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do we ACTUALLY believe these GDP numbers?
Afternoon traders.
Your favorite futures analysts are back again with another market brief.
We just had a very bullish GDP print at a time when all time highs are being hit day in and day out.
So…are we back on? Is this the start of a new run?
Whether or not the bulls run with this, we’ve got you fully prepped with fresh levels to watch out for on $ES.
Let’s jump in…
Impact Snapshot
PCE inflation - Friday 8:30am ET
Market Evaluation
Stocks advanced Thursday as investors parsed data indicating continued economic growth and the latest corporate earnings reports.
We are on a track for 6 consecutive quarters of positive GDP growth. We have not had 2 consecutive quarters with declining GDP since Q2 2022.
Stronger-than-estimated US gross domestic product figures defied gloomy forecasts for a recession, bolstering the outlook for Corporate America.
Ultimate TradingView Suite
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/f95304ea-f75f-4b88-8cec-04575b6afcd1/a4293f49-88f3-4d72-866c-f81caead9115_1807x885.jpg?t=1707148395)
Yesterday’s market report we’ve posted Here, gave insights to the most important points of interest for the whole session.
Knowing when the market is testing the extremes and respecting key s/r levels helps manage risk and not get over extended.
By pairing our Tradingview Suite for market analysis together with our Q_Pro toolkit for execution, high probability trades can be seen throughout the session. Read update here.
Markets Breakdown
On Yesterday’s market update video Here, we highlighted the importance of focusing on value and not price.( Skip to 9:15 in the video)
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/3e603298-ff13-4701-94a6-6404b0852782/50a6b0af-fe39-4172-a71e-c7450730b01c_1803x880.jpg?t=1707148396)
Despite an aggressive selloff at the closing hours, the market today retraced right back inside the previous day’s value area, much like we were looking since yesterday.
What we wanted to see was the overlapping value areas which is a form of balance.
The market after this video we’ve made and pointed this out made an upside of over 0.78%.
That’s the difference between looking at price itself and where market found value to conduct business and simply returned back into.
![](https://media.beehiiv.com/cdn-cgi/image/fit=scale-down,format=auto,onerror=redirect,quality=80/uploads/asset/file/3306dd91-a086-42b0-bc97-a7ede4b0f7ed/a4564e28-f25d-4cb3-a6a9-7882635db325_1806x884.jpg?t=1707148397)
ES
Today’s market report gave a perfect reaction at the first key resistance we were looking early in the session. Read the report posted 7 hours ago into the overnight session HERE. Bulls need to reclaim above this area as highlighted for any meaningful continuation, read the update HERE
The targets we look for until NY close & Targets to pay attention Tomorrow:
Upside Levels: 4923/4937/4960
Downside Levels: 4898/4881/4859
That’s it for today.
We’ll see you Sunday!
P.S. — share this Substack with 1 or 2 friends if you find ANY pinch of value. That’s all we ask in return for these free reports.
Cheers.
-The QuantVue Team