Wednesday, May 20, 2009

Futures Pointing to a Flat to Higher Open...

BMO - ES +6 and NQ +5 are up in pre-market trading pointing to a flat to slightly higher open. Since Tuesday was a high day watch the support low SPX 905 and Monday's S1 897 as key short term support levels. Short term traders would again be on a Yellow Alert if short term support is broken. This week so far the SPX has had one thrust day and one pause day... Take a look at these stocks going into Wednesday... (click image to enlarge) At the Open on Wednesday SPY – black shooting star KOL – white shooting star at horizontal resistance FAS – dark cloud cover URE – black spinning top USD – white candle break high of low day STT – white spinning top at horizontal resistance ZION – large black candle pullback to support EBAY – white hanging man above horizontal resistance ADBE – white spinning top WYNN – black candle SCHN – large white candle STLD – large white candle JNPR – white candle continues support bounce CTV – large white candle continues support bounce OSG – black spinning top above Monday’s S1 level EL – black spinning top above Monday’s S1 level WHR – black spinning top RIMM – white spinning top

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