I agree as I now think timing is more important, which is a purpose of TA. I was hoping to say that market might sell off or ramp up based on those numbers, but it seems that algos kept it within a tight consolidation range. On weekly charts, we are now 2 weeks unmoved.

A couple of things to keep in mind regarding GDP:
Generally, GDP is the sole metric used to identify recessions, defined as 2 successive quarters of declining GDP.
The thing is that every single recession in history has only been identified in hindsight by the BEA. That makes sense not only because GDP is released well after the fact. For example, today’s GDP report was for Q1 (Jan – March), which ended a month ago. Therefore, we’re looking at data covering a period of 1-4 months in the past.
Then factor in that GDP is usually revised & while I don’t know the stats off-hand, my experience has been that they are almost, if not always, downward revisions to GDP well after-the-fact during a recession so by the time the gov’t officially acknowledges that the US is in a recession, we are already many, many months into it & the biggest kicker is that the old saying goes “the stock market looks out 6-9 months ahead:.
I’ve seen that statement to be true many times over. Insiders know when their business has turned a corner & they start selling long before the economic data reflects a slowdown in the economy.
Bottom-line: Investing solely on fundamentals (FA), especially certain lagging data that is frequently subject to after-the-fact revision such as GDP, is akin to driving while looking in the rear-view mirror. As such, technical analysis is a much better predictor of future stock prices IMO although FA certainly has its merits as well.

The gdp will be the game changer. I believe there is a chance we go at around 1.6% or even lower. Pure speculations.

We have have “standard” view of a bear markets (something like 2000 or 2008). If you ask me, i say we have a bear market in 2016, even though it looks like a sideways market if we only the major indexes (QQQ, SPY, DIA). I think my early posts today at least implies the mistakes of only looking at these 3 indexes alone.
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In 2016, quite a number of sectors dropped far more than 20%. But because they don’t drop across board at the same time, rather they rotate one after another, the major indexes never revealed the underlying weakness.
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I think even if we have a bear market, it’s more like 2016 than 2000 or 2008. In fact, this 2 bear markets are really more of exceptions than the rule.

Congrats on a good day. While I think there is a good chance this is a bear market rally, we still can’t write off the aging bull just yet. Too many long-term indicators still solidly bullish & even the QQQ is still above it’s TL off the 2015 lows, although just by a hair. The only problem with the long-term trend indicators, especially at this point in time since the Trump pump & subsequent rally all the way to the Jan ’18 blow-off top was so strong & unidirectional, those indicators reached such high levels (so far into bullish territory) that by the time they confirm that the primary trend is bearish, this market will most likely be down well below the standard definition for a bear market of a 20% drop off the highs.
The only way that doesn’t happen is if the market holds up for the next several months but moves largely sideways as that will continue to bring the long-term indicators down. Anyway, only time will tell if this is a bear market rally or the recent back to back corrections were simply another bump in the road to new highs.