BMO – ES -3.25 and NQ -12.50 futures are lower about 20 minutes before the open in pre-market trading and point to a lower open… volume is moderate for pre-market and similar number of stocks are quoting up and down in pre-market trading…it looks as beginning of the quarter buying is beginning to wane as prices of the broad indexes have neared resistance…selectivity will likely rule going into earnings season starting next Monday…with AAPL down the NDX will likely struggle again on Tuesday…
Semiconductor stocks are higher following the TXN buyout of NSM at $25 per share…
TLT is flat and the Euro is above the 1.4036 support area and down 58 pips in premarket trading…
NDX leaders AAPL, AMZN, GOOG and PCLN are lower in pre-market trading...…BIDU, NFLX and QCOM are flat…
Dave’s Insight for Tuesday: Continue to follow your rules…Stay with the trend… The short term trend is still up…with the SPX near the resistance of its yearly high look for any signs of slowing momentum and the potential of a short term reversal…be prepared for either a potential pullback or breakout…
SPX
Resistance: 1,330, 1,344
Support: 1,321, 1,311, 1,300
Quoting Down – AAPL, GOOG, ISRG,PCLN, MICC, CMG, MCP, CRM, CLF, HUM, SINA, CAT, VECO, FCX, ARUN, VMW, LVS, IL, UNP, WLT, CF, WDC, X, SLB, NYX, AMZN, WYNN, FFIV, BBBY, NFLX, INFY
Quoting Up – CEPH, EXPE, CSTR, SNDK, CIEN, SMH, CRUS, MOS, NVDA, DHR, KLAC, PCAR, ALTR, BRCM, MCHP, LLTC, AMGN, DTV, MSFT, APOL, ORCL, MRVL, NTAP, XLNX, NVDA
1 comment:
Dear Dave,
Thank you for being my teacher. I learn from you every single class. When I look at a chart your words resonate in my brain - "the trend is....., support and resistance....."
I read your posts and attend your classes religiously when I have internet access (when I am in the country).
Sincerely
Paula
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