While the "day before the day with huge potential volatility" occasionally surprises us with a relatively large preemptive move, we're still waiting on the potentially hugely volatile day itself (then for another one two days later).  Wednesday and Friday clearly have huge potential, and the many market events contributing to that potential will likely keep today hesitant to try anything funny.  The key data--Consumer Confidence--is a bit more potent than yesterday's Pending Home Sales, and combined with the fact that we're one day farther into the week, it's not unreasonable to expect a more active session.  But given that we're also one day closer to Wednesday, unless we get one of those "lead-offs" (a big one doesn't seem as likely here), Today remains in a league with Monday, rounding out two days of warm ups before the big game begins tomorrow.  

Long term Consumer Confidence:

Long Term 10yr Treasury Yields:

Case Shiller Home Prices are out at 9am and while housing data is relatively interesting at the moment, the data in question is from the month of May.  The transactions informing that data still haven't made it to the time frame of originations that would be subject to higher rates, thus making any serious examination of rising rates' impact on prices a bit premature.  Consequently, it's not nearly as interesting as the next two months.