Futures Point to a Lower Open Following Lower Asian and European Markets...

2:50 pm ET - Be aware of stocks that may be reporting after the close or before the open tomorrow...

Reporting earnings after the close Monday: BIDU, NFLX, BRCM, TXN

Reporting BMO Tuesday morning: AKS, BIIB, F, LMT, PCAR, RF, SIAL, UA, X

Reporting after the close Tuesday:  AMLN, AMZN, CHRW, FISV, GILD, ILMN, JNPR, LLTC, LVS, PNRA, TPX, USNA

SPX Thursday S1 and S2 are holding as stocks bounce after the open...


BMO – ES -12.00 and NQ -17.75 futures are lower about 20 minutes before the open in pre-market trading and point to a lower open on Monday…volume is light for pre-market with more stocks quoting down than up…Financial stocks, XLF down 17 cents on 18,900 volume in pre-market…

TLT is down $1.19 and the Euro is down 26 pips in premarket trading…TBT is up 77 cents...

NDX leaders AAPL, AMZN, BIDU, GOOG, PCLN and QCOM are quoting lower while NFLX is higher in pre-market trading…NFLX reports earnings after the close today…

Dave’s Insight for Monday:  S&P futures are negative following lower Asian and European markets…the sell off is being attributed to concerns over whether the U.S. government will raise the debt ceiling in time to avoid a default on Aug. 2…Watch Thursday’s S2 key short term support, as S1 is likely to be penetrated on the open…Earnings are continuing this week…Follow your rules for entries and exits…Trade each chart according to your rules…Watch XLF as a key factor for the SPX to reverse its pull back…

SPX

Resistance: 1,344, 1,359, 1,370

Support: 1,330, 1,321, 1310

Quoting Down – ISRG, PCLN, GOOG, CERN, AAPL, WYNN, WLT, CMG, GMCR, VMW, ESI, URE, SINA, CRM, SLB, WTW, TLT, HLF, FFIV, CLF, UCO, GS, DE, MOS, CAT, MHS, POT, SOHU, NETL, DECK, ARUN, ATI, CAM, FAS, TPX, UNP, ACN, V, HUM, CSTR, ANF, X, PCX, FCX, RVBD, SNDK, CY, AGU, ANR,DHR, CREE, A LVS, JNPR, SWKS, ENTR, NDAQ, INFA, CRUS, ZAGG, CTSH, JOYG, AMZN, FSLR, FFIV, ADSK, QCOM, VIDU, GRMN, CTXS, APOL, CHRW, VRSN, RIMM, AKAM, LIFE

Quoting Up – NFLX, FAZ, TBT, SLW, CDE, TIF, SIAL, SRCL, INFY