Wednesday, January 6, 2010

Futures Point to a Slightly Lower Open...

BMO – ES -3.00 and NQ -4.00 futures are mixed in pre-market trading pointing to a flat to slightly lower open. AAPL +0.02, AMZN +0.03, GOOG -0.99 and BIDU -2.90 are mixed in pre-market trading. There is still a 1,234 chart target for the end of January, we’ll watch closely to see if the time frame is realistic or will need adjustment. Remember direction and price target are more important than time. The Euro is down 10 pips in overnight trading. Oil is down 30 cents in electronic trading. XLE is down 18 cents in pre-market trading. SPY is down 25 cents in pre-market trading. XLF is down 3 cents in pre-market trading. Continue to watch XLF as a key to sustain the breakout in the SPX. Follow your rules in any trading actions today. Be logical. SPX Support = 1,106 - 1,117 Resistance = 1,125 – 1,133, 1,145 Trading Down: POT, X, RIMM, ICE Trading Up: CREE, CERN, CGA, FLIR, DOW Look at these Charts… (click image to enlarge) At the Open on Wednesday SPY – QQQQ – FAS – X – AAPL – AKAM – AMZN – CREE – KLAC – LRCX – NVDA – RIMM – BUCY – DECK – FLIR – FWLT – ISRG – NFLX – PCLN – STLD – UAUA – ACN – AGU – AMD – CAT – CME – DE – DOW – ICE – MA – PCP – POT – UNP – WHR –

5 comments:

Anonymous said...

Thanks for this morning's commentary, Dave!

I hope you are feeling better-

Have you ever tried takig echinacea? I have had great results with that in the past..

Take care (sending positive and healing energy over your way!)

Laney

Barbara Rubin said...

Dave,
X up 5% today is over and above my level of control. My emotions are soaring as I am enjoying looking at (but not acting on)the profits on paper. Wow, what a day! I can retire for the rest of the year. An endorphin rush for sure. Buying at support and sticking with the trend has a whole new meaning. Thank you for this blessing. 2010 will be my best year ever.

Brian McAllister said...

Dave,

DECK hit my auto sell order at 110 today. Up 380% in 17 days. I paper traded this alongside you. Thanks!!!

Brian

Edith said...

Hi Dave,
Hope you are feeling better... good old chicken soup might help...

Just want to say Thanks!

You have been an inspiration for me, I was loosing my confidence in my trading but since I started to listen to you in August I now am starting to know what I am doing...and guess what ...my trading is also improving !

Take care,
Edith

Larry M said...

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