Futures Point to a Lower Open Following Weak Euro as Debt Fears Rekindle...

1:35 pm EDT - intra-day reversal pattern on Euro...


BMO – ES -37.00 and NQ -58.50 futures are lower about 25 minutes before the open in pre-market trading and point to a lower open…volume is moderate for pre-market with more stocks quoting down than up…Financial stocks, XLF is down 57 cents on 604,400 shares in pre-market at this time…

Two day FOMC meeting this week…

TLT is up 3.19 and the Euro is down 243 pips in overnight trading …

NDX leaders AAPL, AMZN, BIDU, GOOG, PCLN and QCOM are quoting lower…

Dave’s Insight for Tuesday:  lower Euro in overnight trading is dragging futures lower…leading to stronger bonds…Financials down…setting up a lower open …continued selling is occurring on the weaker Euro…Protect your profits and move stops according to your rules…Bearish trades?  With a break below the low of the high day take them according to your rules...

Watch XLF and breadth as key factors in any SPX move…Watch to see when U.S. traders use the pull back as a buying opportunity at some support level, otherwise stay with the short-term down trend

SPX

Resistance: 1,230, 1,249, 1,260

Support: 1,216, 1,205, 1,177

Quoting Down – CMG, CF, GS, DECK, SINA, CRM, SOHU, CAT, WLT, FFIV, CLF, LNKD, HLF, SLB, VMW, NKE, IBM, ICE, DE, GMCR, UNP, V, ATI, HUM, MOS, UCO, FCX, C, ANF, POT, TIF, MCP, HAL, TPX, RCL, X, SLW, URE, FAS, ANR, LVS, CDE, A, DOW, SWN, DHR, RVBD, SNDK, CSTR, TBT, DLR, STI, SWKS, JNPR, PCX, WDC, CRUS, PCLN, GOOG, AAPL, BIDU, AMZN, HSIC, FFIV, WYNN, JOYG, GMCR, JOYG, FSLR, VRTX, NFLX, CTXS, COST, CTSH, QCOM, CTRP, TEVA, KLAC, ILMN, BBBY, CERN, ADP, SBUX, ROS, WFM, ADBE, VMWED, NTAP, AKAM, ERTS

Quoting Up – FAZ, TLT, CHL