It's Looking Like a Higher Open and a Potential Support Bounce

Thursday, Feb 19 BMO – With 90 minutes before the open SPX +12 and Nasdaq +12 futures are trading higher pointing to a higher open. Maybe the recent sell off is complete and the market is ready to bounce. A bounce could make for an interesting trading after the market has been down six of the last seven days. This could be the break of the high of the low day...so stay tuned. Refer to Wednesday’s post for setups that attracted our attention last night and keep your eye on AMZN, BIDU, GILD, GOOG and PCLN at a minimum. PCLN reported better than expected earnings after the close last night and is trading over $10 higher in pre-market trading. Looks like Thursday’s are better than Wednesday’s, at least this week, as far as companies reporting better than expected earnings. On Wednesday most of the early reporters were below expectations, this morning most beat expectations. Earnings Thursday, February 19 AGP +.70 beat +0.56 APA +0.82 below +1.26 CTL +0.88 beat +0.82 CVS +0.70 beat +0.69 DSX +0.72 inline +0.72 EXPE +0.22 below +0.24 GG +0.12 beat +0.11 HOS +1.31 beat +1.05 NEM +0.26 beat +0.25 NBL +0.91 beat +0.79 PDCO +0.45 beat +0.44 PDE +1.13 beat 1.05 RS +1.07 beat +0.61 SPAR +0.09 below +0.11 SFY +0.66 beat +0.54 S -0.01 beat -0.03 TRAD +0.18 inline +0.18 WPI +0.53 beat +0.50 WST +0.56 beat +0.52 WMB +0.35 beat +0.30 XTO +0.68 below +0.78 Numbers exclude non-recurring items