Q4 2010 GDP

The figs are out … screenshot from the marvellous Forex Factory economic calendar, here:
http://www.forexfactory.com/calendar.php

I have circled the inflation figure – lower than previous and much lower than forecast.
Good.

The actual result for the Advance GDP was not as high as was recently expected, ES reaction is … not much.

Well, about 45 minutes until cash opens, the ES it sitting just below its highs. I think the absorption continues and will again be going into the day with a buy bias. For those bears, though, with the market so close to its recent highs, this is an ideal time and place to short.

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