Slope of Hope Blog Posts
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Well, the bulls – – who these days have to rely on government welfare, since they can't make an honest living – – must be upset. They had a surprisingly "strong" GDP on their side, as well as Bernanke grabbing his ankles again, pledging to do Whatever He Needs To Do, and yet the market still sells off.
Couldn't happen to a nicer bunch of folks.
The revised GDP numbers have rolled in, and bulls heaved a sigh of relief that they actually beat the consensus.
Bernanke's speech, scheduled for 10 a.m. EST, is the next big event. If he announces some giant new government giveaway, it might provide the bulls the power they need to get past the aforementioned resistance. If he just chats about how, my gosh, things are pretty tough, we might see a firm sell-off.