"There are two things that matter for us for practical purposes, the open and the close, what happens between is where we make tactical moves largely based on the strategic environment dictated by the open and the close."
This post followed the first post of the day, "GDP" in which nearly every Euro-Zone Country and Japan, all posted negative GDP, Germany for the second time, leaving the EuroZone to enter it's second, third and in some countries, 4th dip recession which I might remind you, the U.S. is 1 print away from a recession as well.
The EUR/USD plummeted 100 pips on the news, the market is extremely correlated to the EUR/USD and we got an open that I liked as I pointed out in the second post. However a little past the noon hour, the SPX is almost flat, the NASDAQ 100 is nearly flat, the Dow is admittedly down, and the IWM is green by +.25%.
Meanwhile, a quick and dirty look at other risk assets that should move with the market shows a problem, this is why it's the open and close that matter...
Since the New York open, ES has made a run higher while the CONTEXT model for ES has made the opposite, a run lower with a differential of a significant - pts.
That will be your preview for now so you can make any decisions you might need to make or put off any you might have been considering until I bring you the more specific update of our Leading Indicators which is becoming more and more valuable right now as price at this point, as a survival tool for banks like the Squid, is more deceptive now than ever.
What do you think the realistic reaction to an overnight Global GDP meltdown is? Buy risk assets?
More to come, but you should at least have that and THERE'S ONE MORE REASON TAKING HALF OFF THE TABLE IN AMZN MADE SENSE.
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