Today is a Redful Day. 71% of stocks are declining compared to 16% advancing. Both Jobless Claims and GDP miss the expectations by analysts.
Let us hope that 2moro's Chicago PMI data and Monday's ISM data is good. If not, expect more backlash. Please hold your trigger since the major reports will be out 2moro. I am waiting for a good Jobless claim data today. But it sure disappoint.
The strategy now is to hold the trigger and wait for Manufacturing Data to determine the next move.