Futures Point to a Flat to Lower Open...

Dave will be on the Weekly Wrap today at 4:30 pm ET with Tom Sosnoff and Ben Watson. 2:40 pm ET - BAC just broke out hitting 17.41... 2:36 pm ET - BAC is knocking on the door of its recent high at 17.35...could be a horizontal breakup...let's watch and see... 2:20 pm ET - XLF is bouncing off yesterday's low at 14...BAC, RF and ZION made higher lows and are relatively stronger than XLF as they are trading positive at this time... Look at these Charts with pull back to the breakout area on light volume... (click image to enlarge) 12:50 pm ET - The ES has been sitting at support for the past two and a half hours and is being to show slight upward movement...watch for a potential support bounce...most stocks are just lower on lighter volume...which suggests this pullback is from a lack of buyers today rather than aggressive selling...typical for a narrow sideways range that we have had for two weeks... 10:15 am ET - during the first 45 minutes of trading today the SPX has traded a 16 point range from the 1,007 resistance area down to the 996 support level indicating that sellers and buyers continue to well balanced at these price levels...I mentioned ADSK's positive earnings in Thursday night's Talk and it is trading to upside this morning +1.14 or +4.71%...ATVI and ERTS are also up otherwise the opportunity this morning has been to the downside...remember the trend is still up and support is a pivot area where prices can bounce or break... BMO – ES -2 and NQ -12 futures are slightly lower in pre-market pointing to a flat to slightly lower open. CPI was unchanged in July and the core CPI was up 0.1%. Look at these Charts… (click image to enlarge) At the Open on Friday SPY – QQQQ – ADBE – AAPL – EBAY – FUQI – PWRD – BIDU – GMCR – BDK – FAS – BAC – ZION – STT – SPG – URE – JOYG – X – GES – NFLX – FSLR – FLS – FWLT – LAMR – AFAM – SNDA – HANS –