Tuesday, May 19, 2009

Futures Pointing to a Flat Open...

BMO - ES +1 and NQ -3 are trading flat in pre-market trading pointing to a flat open. Looks like we may need to wait for cash markets to open to see if the support bounce will follow through or if Tuesday will be a pause day. Look at these charts for Tuesday morning... (click image to enlarge) At the Open on Tuesday SPY – large white candle support bounce KOL – large white candle confirms inverted hammer FAS – support bounce large white candle URE – large white candle break high of low day USD – white candle break high of low day STT – bullish engulfing ZION – large white candle break high of low day WAB - large white candle break high of low day EBAY – large white candle resistance breakout new high close ADBE – white candle break high of low day WYNN – white candle inside day SCHN – large white candle break high of low day JNPR – white candle break high of low day CTV – white candle support bounce BBT – white candle confirms hammer OSG – white candle breaks high of low day EL – white candle breaks high of low day WHR – white spinning top confirms inverted hammer RIMM – hanging man

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