BEA: Real GDP increased at 1.6% Annualized Rate in Q1
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From the BEA: Gross Domestic Product, First Quarter 2024 (Advance Estimate)
Real gross domestic product (GDP) increased at an *annual rate of 1.6
percent ...
2022-06-28
Out of More Calls, Stopped Out of Long, Added XLC, TLT
If this rally will survive, it will have to turn around here. Nasdaq has retraced the entirety of its breakout from the inverted H&S pattern.
Here is the ES and SPY. The former has formed a nice base and retest around 3820. The latter still has that gap down at $378.83, but also still has that island reversal below.
I did add to the XLC trade today when it filled the gap.
Here is TLT. My sense is that bonds can rally on stock weakness or strength. It's a trade though, not sticking around for a flush to new lows should the bond and stock markets crash together.
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