Post-open eMini S&P 500 Morning Update

A mildly bullish Existing Home Sales report at 10:00 am has lead to a retest of the overnight highs, but is now retreating after a failure to break through.  Should we see the 905-906 support area taken out, we will likely head to the 898-899 pivot area.  Volume relative to the last 10 sessions has been slightly above average.  NYSE adv:decl ratio dipped below its trendline support briefly before heading back above.  A breach has been a fairly reliable indicator that the day’s high is in.

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