I've seen weirder things happen overnight.
But with my luck, it will bounce off 875 at 4am and then rally to 950 by 7am when I can sell.
If I had a larger account, I'd play futures after hours and skip the market entirely...but alas, I don't, so I have to play with the ppt giving us an upside surprise upside our heads every week or so now.
Not to mention tomorrow is existing home sales.. which will i'm sure be good.
4.65M is what's expected and 4.57M was previous..
June numbers for May COULD be dismissal.. but with a few number of homes being listed (is what i'm seeing in my area.. which is 8th worst foreclosure city according to REALTYTRAC).
Yeah, sure looks like we bounced off 910 or so. I'm usually wrong, but I got out of one of my long positions today...still holding a long and a short...so I'm hedged...unfortunately until we break out to the upside or downside, there is no real direction here.
I think we probably bounce off 875 again...but the upside target keeps getting lower. At some point, it will gap under and find support in the mid to low 800's. I'll probably sell out too soon, but this whipsaw is making me dizzy lately.