Futures Point to a Higher Open on Expiration Friday...

BMO – ES +1.00 and NQ +3.50 futures are higher about 20 minutes before the open in pre-market trading and point to a flat to higher open…

TLT is down 30 cents and the Euro is up 18 pips in premarket trading reversing and is still above old horizontal resistance, now new support in the 1.3450 area…

ARUN gaps up following earnings…

NDX leaders AAPL, AMZN, BIDU, GOOG, NFLX and PCLN are higher in pre-market trading…

Dave’s Insight for Friday: Follow your rules.  Trade with the trend but be prepared for a pull back when it occurs.  Keep in mind that today is the last trading day heading into a three day weekend.  Options expiration is today.  Today is the end of week 7.  After the close evaluate your performance in relation to your 2011 goal. 

On Monday the markets are closed for Washington’s Birthday commonly referred to as President’s Day.

SPX

Resistance: 1,338, 1,345, 1,352

Support: 1,330, 1,321, 1,311

Quoting Down – VECO, JDSU, MA, A, WLT, TLT, CIEN, GRMN, XRAY, BMC, INFY, MAT, DTV, ORLY

Quoting Up – ARUN, FSLR, NFLX, AAPL, DECK, POT, CLF, CMG, CREE, GMCR, HLF, CRM, ICE, TSL, LDK, MCP, MHS, SLW, CSTR, DE, PCP, JNPR, SOHU, SWN, WHR, NTES, BA, TBT, UAL, INTU, FFIV, JOYG, PCLN, ESRX, GOOG, WYNN, ISRG, AMZN, RIMM, BIDU, VOD, BRCM, MICC