The collision of global markets and social mood

Wednesday, July 30, 2014

Trading Plan Vs. Government Figures

Early stop for today is 1967.31 -- with futures well bid after a strong GDP #, if the pattern includes a 5th wave to 2000+ it should most likely start now.

1955.59 remains key and should not be violated for the current proposed pattern to remain valid.

Regarding the latest GDP figures, according to Zero Hedge, the Commerce Department announced that Inventories and Trade, the two biggest components of the GDP beat, were estimated. If true it makes the whole thing highly suspect.

According to the government, inventories alone accounted for 1.7 pts of GDP.

I will not be altering my trading plan based on government figures.

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