In addition to weekly jobless claims and Chicago PMI today’s data docket includes the “final” revision to 4th quarter GDP. Usually this third estimate of GDP sees little change from the prior two reports and, therefore, doesn’t move markets too much. However, Q3 saw a large, unanticipated downward adjustment so we’ll just need to watch to see if any of today’s news is market moving. With markets remaining in a position where the wave count would allow for a turn yet doesn’t require it, a catalyst for change in direction could come at any time.
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