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

BMO – ES +4.00 and NQ +6.00 futures are slightly higher in pre-market trading pointing to a slightly higher open. In pre-market trading AAPL is +1.21, GOOG +0.74, BIDU +0.99.

Bonds are flat and TLT is down 4 cents in pre-market trading.

The Euro is up 22 pips in overnight trading and has fallen to new lows.

SPY is is up 26 cents and XLF is up 8 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.

Stocks are slightly higher on light volume early in pre-market trading.

You should follow your rules this morning and sell when you are supposed to sell and buy when you are supposed to buy. Even though indexes were lower on Monday, breadth was stronger, perhaps suggesting once a test of the May low is complete that the market could bounce. The weak Euro continues to correlate with lower stock prices.

The market is at a key support level or pivot point and traders must be prepared for a break of that support even though the technical oscillators are indicating that a bounce is more likely.

Continue to look to leading stocks like AAPL, AKAM, BIDU, NFLX , SNDK, VMW and CMG and stronger stocks like CRM, HAS, HLF, ICE, LVS, OSTK, SWN, UAUA, UNG and WFMI as to whether they stay above recent support or not.

Continue to Follow Your Rules.
Trading Down: FAZ
Trading Up: FCX, CAT, USO, FAS, GS, DOW, BAC

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.

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

SPX
Support = 1,044, 1,030
Resistance = 1,060, 1,071

At the Open on Tuesday
SPY
QQQQ
FAS
TLT
AKAM
GOOG
UNG
HSY
SNDK
NFLX
ILMN
DTV
AAPL
ORLY
AAP
SWN
CRM
UAUA
CAL
ALK
DECK
LVS
ICE
VMW
CMG
BIDU
AKS
X -
PCLN -
CLF –
DOW –
BBY –
MA -
V –
CAT –
PCP –
UNP –
FCX –
GMCR –