Thursday, June 4, 2009

Futures Pointing to a Flat to Lower Open...

BMO - ES +1.00 and NQ - 1.25 are flat to lower in pre-market trading pointing to a flat to lower open. Watch the 200 DMA support levels and yesterday's lows in the 923 area as a key to whether prices are likely to hold or go lower. If prices open flat and move higher that could indicate that Wednesday's late day support bounce is going to continue. Look at these charts... (click image to enlarge) At the Open on Thursday SPY – break low of high day KOL – break low of high day USD – break low of high day confirm bearish harami FAS – break low of high day CTV – break low of high day JOYG – white spinning top X – break low of high day ADBE – doji break low of high day OSG – fell to 30 DMA ZION – break spinning top UNG – break low of high day NTAP – fell to 30 DMA FWLT – break low of high day SHLD – bearish harami, above S1 ISRG – bearish harami above S1 ORLY – large white candle CELG - large white candle breakout continuation GENZ – white candle horizontal breakout GILD – large white candle support bounce BIDU - white candle new high close

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