Retail sales came in right on the button at 0.5% gain.
I totally fucked-up that call.
I don't believe the numbers, and I'm sure they'll be grossly revised down next month, but for today... I got it wrong.
D@mn ham.
FWIW, market should keep on going up for a few more weeks.
I think that even if all economic activity in the next month or two is flat that the market will be up.
If there was going ot be any reported weakness it would've been a lagging slump from MAY into APR.
Instead, we have a (bogus) APR Durable Goods Orders, foreclosure drenched ExHomes sales with increasing supply, declining drops in both initial claims & NFP and now a (dubious & largely flat) APR Retail Sales.
I don't see why any of this won't fare any worse going into JUL from JUN.
I'm sure the numbers will be just... ducky.
In fact, this past two weeks of infuriating, range bound consolidation should result in another short squeeze.
No rush till MAY Durable Goods two weeks away, though.
Options Expiration week is next week, so I'd expect some continuing, non-directional gyrations.
I'd be surprised if a lasting short squeeze manifested next week.
