Wednesday, June 10, 2009

Futures Pointing to a Higher Opening...

BMO - ES + 11 and NQ +12 are higher in pre-market trading pointing to a higher opening. This is exactly where the market was last Friday morning pushing through the 950 horizontal resistance. If you remember the market sold off after the open and finished near support. We will obviously be watching this morning's trading will great interest to see if Wednesday will be another "fade the gap" day like last Friday or if we have are successful breakout on our hands... ES is at 951...NQ is at 1,513...SPY +0.94 at 95.58 in pre-market trading... Look at these charts... (click image to enlarge) At the Open on Wednesday SPY – doji at resistance KOL – white spinning top +2.86% USD – white candle +8.26% FAS – doji +1.92% JOYG – shooting star +2.99% BIDU – white spinning top +1.73% ADBE – white spinning top +2.06% X – horizontal breakout +7.87% ISRG – white candle above 200 DMA +2.80% FWLT – white spinning top +2.95% SHLD – black spinning top UNG – doji NTAP – white candle bull flag support bounce +2.74% ZION – white spinning top +2.30% CTV – bull flag support bounce confirm hammer +4.65% AAPL – hanging man RIMM doji at horizontal resistance VPRT – large white candle support bounce breakout +6.76% DECK – large white candle resistance breakout +4.68% MICC – black spinning top at 20 DMA GES – spinning top at horizontal resistance TRLG – spinning top at horizontal breakout +1.44% DDS – bull flag bounce confirm hammer SCHN – large white candle horizontal breakout MRVL – bull flag bounce horizontal breakout

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