on the daily OR a new high. Unfortunately the new high has a very high range. Here are a few key numbers to look for ...

998 - 1004 = big range yeah but anything in this area is possible, I would actually consider a stall before the big 4 digits as the most likely scenario, its a bit odd but the market has its own ways.

1014 = you all know this number by now as we and others have been talking about it for months (though I did not come a believer of this number until the past 2 weeks even though we had considered it in the past). I went back to my posts all the way to March 2009 Why did I ignore my own analysis there? I really have no idea, of course back then we were over 200 points away and I had NEVER in a million years anticipated a run up this strong. Lessons learned I guess.

1021-1022 = yeah, I know lol

8:30AM EST is all I have to say, lots of fireworks today and some good confirmations for us going forward.

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