Friday, May 27, 2011

Futures Point to a Higher Open...

Dave will be in the Weekly Wrap at 4:40 pm EDT...See you there...Have a Great and Safe Memorial Day weekend...


BMO – ES +1.75 and NQ +3.00 futures are higher about 20 minutes before the open in pre-market trading and point to a higher open on Friday… volume is light for pre-market with more stocks quoting down than up…Financial stocks, XLF is quoting up 6 cents on 147,400 volume in pre-market…

MHS -7.31 is Gapping Down this morning…

MRVL +1.47 is Gapping Up this morning following earnings…

TLT is down 44 cents and the Dollar is higher while the Euro is up 106 pips in premarket trading…

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

Dave’s Insight for Friday:  The SPX support bounce is continuing in pre-market trading and suggests a support bounce continuation today… …remember the Memorial Day weekend… the market is closed Monday, plan accordingly…Continue to follow your rules…Watch XLF as a key factor whether the support bounce continues…XLF is up in pre-market on moderate plus volume...Manage your trades based on the price action you see on the chart you are trading

SPX
Resistance: 1,330, 1,344, 1,352
Support: 1,321, 1,310, 1,300

Quoting DownMHS, NTES, SWK, TLT, FAZ, HAS, CERN, CELG, CHKP, INFY, WYNN, CHRW, SRCL, HSIC, VRTX, XRAY

Quoting UpCMG, WLT, MCP, FCX, VMW, CLF, HLF, CRUS, SINA, HUM, CAT, ANR, DE, ZAGG, CDE, CRM, UCO, SLW, POT, MOS, PCX, X, CREE, TBT, LDK, MICC, MRVL, ESRX, VMED, FSLR, NFLX, BRCM, GOOG, WFM, COST, AAPL, AMZN, JOYG, CTXS, BIDU, VOD, AKAM

No comments: