30 July 2014

SP 500 and NDX Futures Daily Charts - Triumph of the Swill

GDP was 'better than expected' this morning, coming in at 4.0% growth.

Well, it was not better than expected if you read my forecast about what they would do with it and the revisions.

 They even improved the fourth revision of that anomalous one-off please ignore it Q1 to only  -2.1% vs. a -2.9% decline. Progress!

The tech bulls are riding high, laughing it up on bubblevision. 

It's a new paradigm, don't you know?  They are feeding this bubble on swill. 

Have a pleasant evening.