Just When You Thought...

the market would not bounce and it would only go a lot lower... BMO – ES +7.75 and NQ +11.75 futures are higher in pre-market trading pointing to a higher open. GOOG +4.49, AAPL +2.07 and BIDU +5.14 are higher in pre-market trading. Support bounce or break was the key focus on Wednesday. While there was not much bounce support did hold. If the cash open and Thursday morning trading is anything like the pre-market trading it looks as if we have a support bounce on our hands. The ES is at 1,002 and the NQ is at 1,604. Watch the SPX 1,007 to 1,009 area as the first level of short term resistance. Trade with the trend of the stocks you are trading. Look at these Charts… (click image to enlarge) At the Open on Thursday SPY – QQQQ – WLT – piercing line JOYG – AMX - inverted hammer DOW – AGU – piercing line X – doji DE – FWLT – hammer WHR – spinning top AXP – inverted hammer PCLN – bullish harami, hammer BDK – spinning top BAC – inverted hammer FAS – inverted hammer ZION – hammer AAPL – inverted hammer PCP – hammer FUQI – hammer PWRD – piercing line FCX – piercining line CAM – MHS – bullish engulfing JOSB - doji

TGT – hammer ARO – spinning top ANF – bullish harami GES –