Don't understand why anyone would be making their predictions so early tonight given that GDP data and jobless claims are out at 8:30 ET (2 hours time). The potential range today is +/-300 depending on how the data looks.
Ok so how would that affect actual trading? If GDP data is good and jobless claims are low, will market tank because that means the Fed can choke off more stimulus? Or will market rise on encouraging economic news? I can promise that I have seen in the past two months DJIA rallying and tanking at different times due to supposedly good economic news. The headlines fit in on either shoe too. If markets go down, headlines will scream something like:
Taper fears grow as economy rebounds
If markets go up, they scream something like:
Encouraging jobless numbers lift market
The time of making logic based decisions like if A do B, are gone. Market will do C or D regardless of whether the news is A or B.
