Tuesday, February 28, 2012

Futures Point to a Slightly Higher Open...PCLN Gap Up 41...

BMO – ES +0.75 and NQ +3.50 futures are higher 20 minutes before the open in pre-market trading and point to a slightly higher open… volume is light for pre-market with more stocks quoting up than down…

XLF is up 2 cents on 117,600 shares in pre-market at this time…
FAS is up 11 cents
TLT is up 33 cents
the Euro is up 48 pips overnight trading and is forming a live dark cloud cover pattern …

PCLN +41.70, +7.08% is gapping up after better than expected EPS and revenues…

NDX leaders AAPL, AMZN, BIDU, GOOG, PCLN and QCOM are higher…NFLX is DOWN…

Dave’s Insight for Tuesday:  higher Euro…higher bonds… Financials up…setting up a slightly higher open…Follow YOUR rules for entry, exits and stops...TRADE THE TREND…With extended profits be sure to adjust your stops…

The SPX, NDX and COMPQ hit a New High Close and the pre-market action looks like the SPX will continue its up trend…During the past 10 weeks the SPX has not had a correction of more than 33 points, a very stable trend during this low volatility period…

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: 1,370, 1,375, 1,388
Support: 1,361, 1,353, 1,347

Quoting DownAPOL, SWN, ESI, CRM, HLF, COH, CMG, TPX, DLR, SWI, CAT, GRMN, FOSL, PNRA, NFLX, ADBE, SHLD, TEVA, DLTR

Quoting UpPCLN, SINA, ZAGG, WLT, SLW, FFIV, TLT, CDE, LNKD, CF, SWKS, SOHU, V, UNP, VRTX, BIIB, AAPL, GOLD, GOOG, FAST, ADSK, AMZN, FFIV, AVGO, ALXN, CTSH, MNST, STX, FSLR

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