Futures Point to Higher Open

2:10 pm ET - The ES rose to the 800 area four times and pulled back on the fifth time are around 1:15 it looked like it would break through...it rose to 802.25 and sellers pushed it back 10 points to 792.50. It is now consolidating aroung 796...watch to see if this is a lower high and the pull back continues or if it is ready to move to 800 again... 10:36 am ET - Stocks have remained strong in the first hour of trading...ES futures which opened at 783.50 are trading 10 points higher at 793.50, up a total of 29.50 points for the day. Buying strength is being attributed to the government's proposal to help remove bad assests from banks balance sheets. BMO - ES +17 and NQ +22 futures are higher in pre-market trading pointing to a higher open. We'll see how the cash market trades and look for entry signals on the charts. At the Open on Monday SPY – pulled back to 30 DMA VNO – 61.8% Fib retracement ARO – buyers at 20 DMA MS – pulled back to 50 DMA ESS – closed below 30 DMA GS – two day pullback SNDA – buyers at 20 DMA OSG – bearish engulfing CTSH – broke the low of the high day LEAP – evening star just above 200 DMA