Thursday, April 28, 2011

Futures Point to a Flat Open...CTXS and BIDU Up...AKAM Down...

It’s amazing when you can actually get four hours of sleep. Have a Great Day!

Dave will be in the ITS Trading Room at the market open and the AT Trading Room at 5 pm MDT…See you there…

BMO – ES -1.50 and NQ -4.00 futures are lower about 60 minutes before the open in pre-market trading and point to a flat to lower open volume is light for pre-market with a similar number of stocks quoting up and down…Financial stocks, XLF is flat in pre-market…

CTXS and BIDU are up and AKAM is down following earnings after the close on Wednesday

Key Earnings this week:
Wednesday – CTXS, AKAM, EBAY, SBUX, FISV, QGEN, ORLY, BA
Thursday – POT, CSTR, CERN, EXPE, FSLR, KLAC, MSFT, NIHD, VRSN, CROX

TLT is up 9 cents and the Euro is up 21 pips in premarket trading

NDX leaders BIDU is higher in pre-market trading… AAPL, AMZN and NFLX are lower after earnings…GOOG, PCLN and QCOM are near unchanged…

Dave’s Insight for Thursday:  Continue to follow your rules…Stay with the trend… Remember horizontal breakouts often pull back to their and test their breakout…Earnings will continue to influence trading this week…Continue to watch XLF for support of the SPX breakout of horizontal resistance…Manage your trades based on the price action you see on the charts

SPX
Resistance: 1,352, 1,367
Support: 1,344, 1,330, 1,321

Quoting Down – AKAM, NFLX, URBN, AAPL, UCO, GMCR, WLT, CAT, ARUN, CMG, UAL, MICC, SBUX, LIFE, FLEX, AMZN, NTAP, VOD, ADP, INFY

Quoting Up – CTXS, BIDU, POT, GES, DOW, AGU, MOS, CLF, VMW, JDSU, CELG, EBAY, XLNX, ILMN, SHLD

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