Wednesday, May 13, 2009

Futures Pointing to a Lower Open...

BMO - ES -15 and NQ -21 futures are lower in pre-market trader pointing to a lower open. INTC received major fine from EU for sales tactics and retail sales for April lower than forecasted. Futures are pulling back to Tuesday's support low...watch for bounce or break and trade accordingly... Look at thses charts...is there a potential support bounce in these charts? (click image to enlarge) At the Open on Wednesday SPY – hammer in horizontal flag FAS – black spinning top bounce off 20 DMA STT – hammer in bull flag WYNN – black candle in horizontal flag KOL – hammer in horizontal flag SCHN – hammer/bullish harami EBAY – black spinning top in pennant above 200 DMA SNDA – white candle support bounce ZION – black confirm bearish harami two day bull flag ADBE – black spinning top in bull flag J NPR – white spinning top in bull flag CTV – black spinning top in bull flag BBT – large black candle in bull flag OSG – hammer in bull flag EL – black spinning top in bull flag

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