Futures are close to flat this and leaning towards the down side but have erased further losses from earlier in the morning. Economic data has been the focus here before the markets open with Case Schiller Home Prices coming in above expectations and showing signs of continued growth. Chicago PMI will come out shortly after the market open so make sure to watch for reaction from the broad indexes. As far as major earnings go, make sure to check out X X, AVP AVP, BBY BBY, PFE PFE & AET AET for the active premarket action.
There’s a lot of people screaming for a pullback in the broad indexes folks and you’d be wise to focus primarily on the price action before listening to the noise. There are no signs of a major sell-off taking place anytime soon and no catalyst either. The FED minutes being released tomorrow could provide that stimulus but why bet without the proof?
We’re expecting a choppy day here with a lack of overall direction. This could open the door to some writing strategies or just not trading at all.
Make sure to register for the next FREE WEBINAR taking place after the close tomorrow! The topic for this gathering will be TWITTER!
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