BMO – ES +12.75 and NQ +23.00 futures are higher about 20 minutes before the open in pre-market trading and point to a higher open on Monday following a compromise deal on the U.S. debt ceiling…volume is heavy for pre-market with more many stocks quoting up than down…Financial stocks, XLF up 22 cents on just 88,700 volume in pre-market…This is Take the Trade Monday according to your rules...
TLT is down 61 cents and the Euro is up 40 pips in premarket trading…
NDX leaders AAPL, AMZN, BIDU, GOOG, NFLX, PCLN and QCOM are quoting higher in pre-market trading…
Earnings This Week
Monday Aug 1= CTRP, HLF, HUM, SOHU
Tuesday Aug 2 = CTSH, EXPD, HSIC, SIRI, COH, FWLT
Wednesday Aug 3 = ATVI, CMCSA, AGU, ATW, ENTR, ICE, WLT
Thursday Aug 4 = DTV, FSLR, GRMN, PCLN, ANR, CF, SINA
Friday Aug 5 = WCRX, WTW
NDX Setups for Monday: AAPL, AMZN, BIDU, WYNN, BRCM, SNDK, APOL, FLEX
More NDX Setups: ALXN, BBBY, CERN, CHKP, EBAY, ESRX, EXPE, GILD, GMCR, GOOG, ISRG, VRTX
Other Setups for Monday: ZAGG, SINA, ANF, ESI, MOS, MCP, GS, SWKS, TPS, CMG, LVS, NTES, SLB, NKE, CREE, WTW, FOSL, LULU, PRGO, UA, CGA, EZPW, HANS, ULTA, NTRI
Other Setups for Monday: ZAGG, SINA, ANF, ESI, MOS, MCP, GS, SWKS, TPS, CMG, LVS, NTES, SLB, NKE, CREE, WTW, FOSL, LULU, PRGO, UA, CGA, EZPW, HANS, ULTA, NTRI
Dave’s Insight for Monday: In my workshops and elsewhere, over the past few weeks, I have publicly stated that based on my experience a compromise would be reached, that there was NO way that the debt ceiling would NOT be raised and that the political spin was just the drama that gets played out when these major issues occur…True to form after months a deal is reached and after a down week for stocks, a rally is under way this morning…Follow your rules for entries this morning…Trade each chart according to your rules…Watch XLF which is still a key factor as to a sustained bounce and potential break out…
SPX
Resistance: 1,310, 1,321, 1,330
Support: 1,300, 1,288, 1,278
Quoting Down – ISRG, FAZ, SOHU, TLT, TIF, DLTR, CHKP
Quoting Up – CMG, HUM, CF, WLT, CAT, GMCR, CRM, FFIV, VMW, SINA, UNP, HLF, MCP, DE, DECK, INFA, GS, SLB, COH, UCO, V, ANR, ATI, POT, ARUN, CAN, VECO, CLF, LVS, CAM, MOS, RVBD, URE, FCX, SWN, FAS, SNDK, SWKS, PCX, X, CROX, TPX, C, TSL, NTES, CREE, CSTR, STI, FWLT, CIEN, DOW, UAL, ZAGG, CY, GES, JDSU, CRUS, HAS, SMH, F, A, ENTR, KKD, ICE, JNPR, NVDA, BAC, LDK, CDE
1 comment:
Dave, Well said in regard to the debt ceiling being resolved, which I agreed with you at the D.C. conference. However, this resulted in just kicking the can down the road and we are far from being home free of a downgrade of the national credit rating, which is certain to happen. The Dow is down 125 now. I thank you for the SPY trade in D.C., which I made lots of money on. However, on Thursday I bought the SPY Aug $131, and now have a 76% gain. Certainly glad I didn't sell these PUTs this morning. Tom
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