Marets Pause in Pre-market After Tuesday's Big Gains

Freddie Mac (FNM) reports larger than expected loss of 821 million...futures are down slightly in the Pre-market trading... Overnight trading in Tokyo was up and in London trading has been slightly positive... Since the broad indices and many stocks had large white candles yesterday...if markets pull back in early trading watch if price action stays above the mid-section or the S1 level of that large white candle...if it does that is bullish...as sellers are not able to retrace a significant portion of yesterday's buying...in other words net for the two days...buyers are still stronger than sellers... Other companies reporting this morning...Pre-market trading...AGU up...FWLT up... FTO unchng...LAMR down...NDAQ up...TTES down...RIG up Also keep your eye on the price action relative to its 30 DMA which the indices closed above yesterday... Dave's Insight: A savvy trader will determine the difference between price fluctuation and trend reversal. Stay focused...