Thursday, June 18, 2009

Futures Pointing to a Flat to Higher Open...

Total jobless insurance rolls fell by 148K, the largest drop in seven years. BMO - ES +3 and NQ +3 futures are slightly higher in pre-market trading pointing to a flat to higher open. SPX closed at 910 in the area of the 200 DMA support. Watch the trading this morning to see if this support area holds. The VIX was lower yesterday and the SOX higher. Next support area is 893, the 50 DMA. RIMM reports earnings after the close. Thursday is the last day for most index futures and options and Friday is quadruple witching. Look at these charts... (click image to enlarge) At the Open on Thursday SPY – spinning top USD – hammer/bullish harami FAS – black candle below 50 DMA FAZ – white candle above 30 DMA UNG – holding above 30 DMA AAPL – black spinning top AMZN – white spinning top/bullish harami BIDU – white spinning top DECK – white spinning top GES – black spinning top JOYG – doji SYNA – bullish engulfing CTSH – bullish harami FLS – black candle in bull flag NFLX – break above 30 DMA heavy volume MHS – bullish engulfing DDS – doji WYNN –hammer JOSB - doji APOL – white candle confirm inverted hammer GS – close just below 30 DMA

1 comment:

Unknown said...

Didn't know what this meant so I googled it. Just thought I would post for those who wanted to know as I did. Thank you Dave for all the education.

What Does Quadruple Witching Mean?
A day on which contracts for stock index futures, stock index options, stock options and single stock futures (SSF) all expire.

Thanks, Michael