Market & Trade Update – Q2 GDP came in at 1% contraction, better than expected

Because Q2 GDP came in at a better than expected 1% contraction, this will hold the market at current levels for the next week. We wouldn’t be surprised to see rallies in the last hour of trading for the next few days which should give us an opportunity to open our top, Aug bear call spreads. We’ll keep you posted when we set some strike prices for our Aug bear call spreads.

With this said, unemployment numbers are coming out next week on Friday the 7th and the market probably will go into a holding pattern starting next Wednesday as investors await this release.

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