Wednesday, July 22, 2009

Futures Point to a Lower Open...

BMO – ES -8 and NQ -6 futures are slightly lower in pre-market trading pointing to a lower open. AAPL is up $5.89 in pre-market trading. AAPL's 150 straddle was price at 13 yesterday so the gap is about half was priced in the options market. Watch AAPL, XLF and the futures until the open and then AAPL, the SPX and SPY to see if they are able to break the 955 resistance area. Financials including WFC -6.11% are trading lower this morning and could be the sector to pull the SPX down from resistance. Short term traders are still on Yellow Alert for a possible pullback at resistance. Be prepared for either direction at this key resistance level. Key Earnings Wednesday: F, GR, ISRG, MOS, UNP Look at these Charts… (click image to enlarge) At the Open on Wednesday SPY – QQQQ –
XLF - FUQI – GMCR – SHLD – FAS – FAZ – ESRX JOYG – STT – X – AMZN – ADBE – AAPL – PCLN – BIDU – GES – NFLX – PWRD – ALGT – INFY – JOSB – PRU – URBN – ARO – CAT – WFC -
GS -

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