Thursday, April 23, 2009

Futures Point to Higher Open...

BMO - ES +7 and NQ +19 futures are trading higher in pre-market about 90 minutes before the open. AAPL is up over $4 after reporting earnings on Wednesday. RIMM, WYNN, BIDU and GOOG are alos trading higher in pre-market trading. Look for support bounce and bounce follow through opportunities in trading as the market heads higher. Check out these bull flag breakouts from out At the Open List: (click image to enlarge) At the Open on Thursday SPY – inverted hammer DECK – spinning top SNDA – black spinning top EBAY – bull flag breakout SCHN – shooting star GME – spinning top at 200 DMA SHLD – spinning top at 200 DMA ADS – black spinning top in bull flag STT – black spinning top above S1 AG – bull flag breakout XRT – white candle USD – support bounce break high of low day URE – bullish engulfing WYNN – bull flag breakout LEAP – inverted hammer ISRG – large white candle horizontal breakout
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1 comment:

JS said...

Okay, Dave, this is the hard part, I guess. I am looking at the chart of SPY and seeing weakness. (Tuesday's lower low, Wednesday's lower high and Thursday being inside day.) Is this my "thinking" or "seeing" what the chart is doing? The trend is still up since March, but the price seems to be rolling over. Since the change in the market is the hardest time for me, how do I set up rules at this juncture to be sure I neither miss the next move up, or the next move down?

April 23, 2009 at 10:06 AM

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