My opinion is that market will rally on GDP numbers whatever:
If they are bullish, it will rally because the economy is doing so good. If they are bearish, it will rally because FED is more likely to cut rates.
After the final wave up is complete at the projected high 29th ish, then there will be some "jawboning" into the Fed-meeting on Wednesday 31st, so I think we'll get the first wave down. Then the FED interest decision on Wednesday and it will be the third day of the downtrend, so a rally up is to be expected, which should be sold off deeply into Friday, before probable some relief rally into the close and final low on Monday 5th or Tuesday 6th.
If they are bullish, it will rally because the economy is doing so good. If they are bearish, it will rally because FED is more likely to cut rates.
After the final wave up is complete at the projected high 29th ish, then there will be some "jawboning" into the Fed-meeting on Wednesday 31st, so I think we'll get the first wave down. Then the FED interest decision on Wednesday and it will be the third day of the downtrend, so a rally up is to be expected, which should be sold off deeply into Friday, before probable some relief rally into the close and final low on Monday 5th or Tuesday 6th.
Comment:
A bit muted in dow, spx reacted better. Lets see Monday