Thursday, January 28, 2010

Futures Point SPX Higher Open...NDX Flat...

BMO – ES +3.25 and NQ -2.00 futures are mixed in pre-market trading pointing to a flat open. AAPL -1.43, AMZN +1.95, GOOG +2.43 and BIDU +3.03 are higher in pre-market trading. Thursday’s Earnings to Watch: MMM, AMZN, BDX, CA, CELG, CHKP, DHR, GR, JBHT, KLAC, LIFE, LUV, LMT, MSFT, MXIM, POT, PG, RTN SNDK, TROW, LCC, VPRT BMO MMM +1.50, +1.82% PG +1.19, +1.96% POT -5.40, -4.93% The Euro is down 36 pips in overnight trading. Oil is up 45 cents in electronic trading. XLE is up 26 cents in pre-market trading. SPY is up 41 cents in pre-market trading. XLF is up 12 cents in pre-market trading. Continue to watch XLF as a key to a support bounce rally in the SPX as it is doing this morning. Follow your rules in any trading actions today. Be logical. The SPX did confirm Monday’s bullish harami and Tuesday’s inverted hammer on Wednesday. We will be looking for support bounce follow through today. If support breaks look for price to fall to the next support level. SPX Support = 1,087, 1,175 Resistance = 1,103, 1,115 Trading Down: POT, AAPL Trading Up: AMZN, XLF, STT, ZION, GMCR, DE, X, BUCY Look at these Charts… (click image to enlarge) At the Open on Thursday SPY – QQQQ – FAS – BA – ALTR – GMCR – ALGT – SHLD – CREE – STX – ZION – STT – NTRS – DECK – ISRG – BAC – INFY – X – AAPL – AKAM – AMZN – NVDA – SNDK – BUCY – PCLN – UAUA – ACN – AGU – DE – DOW – DHR – MA – PCP – POT –

1 comment:

Judy said...

Gooooood Morning Dave! Just wanted you to know that I took to heart your thoughts from yesterday's Trading Rooms. Last night I was up studying my watch lists and reading your posts and I set in place 20 trades (combo real and paper) to follow my rules and not be emotional. What fun... Some I am in and some are just waiting. Thanks for the encouragement to become better traders. YOU are a Great Trader! Judy