With mortgage rates at a fresh 4-yr high…

…and mortgage payments up 31% YoY… …this morning’s pending home sales report (10AM ET) will take on added importance. Consumer sentiment will come out at the same time.  Remember, it hasn’t been going all that well of late.

Futures ramped overnight but are drifting slightly lower as we head into the open.

continued for members…The equity picture hasn’t changed. It’s still broken out, but not really going anywhere.

VIX is approaching the SMA200, which should offer support. USDJPY has clearly pushed above the red neckline, but is sliding back toward it this morning. Overshoot and backtest? Reversal? Its next move is quite important to the overall market. Likewise, GC and SI are backing off their latest bounce. And, BTC is coming up on our neckline backtest target… …with the possibility that it breaks out in order to backtest the SMA200 rather than waiting. Oil and gas are off slightly, in keeping with the 10Y’s reversal. Stay tuned…