1:50 pm EDT - The Euro found support just above its 62% Fib level off the Oct 17 low...the SPX is holding support at Thursday's S1 level...SPX moved only about 6 points lower than its open...AAPL is up...AMZN, BIDU, GOOG, PCLN and QCOM down...
BMO – ES -15.25 and NQ -23.00 futures are lower about 30 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 down 29 cents on 565,100 shares in pre-market at this time…
BMO – ES -15.25 and NQ -23.00 futures are lower about 30 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 down 29 cents on 565,100 shares in pre-market at this time…
Depending on today’s performance the INDU is positioned for its best monthly point gain and best monthly percentage gain since January 1987 with the SPX looking at its second best monthly gain ever, second only to October 1974.
Two day FOMC meeting this week…
TLT is up 2.26 and the Euro is down 141 pips in overnight trading …
NDX leaders AAPL, AMZN, BIDU, GOOG, PCLN and QCOM are quoting lower…
Dave’s Insight for Monday: lower Euro in overnight trading is dragging futures lower…leading to stronger bonds…Financials down…setting up a lower open …watch to see if U.S. traders follow the open down or use support as a entry opportunity…1,260 is Thursday’s S1 level and the first area of short-term support…Protect your profits and move stops according to your rules…Bearish trades? Only if it is according to your rules…
SPX chart indicates a move to 1,363 in 8 to 10 weeks…Follow your entry signals and take trades according to your rules…Watch XLF and breadth as key factors in any SPX move… Trade Gaps that meet your rules as earnings season continues this week…
SPX
Resistance: 1,273, 1,300
Support: 1,260, 1,249, 1,230
Quoting Down – SOHU, CF, CRM, WLT, CMG, SINA, CLF, LNKD, GS, CAT, GMCR, FFIV, DE, DECK, IBM, SNDK, SLB, FCX, V, POT, X, UCO, HAL, LVS, ANR, FAS, C, TBT, CREE, RCL, SLW, MCP, DOW, RVBD, CDE, CSTR, SLW, TIF, A, PCX, COH, SWK, TSL, NVDA, MOS, AKS, PCLN, GOOG, BIDU, AAPL, AMZN, APOL, FSLR, GMCR, JOYG, FFIV, VRTS, HSIC, SNDK, NFLX, BMC, TEVA, ROST, CTSH, GILD, WFM
Quoting Up – TLT, FAZ, HUM, INFA
4 comments:
Dave:
Thank you.
Robert
CANI_212
Thank you for up to date excellent analysis!
Gary A
After reading your intraday comment about the Euro finding support, I chose to stretch my Fib from the low of 10/3 to the high of 10/26 on EUR/USD chart and today had a nearly exact 38.2% retracement.
Wonderful post, really great tips and advice. I was interested by your comment,
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