Still marking time

So far, absolutely no follow through from the Bulls off of Friday's rally.  As mentioned on Sunday evening, first upside resistance is the gap fill at 1067, and all the Bulls were able to manage yesterday was a brief trip to Friday's close before selling off for the remainder of the day. 

So for the last 5 trading days we've been stuck in range between 1040 and 1065, and at some point soon we will resolve in one direction or the other.  As previously posted, I've been hoping for a bounce so I can short into resistance, as aside for a modest insurance position against another flash crash scenario (out of the money Oct/Nov puts), I'm in all cash right now. 

At 5:30 AM, Futures are down a bit, but it's still too early to make any calls for today.  Later this morning we have the following econ reports, with consensus expectations shown.   Surprise results in either direction are likely to give us a tradeable move....for day trades at any rate. 

Tuesday 9:00am, Case-Shiller 20-City Index, 3.5%
Tuesday 9:45am, Chicago PMI 57.5
Tuesday 10:00am, Consumer Confidence, 50

Let's see how the morning develops.  I may post again later, but my day job will likely keep me out of the markets again today. 

-click to enlarge-

Good luck trading.