Futures Point to a Higher Open as Wednesday's Upward Reversal Continues...

BMO – ES +8.50 and NQ +19.25 futures are higher about 90 minutes before the open in pre-market trading and point to a higher open… SPX downward momentum reversed on Wednesday and formed a hammer pattern as the markets consolidated gains of the past week…so far this morning volume is very light and a much larger number of stocks are quoting up and down in pre-market this morning…

TLT is down 34 cents and the Euro is above 1.4036 resistance and up 45 pips in premarket trading…

NDX leaders AAPL, AMZN, BIDU, GOOG, NFLX, PCLN and QCOM are higher...ALL Nasdaq leaders are higher…

Dave’s Insight for Thursday:  Continue to follow your rules.  Be alert for entry signals in the uptrend direction as the SPX is just below the 1,300 resistance area and is poised to breakout above this morning…The INDU and RUT are right at their 30 DMA and the SPX is just below its 30 DMA…many stocks are in a similar technical position…

SPX

Resistance: 1,300, 1,311, 1,321

Support: 1,288, 1,281, 1,271

Quoting Down – ATI, TLT, FSLR, SHLD

Quoting Up – PCLN, AAPL, NFLX, FFIV, GOOG, AMZN, ISRG, WYNN, CRM, VMW, SINA, NTES, UCO, CAT, CMG, GS, SLW, MCP, DE, HLF, RVBD, POT, LVS, CF, SOHU, ICE, X, SNDK, FCX, NYX, WLT, SLB, FAS, DECK, QCOM, CTXS, MU, ROST, TEVA, SNDK, RIMM, ORCL