Futures Pointing to a Higher Open...

Dave will be in the Weekly Wrap with Tom Sosnoff and Ben Watson at 4:30 pm ET. 4:00 pm ET - SPX closes up 21.84, 2.41%...FAS +2.11, 20.30%...It's a Great Trading Day, It's a Great Trading Day... 3:15 pm ET - Support is breaking ES is falling... 3:10 pm ET - ES did breakout and rise to 927.75 and then rolled over and now back at 924 breakout are...is old resistance new support or will week end selling push lower? Is there one more rally in ES? 2:20 pm ET - ES is at the early morning high of 923.75 looking to breakout...if breakout succeeds look for move to 930+... 1:25 pm ET - Markets have provided plenty of opportunity today with the early am pullback...after a run in first 20 minutes of trading, prices pulled back until 10:30 am where the ES formed a double bottom and a breakout aroung 11:00 am. The ES is trading in the 922 - 923 range which is the area of its early morning high. The question at the moment is: Will the ES breakout of resistance and move to 930 plus or will it pull back? Well let's watch and find out... 9:45 am ET - Futures and stocks pulled back right before the open and created a nice entry opportunity near the open and prices have now rebounded...nice opportunity to enter ES at 9:33 at 915.75 already +5 in just 12 minutes...opportunity to enter FAS at 9:39 at 10.90 already +0.34 cents in 8 minutes...we'll see how the trend develops but stocks are moving to the upside.... BMO - ES +11 and NQ +11 futures are trading higher at 9:10 am ET pointing to a higher open. Financials are also strong in pre-market trading with XLF +1.73% and FAS +6.04%. HANS which reported earnings last night is up +$3.44 in pre-market. It appears that many of Thursday's bearish candles may not follow through today and that yesterday may be a single pause day. Friday should be an interesting day to see if buyers or sellers control. The Jobless Claims were 539K better than expectations of 610K, which likely will give some traders a reason to buy this morning. (click image to enlarge) At the Open on Friday SPY – bearish engulfing…up in after hours WYNN – black candle confirms bearish harami in bull flag STT - up in pre-market trading HANS - up in pre-market trading SCHN – bearish engulfing KOL – dark cloud cover MEE – bearish engulfing SNDA – black spinning top confirms shooting star ADBE – black candle confirms hanging man EBAY – bearish engulfing SHLD – bearish engulfing ISRG – black spinning top, new high close DHR – bearish engulfing DE – bearish engulfing RIMM – bearish engulfing SPG – bearish harami QLD – bearish engulfing FAS – dark cloud cover…up in after hours