Wednesday, August 12, 2009

Futures Flat Before Open...FOMC Announcemnet Today...

BMO – ES +0.25 and NQ +0.25 futures are slightly lower in pre-market pointing to a flat to slightly lower open. The NQ was leading the ES this morning and the futures have flipped from slightly negative to positive over the past 20 minutes...There is a mixture of stocks quoting up or just slightly lower in pre-market this morning…FOMC announcement today at 2:15 pm ET…look for modest trading this morning and then movement up or down from support after the markets digest and create their interpretation of the new information that comes from the Fed …watch the short term support level at the 992 to 996 area…next support 980...I like the flag patterns on STT and SPG in addition to the ones I mentioned last night…BIDU, FLS, LAMR higher in pre-market...Let's trade with the trend of the chart and have a great day... Look at these Charts… (click image to enlarge) At the Open on Wednesday SPY – QQQQ – ADBE – AAPL – EBAY – FUQI – PWRD – BIDU – GMCR – BDK – FAS – BAC – ZION – STT – SPG – URE – JOYG – X – GES – NFLX – FSLR – FLS – FWLT – LAMR – AFAM – SNDA – HANS –

1 comment:

Anonymous said...

Thanks Dave. I am trading with the trend!
You have a great day, too-
Laney