Thursday, July 24, 2008

BIDU Up in Pre-Market, Watch Support Resistance Levels on Indices

Futures are down in pre-market, if the market moves down after the open watch those key support levels and look for the market to make a higher low. If markets move higher focus on breakouts and stocks that hold above those breakout levels. Watch the price of oil to see if it continues its recent short-term down trend. This will give clues to the strength of stocks today and for the next several days. Lower oil will most likely continue to equate to higher stock prices. Stocks that released earnings yesterday AMC Pre-Market Trading: BIDU +36.66, QCOM +9.99, AMZN +5.85, WFR -9.55, CDNS -2.79 Watch the market action of stocks scheduled to release this morning: MMM, BMY, CELG, CNX, DO +4.39, FLIR, POT +2.91, LUV, STRA, UNP +2.16 Thursday's AMC schedule: JNPR, MCHP, WDC, WYNN

No comments: