15 minutes until the GDP release and the ES is sitting at 1296, a couple of points off a multi-year high. From my readings around the blogs I get a very strong impression of bearishness. Very strong.
Maybe it is just what I read and in fact the world is bullish. But I doubt it.
Anyway, in 15 minutes the GDP will be out of the way and we can focus on something else.
2 points from its high and the consensus seems to be strongly bearish. We have been attacking the 1296 level a few times. Absorption? I think so.
Hey, maybe the GDP will come in negative and I will have ass kicked. But, I am still favouring the upside.