Tuesday, May 3, 2011

Futures Point to a Lower Open...HLF, ISRG, XRAY Look to Gap Up...

Dave will be teaching an AT Workshop in Newark, NJ today and Wednesday…See you there…

BMO – ES -6.25 and NQ -8.50 futures are lower about 90 minutes before the open in pre-market trading and point to a lower open… volume is light for pre-market with more stocks quoting down than up…Financial stocks, XLF is quoting up 4 cents on 0 volume in pre-market…

Key Earnings this week:
Monday – ADP
Tuesday – CEPH, CMCSA, FSLR, MYL, HSIC, VRTX
Wednesday – ERTS, EXPD, GRMN, NWSA, BMC, WFMI
Thursday – DTV, PCLN, MCHP
Friday – WCRX

 
TLT is up 6 cents and the Euro is down 50 pips in premarket trading…

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

Dave’s Insight for Tuesday: Continue to follow your rules…Stay with the trend…The trend in still up, although a pullback or correction may occur… Remember horizontal breakouts often pull back to their and test their breakout…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: 1,367, 1,384
Support: 1,352, 1,344, 1,330

Quoting DownSHLD, CTSH, GOOG, BIDU, CAT, UCO, DE, NETL, CF, SOHU, SLW, JNPR, SLB, GS, CRM, FAS, FCX, DECK, AGU, CHL, NVDA, AMZN, AAPL, NFLX, VOD, RIMM, FSLR

Quoting UpHLF, ISRG, XRAY, MCP, A, FAZ, CRUS, CMG, VECO, GMCR, SINA, PCLN, WYNN, AMGN, MICC, MYL, GILD, NIHD

1 comment:

Anonymous said...

Dave,

Thank you for taking time to post, even when you are at a Workshop!

Kathy :)