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MLR - Premarket Pulse September 20, 2012

Overnight Asian markets have sold off, creating softness in the U.S. futures this morning. The market remains in what is so far a three-day consoildaton of last week's gains, with pullbacks occurring on lighter volume while yesterday's mild upside move was accompanied by increased volume, all of which is constructive action.

The Bank of Japan, also on the QE bandwagon, has said it will increase the size of its asset purchases by 10 trillion yen ($126.7 billion) to ¥80 trillion.

The National Association of Realtors said sales rose 7.8% in August to seasonally adjusted annual rate of 4.82 million, better than the 4.6 million expected by economists.

S&P500 re-balancing, set for after the close Sept. 21, will produce distorted levels of volume on that day.

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