RE: RE: Markets bottomed this morningJobless claims Thurs and then, yes, GDP Friday will be important data. I don't have a strong opinion either way on the GDP numbers, but I will say that I am seeing a massive rally for the next week or so. There could be a fairly substantial pullback in about a week from now, but we could see well over 1100 S&P in a week's time. I'll be fine tuning that as we go.
So if the GDP is bad it won't cause more than a minor hiccup in this rally imo. We're at the spot where mkts can rally even on bad news. In the last session we had terrible new home sales that put in the low first thing in the morning, and then rallied strongly to finish the day. Also, check out the homebuilder stocks for example TOL - NYSE. TOL put in the bottom on Tues existing home sales and rallied very strong on huge volume on the Wed terrible new home sales. We're in rally mode now!!! (as crazy as that is). I can almost hear Goldman and the boys scheming with Uncle Ben up at the Jackson Hole lodge!
SC