10am update - its a Fed day

Besides the ADP and GDP data, its important to keep in mind that today is a Fed day. The FOMC will issue a press release @ 2.15pm. No policy change is expected. Meanwhile, the market has opened largely flat. The VIX is a touch higher, but still can't clear the 14 threshold.


sp'daily5

vix'daily3

 Summary

So...GDP was lousy, but ADP is still offering reasonable jobs numbers, assuming you think 150/200k jobs a month is acceptable for the 'new era'

It will be interesting to see how unstable/choppy the market gets at the time of the Fed announcement this afternoon.


Meanwhile...the AMZN, with an early morning black/warning doom candle. Hmmm

That does NOT look a very good stock to be going long..at least until it puts in a daily close ABOVE that double resistance.

I will again note..and realise it sounds like more crazy talk..but AMZN should be a $20 stock. But hey..it is..what is it. Great company, but it can't make a decent profit.  I blame management. How difficult can it be to raise margins 5-7% on sales? All it takes it a few key strokes.