Well I can say we were RIGHT ON about the Nikkei 225 for anyone who may have traded futures last night, from the After Hours post...
"*For those of you who may be trading the Nikkei, so far the futures look like it's going to see a bounce."
As for the US...
Although Initial Claims beat, Continuing Claims missed so I guess we can't get a feel for whether good is bad or good is good and vice versa.
Final Q2 GDP came down from the initial adjustment of 2.52% today's final print missed expectations of 2.6 when it printed at 2.48% print and guess what? The market didn't care about either event.
While this 30 min chart of ES is just starting to see a semi respectable positive divergence (I told you this has been weak all weak", more impressive is the size and shape of this base that I really didn't expect to be much in terms of size because the 3C charts were and for a base this size, still are very weak, but finally improving.
It seems quite obvious there's a stall to see what happens with the debt ceiling and the DC "debate", but overall, I have to say this still looks like it will fire, it just becomes hard to say how much of this is real base and how much is just killing time before Monday?
Remember, Thursdays tend to close near the Friday op-ex pin, which I suspect will be quite a bit lighter than last week for obvious reasons.
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