GDP reiterated at only 1.8% for the first quarter, lower than expected. Initial jobless claims to 10k to 242k, higher thank expected. Durable goods orders well below estimates yesterday. Leading indicators report last week pointing down. All these trillions in stimulus and this is the best you can do Mr. Bernanke? Thank heavens for QE Mini-me! Interest rates are falling signaling a slow growth/low inflation environment.
Stocks are likely to trade down a bit in the absence of any good news and they begin to rally as we get closer to earnings season. The game changer will be if the Fed initiates another QE type program, which I believe they will have a hard time not doing.