Futures Pointing to a Lower Open...

1:20 pm ET - The ES stalled out at 933.50 made a second attempt around 11:20 am and then fell to support and even made a slightly lower low at 925.50 around 12:15 pm where it found support and is now in another support bounce move up currently at 929.75... 10:51 am ET - If the ES support bounce continues...look for short term resitance at 935...at 9:33, three minutes after the open this morning, the ES hit 935.25 and then sold off, so this is a key short term resistance area...a successful breakout would produce a chart target of 943... 10:40 am ET - The market has been open just over an hour and the ES is putting on a move to the upside...929 area faded just a bit to 927 and now the ES is pushing 933 so the general 929 area was good and if you were looking for a support bounce trade you may have found it during the last 25 minutes...many individual stocks like BIDU, JOYG, RIMM, ADBE, CTV, MCD and others also seem to have found at least temporary support this morning... 9:52 am ET - ES futures trading like they have found a short term support in the area of 929 - 930...we'll watch closely... BMO - ES -7 and NQ -12 futures are lower in pre-market trading pointing to a lower open. Key support area on ES is the 923 to 930 area. This area had been previous resistance that was broken to the upside last Monday. When the cash markets open the market can bounce up or down from this old resistance now new support area. Watch the open and trade the charts this morning. Look at these charts... (click image to enlarge) Many of the stocks in our At the Open list are down in pre-market trading and are also in up trends which means they will present counter trend moves or support bounce opportunities...It should be a fun morning...

At the Open on Monday SPY – black spinning top +0.02% KOL – black candle +0.99% USD – bearish engulfing -2.94% FAS – black spinning top -2.19% JOYG – breakout continuation three white soldiers +5.92% BIDU – white candle +3.64% ADBE – white spinning top new high close +1.83% X – spinning top +1.77% ISRG – white spinning top above 200 DMA +0.33% FWLT – black spinning top +0.29% SHLD – hanging man +0.20% UNG – white spinning top confirms hammer +0.06% NTAP – hammer -0.21% ORLY – black spinning top -0.63% OSG – black spinning top -0.69% ZION – black spinning top -1.16% CTV – black spinning top -1.48% AAPL – black spinning top RIMM – doji at horizontal resistance VPRT – black spinning top