Tuesday, December 1, 2009

Futures on the Rise Pointing to a Higher Open...

BMO – ES +8.75 and NQ +15.75 futures are lower in pre-market trading pointing to a slightly lower open. AAPL +1.62, AMZN +1.09, GOOG +5.00 and BIDU +2.26 are lower in pre-market trading. The Euro is up 60 pips in overnight trading and oil is quoting up 85 cents in electronic trading. XLE is up 38 cents in pre-market trading. The SPX is making another move towards horizontal resistance, expect sellers around 1,110 but be prepared if buyers over power sellers after three and a half weeks of sideways price action. Financials, FAS, are up again in pre-market trading. If this sector is on the move again as it was in July and August , it increases the probability that the SPX can break through resistance. Follow your trading rules today. Be logical. SPX Support = 1,087…1,082…1,075 Resistance = 1,100 - 1,1061,113 Trading Down: Trading Up: SPY, IWM, XLE, AMZN, FCX, X, DE, EBAY, URE Look at these Charts… (click image to enlarge) At the Open on Tuesday SPY – QQQQ – XLE – FAS – AMLN – ILMN – CREE – DE – STLD – FLIR – FCX – PCP – EXPE – X – NIHD – CSX – UNP – WLT – POT – STX – AAPL – AMZN – PCLN – BUCY – JOYG – DECK – NFLX – ISRG – AKAM – V – NKE – CAT – SWK – ACN – PNC – DD – DIS – UTX –

3 comments:

Anonymous said...

Good morning, Dave.

Thank you for your commentary on the market this morning!

Your Chart Signals is part of my daily, morning routine.

Laney

Anonymous said...

Hi Dave,

IWM is working out well for me.

Are you moving the market again? just kidding....

Have a great day : )

Denise

Anonymous said...

Man Dave you called this right today on SPX! everytime it got near 1110, the sellers came in!!
Buyers and sellers battled close to a draw!
Bruce H