Dow Gains Ahead Of GDP Release
FUNDAMENTAL ANALYSIS
Friday is going to be a heavy weight day with the GDP and Consumer Sentiments release. The Dow gaining over 60 points in one day today seems to indicate a strong bullish sentiment on the releases on Friday morning. GDP measures the dollar value of all goods and services produced within the borders of the United States, regardless of who owns the assets or the nationality of the labor in producing that output and is the most comprehensive measure of the performance of the U.S. economy. Healthy GDP growth is between 2.0% and 2.5% (when the unemployment rate is between 5.5% and 6.0%). This translates into strong corporate earnings, which bodes well for the stock market.
TECHNICAL ANALYSIS
No surprise today as the Dow gains a little, within yesterday's trading range as it continues to play within the channel that I defined yesterday. I don't think we will see any serious breakouts anytime soon.
Friday is going to be a heavy weight day with the GDP and Consumer Sentiments release. The Dow gaining over 60 points in one day today seems to indicate a strong bullish sentiment on the releases on Friday morning. GDP measures the dollar value of all goods and services produced within the borders of the United States, regardless of who owns the assets or the nationality of the labor in producing that output and is the most comprehensive measure of the performance of the U.S. economy. Healthy GDP growth is between 2.0% and 2.5% (when the unemployment rate is between 5.5% and 6.0%). This translates into strong corporate earnings, which bodes well for the stock market.
TECHNICAL ANALYSIS
No surprise today as the Dow gains a little, within yesterday's trading range as it continues to play within the channel that I defined yesterday. I don't think we will see any serious breakouts anytime soon.
posted by Jason Ng at 7:34 PM
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