Thursday, May 17, 2012

Futures Point to a Flat Open Following Weekly Claims Report...

BMO - ES +1.25 and NQ +2.00 point to a higher open 30 minutes before the open, as ES and SPY bounce from the March support area...Unemployment claims report steady at 370,000…SPY is up 8 cents...The SPY is right at its 132.80 support area...

XLF is flat
Euro is down 7 pips
TLT
is up 7 cents…


NTES, SHLD gap up...

ORLY, DLTR gap lower...

Look for potential support bounce off of intermediate term sideways trend support levels in some instances accompanied by a bullish divergence, flag support bounce entries on up trending stocks and bear flag and support break on down trending stocks…

Continue to follow your rules for entry, exit, adjust stops to protect profits at this time according to your rules...

Quoting Up: NTES, SHLD, PCLN, GOOG, CTRP, ICE, HLF, A, CSTR, UCO, SINA, VMW, CREE, DLR, CRM, CLF, FCX, LNKD, CROX, GS, RCL, BIDU, GOLD, AMZN, AAPL, NFLX, ROST, AMGN, INFY, SBUX

QUOTING Down:  ORLY, DLTR, FOSL, VOD, WYNN, CMG, CHL, V,

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