S&P 500 futures dropped after the existing home sales data but have stormed back equally fast and are near the highs of the day, up 6 points to 1553.
It’s far-from-clear that the triple bottom in the S&P 500 at 1538 will hold but the turnaround in sentiment today is encouraging if you’re a bull.
The yen crosses have had a similar turnaround but haven’t yet completed the rebound. That tells me the bulls are jittery and taking some profits. It could take another couple days before they can mount another charge at 100.00.
