Wednesday, May 19, 2010

Futures Point to a Lower Open...

BMO – ES -4.75 and NQ -6.00 futures are lower in pre-market trading pointing to a lowher open. In pre-market trading AAPL is -1.84, AMZN -0.11, GOOG -0.87, BIDU -0.38, INTC is up 6 cents, BAC is down 10 cents and GS +0.51.

More stocks are lower this morning in pre-market trading on light volume being led lower by Financials XLF and Industirals XLI.

After opening higher on Tuesday the SPX reversed in a move back towards Monday's low of 1,114.  Tuesday's low was 1,117

Volatility remains over 30 as sellers continued to be aggressive on Tuesday.
Continue to Follow Your Rules.

Bonds are flat and TLT unchanged in pre-market trading.

Trading Down: BA, DECK, CRM, SPG, FCX, BUCY, CLF, UNP, ICE, UYG, WFC, URE, ZION, POT, PNC, FAS, X, SNDK, GMCR, FLS, CREE, STI

Trading Up: DE, MA, GS, V, SWN, WCG, WLT, FAZ

The short term trend is down, the intermediate term trend is neutral and long term trend is up.

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

The Euro is up 110 pips in overnight trading.

SPY is down 50 cents and XLF is down 12 cents 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 = 1,110, 1094
Resistance = 1,125, 1,145, 1,155, 1,178

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

No comments: