We have housing and consumer confidence data today, they are not exactly the most market moving things, but market will doubtless be swayed a little. I'd guess con'con will show just as stupidly high a number as the consumer sentiment number from last week. Just who are they asking those 'how bullish are you?' questions anyway?
Sp'60min
Considering the cycles, we should be opening lower, but since we're not, I'd still look for black candles on the indexes (especially the Rus'2000) in the opening 9.30/10am period. Similarly, if the VIX opens down around 5%, look for a red reversal candle.
As ever, how we close today..will be even more important. Bears would really prefer a close under sp'1300, but that now looks way out of range. Something in the 1310/05 would be my target.
Bulls just need to break 1330..and that opens up 1340...if that is held over..then 1370/80.
--
*FB -1.6% in pre-market...sub $30 is possible today !
More across the day...