Futures Up...Look for Possible New Highs After the Open...

3:15 pm ET - The SPX is pushing to a new high 1,027.59...the 1,025 price target that we have been talking about since the July breakout of the 950 resistance has been reached today. While we don't expect the SPX to go straight up, the last three weeks being evidence of this bit of wisdom, the next SPX targets are 1,044 and the May 4 breakout price target of 1,075. I hope you had a profitable day trading today... 10:18 am ET - SPX hits 1,025.94...Some of you are aware of the live virtual trades we did in our AT Workshop in Chicago on July 30...XLF Sep 13 call at 57 cents...now 1.75 a gain of 1.18 or 207% and the BAC Sep 15 calls at 66 cents...now 2.75 a gain of 2.09 or 316% 10:00 am ET - SPX HITS 1,020... BMO – ES +8 and NQ +9 futures are higher in pre-market pointing to a higher open. August options expire today. GOOG +2, AAPL +87 cents and BIDU +2 are also higher in pre-market trading. With futures near their highs of the past two weeks, cash markets are likely to open near the SPX 1,018 high of two weeks ago. It looks like we’ll get to see today if sellers are exhausted at this level or not this morning. Be prepared for new highs today. See last night’s post for more on this. Look at these Charts… (click image to enlarge) At the Open on Friday SPY – QQQQ – JOYG – FCX - DOW – PCLN – FAS - ZION - STT - AGU - DD - AMZN - AKAM - AMX - BIDU - FWLT - CAT - GOOG – ADBE – AAPL – ACN – X – FUQI – PWRD – BDK – BAC – BRCM – VPRT – CAM – MHS – NFLX – DE – TGT –