Futures are Higher in Pre-Market

Dow, S&P, Nasdaq and Russell futures are all higher with about 90 minutes to go before market open. We'll watch and see if this translates into a stronger cash market on Wednesday. The primary factors to the broad markets still seems to be a combination of financial stocks and oil prices. Pay attention to key support and resistance areas in Wednesday's trading. The broad indices and are still in an intermediate term up trend and in a short-term down trend after Tuesday's pull back. Many charts are forming bull flag patterns of two or three day lengths so watch those charts for support bounces. The oil, coal, steel, gold and Ag-related stocks have had bounces in their down trends the last two days. These are essentially bear flags. If oil prices pull back and continue its intermediate term down trend look for these stocks to give a resistance bounce down and a possible break of their bear flag patterns. HPQ reported strong earnings after the close yesterday and is higher is pre-market trading. Other tech stocks also trading higher in pre-market: AAPL, RIMM, BIDU, GOOG