A bullish U.S. Third Quarter GDP Report this morning has helped launch a strong rally in the December stock index futures. Traders have renewed their demand for higher risk assets after a four-day decline. Technically, the markets are only retracing the recent down move. A close on the high and a follow-through rally tomorrow will be a better indication that the correction is over. Although the report was bullish, it is stale data. Traders want may want to see if the economy continues to improve before committing new money to the market. Many investors feel that this report was already priced in and that after today’s rally and 50% retracement of the recent break, the correction will resume.
Article
Bullish GDP Report Launches Equity Market Rally
Posted, by Futureshound on October 29th, 2009
Authored by, Futureshound
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