Futures Point to a Flat to Slightly Higher Open...

BMO – ES +1.75 and NQ +0.75 futures are slightly higher in pre-market trading pointing to a flat open. In pre-market trading AAPL is +1.64, AMZN +0.63, GOOG +1.61, BIDU +2.77, INTC is up 11 cents, BAC is up 2 cents and GS +1.63.

Volatility fell to just above 25 on Wednesday. Higher volatility means you should continue to expect bigger and quicker moves both up and down. We continue to watch whether volatility moves below 25, which is the level before the SPX broke support last week.

The best guidance today is to continue to Follow Your Rules.

Look at these Charts

(click image to enlarge)

Bonds are lower and TLT is 5 cents lower in pre-market.

Trading Down: USO
Trading Up: DECK, WFMI, GMCR, X, NFLX, CLF, GS, V, FCX, WLT, URE, LVS, WFC, MHS

The short term and long term trends are up and the intermediate term trend is neutral.

Trade those charts that meet your rules in the direction of the trend.

The Euro is down 42 pips in overnight trading.  Oil is down 62 cents in electronic trading. 

SPY is up 19 cents and XLF is unchanged in pre-market trading. Watch XLF as a key to any sustained move in the SPX.

Follow your rules in any trading actions today.  Be logical.

SPX
Support = 1,155, 1,145, 1,125
Resistance = 1,178, 1,200

At the Open on Thursday
SPY –
QQQQ –
FAS –
TLT -
FLS –
NTRI -
OSTK -
EXBD -
MA -
ILMN –
AKAM –
SNDK –
NFLX –
AAPL –
SHLD –
WHR –
ZION –
DHR –
DECK –
X –
CLF –
BA –
DOW –
BBY –
MA -
V –
PCLN –
CAT –
PCP –
CREE –
AMD –
UAUA –
UNP –
DE –
FCX –
GMCR –