Futures Pointing to a Higher Open...

BMO – ES +4 and NQ +5 futures are higher in pre-market trading pointing to a higher open. August options expire tomorrow. GOOG +9 is up strong, AAPL +56 cents and BIDU +2 are also higher in pre-market trading. There were a large number of bullish engulfing patterns in our watch list last night and several are listed in our At the Open on Thursday list. Futures are pointing to a break above SPX 1,000 this morning which is significant because 998 was Monday’s open and R2 level. If this happens when the cash market opens look to 1,007 as resistance. We’ll watch for a potential break above that level. 980 is still support for the week. The trend is still up and the SPX has been trading between 1,000 and 980 so far this week. Look at these Charts… (click image to enlarge) At the Open on Thursday SPY – QQQQ – JOYG – bullish engulfing FCX - bullish engulfing DOW - bullish engulfing PCLN - bullish engulfing FAS - bullish engulfing ZION - bullish engulfing AGU - bullish engulfing DD - bullish engulfing AMZN - bullish engulfing AKAM - bullish engulfing AMX - bullish engulfing BIDU - bullish engulfing FWLT - bullish engulfing CAT - bullish engulfing SHLD – hammer GOOG – ADBE – AAPL – ACN – X – FUQI – PWRD – BDK – BAC – BRCM – VPRT – CAM – MHS – NFLX – DE – TGT –