Global macro overview for 28/09/2015:

The day is full of events from the US today. One of the most important is Pending Home Sales data scheduled for release at 2pm GMT. Last week, the report on home sales showed mixed data as sales of existing homes decreased in August to a four-month low, but purchases of new homes were much better, rising to a new post-recession high last month. Today, the market expects a slight decrease to 0.4% from 0.5% last month, so any number better than this might be a surprise.

The technical picture for SPY (S&P500 ETF) is still quite unclear, but it is trading inside the bearish zone and below the golden trend line. A breakout below the level of 190.00 will be even more bearish and the test of the recent lows at the level of 182.50 might be seen soon.