Thursday, May 14, 2009
Futures Pointing to a Flat Opening...
BMO - ES -2 and NQ +1 futures are near flat in pre-market trading pointing to a flat opening...we'll be watching for either a continuation of the pull back or the market finding support between yesterday's close and the 875 area on the SPX...trade accordingly based on the Chart Signals and your trading rules.
Look at the support levels on these charts....
(click image to enlarge)
At the Open on Thursday
SPY – large black candle did not confirm hammer
FAS – large black candle
STT – large black candle did confirm hammer still in bull flag
WYNN – large black candle break support of horizontal flag
KOL – large black candle did not confirm hammer
SCHN – large black candle did not confirm hammer/bullish harami
EBAY – large black candle stays above gap support at 200 DMA
SNDA – large black candle
ZION – black candle in bull flag
ADBE – large black candle above bullish engulfing support
J NPR – black candle in bull flag above gap support
CTV – black candle falls to gap support
BBT – gap down white candle
OSG – gap down black candle does not confirm hammer in bull flag
EL – black spinning top breaks gap support
ICE – white candle in bull flag support bounce
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