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Greetings again, Everyone!
The GDP comes in @ 5.5% and the Weekly Jobless Claims rise by 15K with the “Seasonal” End-of-the-School-Year Cycle as the kiddies arrive for Summer Break, and we see Layoffs, RIF’s, and Transition in the U.S. Educational System.
( Of course…not the only Sector for Claims here… but Educational Employment is a major factor here… )
Initial Reactions to the Data sees Dollar and Yen Strength, as Risk Aversion slides back in as a Factor, as The Fiber eclipses our Lower Trendline from the April 22 Lows… as well as using it for Dynamic Support currently at the 1.3910’s Level.
Our Bear Flag is still “In Progress”, unless Price relinquishes last hours’ Gains and Clips the 1..3883 Dynamic Magenta-Line Resistance there…
Here is the Hourly Capture for a look at Levels, and Post-Time is 13:20 GMT…. with U.S. Equity Futures bidding a bit lower as we head into The NYSE Open.
We will check on this “Disconnect” with Gold and Crude Oil Correlations moving forward, since we have Appreciation so far with those Two Units… unwinding in accordance with current Dollar and Yen Strength from the IntraDay View.
Please join me soon!… there is plenty more to come!
