PRE OPEN SPX

Futures are trading lower in the pre market with SPX-2.75, NDX-4 and DJIA-21, all on the heels of overnight weakness and lower 3 q GDP at 1.6% vs. 2.1% consensus. So if the markets are going to pullback is this the excuse? Of is there no way the markets pull back as all the under invested folks want to jump in on any move lower?

The markets have been as strong as they get with a Direction Index reading of 34 and a 2 day RSI reading of 99.6. A directional index reading of 34 for a major market index is about as high as it gets and a 2 day RSI can go no higher than 100 so just maybe a pullback is in the cards.

Here are some data points that may come into play. A pullback to the 8 day SMA on the SPX is 1,377, to the 21 day is 1,361 and the 50 day 1,332.

Remember the markets do what one generally least suspects- another push higher? a pullback way lower?

YM Futures opening in the 12,165 area and the Pivot is 12,180, support 12,140 and resistance 12,215. Just wondering if today is the day where the pullback buy won't work.