Futures Point to a Lower Open on Tuesday

BMO - ES -14 and NQ -18 futures are lower in pre-market trading Tuesday morning and point to a lower open. Keep in mind what we discussed over the weekend and Monday on the charts...many are at resistance and formed small candles or other short term reversal signals and look for confirmation of the specific chart you are watching...also keep in mind volume if price movement only moves to short term support levels on light volume the markets may see a similar support bounce as it did on Monday... (click image to enlarge) At the Open on Tuesday SPY – spinning top at resistance SNDA – hanging man at lower price target area DECK – lower high at target 1 CTSH – hanging man new high close above 200 DMA EBAY – bearish harami WYNN – shooting star/tombstone doji SCHN – double bearish harami/pennant X –doji/bearish harami at horizontal resistance FCX – hanging man at horizontal resistance BRCM – hanging man confirm bearish harami URE – doji/bearish harami at 50 DMA LEAP – dragonfly doji at 200 DMA…low day NOC – bullish engulfing COV – spinning top potential morning star below 30 DMA CELG – bear flag