Monday, February 6, 2012

Futures Point to a Lower Open...Euro Lower...

BMO – ES -3.75 and NQ -6.25 futures are lower 15 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 5 cents on 184,900 shares in pre-market at this time…FAS is down $1.21

TLT is up 35 cents and the Euro is down 82 pips overnight trading …

SOHU and HUM gap lower after earnings…SINA gap down…CSTR (reports after the close) to Gap Up on VZ streaming deal…Move over NFLX?

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

Dave’s Insight for Monday:  Lower Euro…higher bonds… Financials down… is setting up a lower open following a lower Euro as Greece politicians struggle with latest austerity measures, threat of default again… Follow YOUR rules for entry, exits and stops...TRADE THE TREND…

Watch for bounce continuation and follow your rules for stop adjustment or exit…the intermediate term trend is still up

Chart Signals will be watching the Euro, XLF and the VIX...the VIX continues to indicate stable trend…


SPX
Resistance: 1,331, 1,347, 1,356
Support: 1,315, 1,300, 1,292

Quoting DownSOHU, SINA, HUM, CF, CMG, FAS, IBM, GS, FFIV, URE, UNP, VMW, UCO, CAT, SLB, DOW, WLT, SLW, DE, CRM, FCX, LVS, RCL, DECK, C, X, A, POT, MCP, HAL, PCLN, BIDU, NFLX, AAPL, GOOG, AMZN, BIIB, FFIV, AMGN, WYNN, ALZN, GMCR, ALTR, SBUX, QOCM, COST, TEVA, MU

Quoting UpCSTR, FAZ, TLT, RVBD, GOLD, PNRA, CTRP, FOSL, CELG


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