Monday, August 30, 2010

Futures Point to a Slightly Lower Open...

ES -2.00 and NQ -4.00 in pre-market trading point to a slightly lower open...TLT is up 78 cents and the EURO is down 55 pips.  There are more stocks down than up in light volume before the open.

Trading Down - POT, CRM, NFLX, GS, CHL, MCD, GR, MOS, USO,WLT, DE, TSL, VMW, ACN, X, BUCY, AMZN, AAPL, QCOM, TEVA, ERTS, AKAM

Trading Up - SNDK, SPG, CREE, UAUA, FDX, MHS, VECO, GENZ, GOOG, CTSH, STLD, INTU, WCRX, RIMM, STX

Look for the support bounce and continuation moves for entry on Monday and any breakout setups as they occur.  Use the early pull back as a potential second entry on Friday's support bounce entry. 

As always follow your rules.

Support Bounce Entry Signal on Friday - HANS, HLF, PCLN, RVBD, AGU, MCD, POT, CLF, FFIV, LVS, VMW, CMG, NTES, AKAM, NTAP, BIDU, MRVL, INTU, CAM, MOS


Support Bounce Setups for Monday - GMCR, NFLX, CRM, QCOM, CSTR, LXK

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