We got a horrible first quarter GDP and durable goods number. These were both surprises versus expectations, yet the markets have been calm. We have a big divergence between what many investors are expecting and what we are seeing in the numbers. Investor optimism versus a more tepid reality. This cannot last.
The VIX index continues to trend lower. More interesting has been the intraday range for trading. There is none. The market is not moving between the open and close. A closer look will show that the majority of moves is coming between the close and open when government numbers are generally announced. Find out about the macro numbers and then go home.
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