Futures Point to a Lower Open...

BMO – ES -10 and NQ -19 futures are lower in pre-market pointing to a lower open. If cash markets open lower follow your rules for short term downside protection as US markets may follow both Asian, the Japanese Nikkei lost 0.8 percent and European stocks were down about 1%. AAPL -1, GOOG -4 and BIDU -5 are also lower in pre-market trading. Stay focused on the key 980 support level expecting a bounce but prepared for a break. Remember, so far this is still a pull back in an up trend, however you should look at Tuesday as a potential short term lower high and look at a break of the Monday/Tuesday low as a break of the low of the high day and evaluate the impact of a move to 965 for 950 on your positions. On the upside TGT (Monday) and DE (Wednesday morning) have had positive reactions to earnings. Some of the stocks in our At the Open list are in short or intermediate term down trends and can be traded to the downside. Look at these Charts… (click image to enlarge) At the Open on Wednesday SPY – QQQQ – ADBE – AAPL – ACN – PCLN – X – FUQI – PWRD – BDK – FAS – BAC – ZION – AKAM – BRCM – EXPD – SYNA – AMZN – BIDU – ESRX – VPRT – AMX – CAM – MHS – NFLX – FWLT – DE – TGT –