US 2nd quarter GDP came out 4% instead of estimated 3% this AM. Market popped up but stayed in yesterday's range. It started to sell off after open with concern of early rate hike. As Alissa noticed: they seam to have concerns weather it's a good news or bad news. After FOMC's announcement market went up and down to look for clues as usual. ES closed below yesterday's low. It could be a HS forming. However July 19's break out could be a IHS as well.
Wheat and corn retested yesterday's low and met buyers. But neither of them broke yesterday's high. The down trend is still in place. I will sell calls or buy puts on any pops with seasonality consideration. Soybeans met more sellers today. It is the 2nd day loss after a 3 day gains.
I went to a doctor's appointment for follow up of my annual physical and took Alissa to a concert in Midtown. I didn't have any trade today.
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