GDP Rises to Highest Level Since 2003

While the ultimate pace of the economic rebound continues to be debated, GDP in the fourth quarter rose 5.7% (expectations were for growth of 4.6%), which was the fastest pace in six years.  Granted, this growth follows an even bigger decline of 6.4% in the first quarter of 2009, but at least it's a start.  Judging by the performance of equities in the fourth quarter, and the earnings reports we've seen so far, we already knew the fourth quarter was strong, the big question is whether or not this growth will continue in Q1.  Based on what we've seen so far in terms of guidance, companies seem to have a positive outlook.

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Comments

[Speculation]

I believe one key area is 1080 as shown on the chart below.

http://bit.ly/c0K9pq