Futures Point to a Flat Opening...NQ Futures Higher...

BMO – ES -1.50 and NQ +4.50 futures are mixed in pre-market trading pointing to a flat open. AAPL +1.84, AMZN -0.81, GOOG +1.00 and BIDU -9.18 are mixed in pre-market trading. The Euro is down 107 pips in overnight trading creating a short term reversal in the dollar. Oil is down 45 cents in electronic trading. XLE is down 11 cents in pre-market trading. SPY is down 11 cents in pre-market trading. XLF is down 6 cents in pre-market trading. Continue to watch XLF as a key to sustain the breakout in the SPX which it is not doing this morning. There is still a 1,234 chart target for the end of January. Without a strong positive reaction to earnings this week and next we don’t see this target being achieved by the end of January as we stated in Friday’s post. Remember direction and price target are more important than time. Follow your rules in any trading actions today. Be logical. Watch for potential support bounces today. Key earnings today include: C, CREE, CSX, FAST, IBM SPX Support = 1,125 – 1,133, 1,106 - 1,117 Resistance = 1,145, 1,155, 1,170 Trading Down: INFY, AMZN, CAT, TSL Trading Up: X, POT, AAPL, BUCY, AGU Look at these Charts… (click image to enlarge) At the Open on Tuesday SPY – QQQQ – FAS – AA – SHLD – X – AAPL – AKAM – AMZN – CREE – NVDA – RIMM – BUCY – DECK – FWLT – ISRG – PCLN – STLD – UAUA – ACN – AGU – AMD – CAT – DE – DOW – MA – PCP – POT – UNP – WHR –