If history is any indicator of future repeatable occurrences in the stock market, then yesterday's mini-selling should be about the only "pause" we will have in this bull run phase. Today should prove interesting as shorts are leaning too heavily since yesterday. It may have emboldened the shorts and that is always a bad thing.
Today, the exisiting home sales numbers are due. If it comes in below expectations, expect a market wide rally. Real estate is not out of the woods yet, and the New Home Sales data might be an abberation. If so, then we get the rate cut back on the table.
It should be a muted trading activity today ahead of the memorial day weekend.
Good luck and enjoy your mini vacation!
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