Futures haven’t decided whether this morning’s strong GDP 2nd estimate is bullish or bearish.

The 10Y and 2Y have both bounced on the news, with the spread slipping to a mere 18 bps.

continued for members…

ES is still hanging around its white channel top…

…as is SPX.And, VIX is still in an ideal position for a breakdown if TPTB so wish.On the currency front, USDJPY is still easing higher… …as EURUSD has possibly reversed just shy of our 1.1734 target.  The complication is that the approaching SMA200 up at 1.1959 might tug the pair higher before the next leg down.

This leaves DXY in a continuing slump, but just short of an actual breakdown.Oil and gas are holding their own after yesterday’s mildly bearish API report.  EIA inventory data is due out at 10:30 this morning. I’ve been battling a bad cold the last few days, so I’m going to sign off and focus on trying to finish some interesting inflation charts and then head back to bed.

GLTA.