Technically oversold short-term Global Markets trader higher today. SPX is at the lower range of last week. I do not see a clear reason to add long positions at current levels.
$SPX +1.75% today
U.S. economic growth slowed in the first quarter but not as sharply as previously estimated, and while there are signs of a pickup in the second quarter, analysts worry Britain’s vote to leave the European Union could hurt activity later this year.
Gross domestic product increased at a 1.1 percent annual rate, rather than the 0.8 percent pace reported last month, the Commerce Department said on Tuesday in its third GDP estimate. The economy grew at a rate of 1.4 percent in the fourth quarter