Wednesday, June 15, 2011

Futures Point to a Lower Open over Greece Concerns...

BMO – ES -12.00 and NQ -20.00 futures are lower about 40 minutes before the open in pre-market trading and point to a lower open on Wednesday…concerns over Greek debt, a 24 hour general strike and global economic concerns are being cited for the pre-market softness…volume is light for pre-market with more stocks quoting down than up…Financial stocks, XLF is quoting down 11 cents on 16,400 volume in pre-market…

It’s time to change from the June M contracts on the ES and NQ to the U September futures contracts…

TLT is up 23 cents and the Euro is down 155 pips in premarket trading …

Bounces Moved Higher on Tuesday: ICE, HUM, AGU, TPX, ATI, A, DHR, FCX, SLB, ESI, IAG, POT

Support Bounce Entry on Tuesday: ANF, SPY, ACN, ENTR, FWLT

Bull Flag Entry on Tuesday: UNP, VMW, TIF, CROX, GES, HLF, GMCR, KKD, MA, CMG

Support Bounce Setups for Wednesday: NVDA, ATW, RVBD, ARUN, CY


Bull Flag Setups for Wednesday: CHL, NFLX, INFA, CRM, WTW, MRVL, CF, COH


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

Dave’s Insight for Wednesday: Watch the pullback this morning, which is not uncommon after a strong up day, as long as price stays above support we will expect the bounce to resume…Continue to follow your rules and take trades accordingly…Watch XLF as a key factor whether the bounce continues after a test of support

SPX
Resistance: 1,288, 1,300, 1,310
Support: 1,278, 1,267, 1,257

Quoting DownTIF, CMG, WLT, CRM, SINA, SLB, CF, VMW, CLF, CAT, SOHU, UCO, GMCR, POT, DE, URE, X, CROX, ANR, FAS, V. FCX, MOS, SLW, SWN, SNDK, SWKS, GES, DECK, LVS, PCX, DHR, TSL, PCLN, GOOG, AAPL, ISRG, BIDU, AMZN, JOYG, NFLX, FSLR, GMCR, QOCM, TEVA

Quoting UpFAZ, HUM, MCP, ARUN, ACN, BMC, ALXN, WYNN, ESRX, NTAP

1 comment:

Anonymous said...

Half-way thru today and a strong down day so far for the SPX...but I am noting a Bull Divergence in the MACD!
BH