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US GDP exp 3.0%, actual 2.5%

VIX ticking up steadily, $15.15 at this moment.   

Nas and S&P neg since start, Dow just joined neg, all picking up speed.

Signing off, have a good weekend all.

Another day in paradise?

09:00  Spanish GDP  Prev -0.8% Exp -0.5%, Act -0.5%
09:55  Ger Unemployment Prev Prev 6.9%  Exp 6.9% Act 6.9%
09:55  Ger Unemployment Change Prev 13K, Exp 2K, Act 4K
11:00  Eur CPI YoY Prev 1.7% Exp 1.6% Act 1.2%
11:00  Eur Unemployment Prev 12.0% Exp 12.1% Act 12.1%
14:00  SA Trade balance -9.52B Exp -8.50B Act 7.77B  Wat sę hulle nou weer van 'n blinde hoender...

You referring to the double top?  I was kind of expecting two strong down days, two strong up days this week, i.e. down, up, down, up all to do with expectation and reality but yes, not so strong after all at least for day one, too many chocolate kisses and utopia promises out there, and don't forget the happy hippies.    I still can't convince myself to go long in this market, rather waiting for ups and short it, and still thinking longer term is down not up.  So I guess we disagree then?

Edit:  Oh, my bad - you're referring to the two events 1st & 2nd.  Me too, waiting and watching - at least we will get some sort of direction then.

The Federal Open Market Committee releases its statement at 2 p.m. in Washington following a two-day meeting. None of the 47 economists in a Bloomberg News survey conducted from April 25 to April 29 forecast that the central bank will change the pace of its bond-purchase program this month.

Chairman Ben S. Bernanke will probably reduce the Federal Reserve’s monthly bond buying in the fourth quarter to $50 billion from $85 billion, economists said in a Bloomberg survey. The central bank will probably leave its benchmark interest rate unchanged at 0.25 percent following the meeting.

The ECB announces its monthly interest-rate decision tomorrow.

After reading market reports today, I am seriously thinking of switching to cash. Tax implications will be a minor problem if I can avoid a correction.

Orca, rather unusual to see a statement like that from you. What gives ? 

Maybe a good thing for investors we had a holiday yesterday with Fed's usual 'may, may-not'-attitude, DOW down with 145 points at one stage with gold, silver & copper taking a beating.  Today much happening with Italian, French, German & Euro PMI from 9:45 - 9:58.  SA Manufacturing PMI @ 11:00, EU interest rate 13:45 and ECB press conference @ 14:30 as well as US Continuing, Initial jobless, Non-farm productivity and Trade Balance at same time. Enough to confuse even the most perceptive trader, luckily we love a challenge.

Edit:

ECB cut 25 basis points (expected) and they are as always 'ready to act' (also expected)

Now we can move forward without 'central bonkers' confusing issues.