Futures Poinitng to a Slightly Higher Open...

10:21 am ET - The SPX is trading in a narrow six point range during the first 50 minutes of trading and is currently breaking out of Friday's high...so far today the SPX has made a higher low and now a slightly higher high...FUQI is on the move up +2.20 BMO - ES +3 and NQ +3 are slightly higher in pre-market trading pointing to a slightly higher open. The positives on Friday were a strong Nasdaq and a lower VIX. However the SPX did not move to the upside and the SOX was weak. Remember Friday was a high day with a narrow 9 point range on the SPX. Watch both Friday's high and low and go with today's trading direction...the existing short term move is up...but we will be tuned in for a possible short term reversal. Look at these charts... (click image to enlarge) At the Open on Monday SPY – doji -0.26% QQQQ – white spinning top +0.22% FUQI – above 20 DMA =7.22% DECK – white candle horizontal breakout +2.78% X – white candle continuation +2.64% AMX – large white candle continuation +2.06% AMZN – white candle continuation +2.04% ICE – white candle continuation +1.98% FAS – white candle continuation +1.92% AAPL – white candle +1.84% STT – white candle at horizontal resistance +1.79% PCLN – white spinning top +1.05% SPG – white spinning top +0.76% QCOM – bearish harami at horizontal resistance -0.32% JOYG – hanging man -0.46% MUR – bearish harami -0.96% SHLD – black spinning top -0.98% ESRX – bearish harami -1.18% GMCR – shooting star +-1.41% MRVL – bearish harami -1.67% TRLG - large white candle +7.42% SNHY - large white candle +3.74% BIDU - white candle +2.74%