Friday, December 2, 2011

Futures Point to a Higher Open Following Jobs Report and 8.6% Unemployment...


BMO – ES +12.00 and NQ +21.00 futures are higher 30 minutes before the open in pre-market trading and point to a higher open…volume is moderate for pre-market with a more stocks quoting down than up…Financial stocks, XLF is up 17 cents on 225,700 shares in pre-market at this time…

Unemployment rate drops to 8.6%, a two and a half year low as non-farm payrolls increase 120,000 and September and October revised upward by 72,000 jobs…signs that the economic recovery is improving…

TLT is down 33 cents and the Euro is up 42 pips in overnight trading…

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

Dave’s Insight for Friday:  higher Euro…lower bonds… Financials up…setting up a higher open …After Thursday’s pause in SPX, INDU and RUT stocks are moving higher…expect this support bounce to continue…and Yes, Charts don’t lie so based on what is more likely we still expect the 1,363 chart target to be achieved by year end…Follow YOUR rules for entry, exits and stops...TRADE THE TREND…

Chart Signals will be watching XLF, TNX and VIX today as key factors in any SPX move…

SPX
Resistance: 1,249, 1,260, 1,273
Support: 1,230, 1,216, 1,205

Quoting DownFAZ, TLT, CMG, GES, INFY, NFLX, RIMM, STX

Quoting UpPCLN, GOOG, SINA, WDC, FAS, CF, WLT, NTES, GS, DECK, CLF, VMW, CRM, SOHU, CAT, SLB, LNKD, FFIV, MOS, SLW, C, MCP, TIF, DE, ATI, SNDK, V, FCX, UCO, RCL, IBM, POT, LVS, X, UCO, ANR, NKE, RVBD, PCX, UAL, VECO, JDSU, SWKS, TSLA, ZAGG, CROX, JNPR, BIDU, AAPL, WYNN, DLTR, ROST, AMZN, JOYG, TEVA, CMCSA, AMZN, BIIB, COST, GMCR, FFIV, ESRX, SNDK, FLSR, MRVL, KLAC, AMGN, QCOM, ORCL, CELG, ERTS, AKAM, SBUX, BRCM, SHLD, PAYX, MSFT

2 comments:

Peggy said...

Dave,
Can you go over again how you calculated the price target of 1363? Was that the measured move of a
price pattern you saw? I continue to appreciate all the
years of dedication you've contributed to this blog. Your talent as a market technician is admired and respected by many.
Thanks for all you do,
Peggy

PENNY STOCK INVESTMENTS said...

Great moves