Futures Point to a Higher Open...

SPX is breaking through 875...if the breakout holds...price target becomes 924.43 with a time target of nine trading days... BMO - ES +8 and NQ +11 futures are trading higher in pre-market trading pointing to a higher open. Stocks have been in consolidation over the past two days without much of a pull back, which is generally bullish. This is conceptually similar to a large white candle and followed by consolidation trading which does not break below the S1 level, followed by price moving higher. The last two days could be viewed as a miniture bull flag. Today might be the day we see price action break through the 875 on the SPX...the Nasdaq chart target is still 1,765. The Nasdaq is has been pulling modestly back from a higher high to a higer low in a miniture bull flag. There should be some interesting opportunities in our At the Open list. Check out these charts and the charts in last night's post... (click image to enlarge) At the Open on Wednesday SPY – spinning top ALGT – bull flag support bounce at 30 DMA SCHN – white spinning top at 200 DMA ICE – inverted hammer at 20 DMA DECK – close above support of 30 DMA SNDA – spinning top at 20 DMA ADBE – doji at Friday’s S1 EBAY – inside day inverted hammer at 200 DMA GME – spinning top close below 200 DMA SHLD – doji at 200 DMA ADS – spinning top AG – confirm bearish harami…support bounce at 20 DMA LEAP – inside day potential bearish harami after two day bounce ISRG – confirm bearish harami…close above Friday’s S2 DHR – spinning top in two day bull flag…potential low day XLNX – inside day