Glimmer of Weakness Emerging from Jobless Claims?
Economic Data-- Well now, GDP growth was hot and prices remained firmer than expected, but maybe there is a glimmer of weakness emerging from Jobless Claims? No? Okay, well I tried...
ES initially "algo-reacted" to the downside but has since reversed from 4175.75 to 4194, and NQ from 14,323 to 14,402, although both remain down in the pre-market session by -0.4% and -0.6% respectively. Let's see if ES can claw its way above unchanged at 4209.75 and NQ unchanged at 14,478.25-- especially into the closing bell, to imbue the technical setup with a modicum of evidence that a near-term low has been established... Last in ES is 4194.50... Last in NQ is 14,397.25...