I also expect the EU to reverse. Despite the current rally the political instability have been increasing in Europe over the past few weeks that threatens the EU's €1.8 trillion budget and coronavirus recovery package.

So, the "correction" is still in progress. IMO it may go down more in the following half an hour, then we will see how the GDP data meets the expectations.

I agree, the market seems to be stretched, there is relatively little room left for growth, and with the Brexit "roller coaster" I also expect it will fall.