Early Update – Small Caps and NASDAQ Underperform

11:23 a.m. ET Existing Home Sales (10 a.m. ET) were not pretty. Total existing home sales SAAR dropped to -3.79mm – the lowest/slowest pace since the tax credit expired in Aug 2010. Existing Home Sales tumbled -4.1% month-over-month (expected -1.5%). That’s the 20th monthly decline of the last 23 months. Existing Home Sales are now…