Futures Point to a Lower Open...

BMO – ES -2.50 and NQ -8.50 futures are lower about 15 minutes before the open in pre-market trading and point to a lower open… volume is moderate for pre-market with a more stocks quoting down than up…Financial stocks, XLF is quoting down 5 cents on 83,600 volume in pre-market…

TLT is down 7 cents and the Euro is up 9 pips in premarket trading…

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

Dave’s Insight for Thursday: Wednesday momentum turned down and created a short term lower higher…as long as support holds this consolidation evolves from a simple flag to a triangle or channel type consolidation…Wednesday was a break of the low of the high day and an exit for some short term traders…Continue to follow your rules…Stay with the trend… Continue to watch XLF for support of the SPX bounce…Manage your trades based on the price action you see on the charts…

SPX
Resistance: 1,344, 1,352, 1,367
Support: 1,330, 1321

Quoting Down – UCO, ATW, CMG, SLW, SOHU, URE, GS, NTES, WLT, CAT, SWKS, MOS, FWLT, GMCR, CF, VLO, CRM, NYX, LVS, CDE, FAS, POT, RVBD, X, SLB

Quoting Up – SINA, ATI, CSTR, FAZ, UAL, HUM, IL