what data came out at 7:00am caused the spike up

An unexpected rise in pending home sales.

National Association of Realtors said pending home sales rolse 0.7% in February to 109.3 following a revised 4.2% drop in January.
 
Quote from Landis82:

An unexpected rise in pending home sales.

National Association of Realtors said pending home sales rolse 0.7% in February to 109.3 following a revised 4.2% drop in January.
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Too bad that's not the 8% drop YoY and is instead MoM...silly shit.
 
"The index of signed purchase agreements, or pending home resales, rose 0.7 percent to 109.3, after a revised 4.2 percent drop in January, the National Association of Realtors said today in Washington. The index was down 8.5 percent from February 2006."

If that's good enough to rally off of I'm going to start looking out the window for a flying pig.
 
Quote from blast19:

If that's good enough to rally off of I'm going to start looking out the window for a flying pig.
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Why would you believe some stupid little indicator from the National Association of Realtors as being the "catalyst" for a 5 point move in the SPX?

It's called APRIL.
The market wanted to go up regardless.
Deal with it.
 
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