BMO – ES -1.00 and NQ -0.50 futures are flat about 20 minutes before the open in pre-market trading and point to a flat open…volume is light for pre-market with a similar number of stocks quoting up and down…Financial stocks, XLF is down 5 cents on 68,200 shares in pre-market at this time…
TLT is down -10 cents and the Euro is down 90 pips in overnight trading…
NDX leaders AAPL, AMZN, GOOG and PCLN are quoting higher…BIDU, NFLX and QCOM are slightly lower in pre-market trading.
RIMM is gapping down following earnings after the close on Thursday…
Today is Expiration Friday for September options and futures…
Dave’s Insight for Friday: Expiration Friday is often a trading range day without strong trend direction by the end of the day…the SPX is near horizontal resistance…remember to trade for your target and move your stop according to your rules…take additional entries that break out of horizontal resistance according to your rules…Continue to trade with the short term bounce as it follows through…Watch XLF as a key factor in any SPX move up or down…
SPX
Resistance: 1,225, 1,235, 1,249
Support: 1,200, 1,177, 1,160
Quoting Down –RIMM, JOYG, PCX, CHL, ARUN, COH, FFIV, DECK, CMG, CSTR, UCO, VECO, GMCR, SWKS, VMW, FSLR, ISRG, NFLX, ADBE, EXPD, CTXS, VOD
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