Futures Point to a Slightly Lower Open...

BMO – ES -2 and NQ -6 futures are slightly lower in pre-market trading pointing to a flat to lower open. AAPL +0.07, GOOG +1.47 and BIDU +1.45 are higher in pre-market trading. We’ll be watching for a continuation of Monday’s support bounce this morning understanding after such a strong move that a pause is also possible. If a pause does occur and the trading stays above Monday’s S1 at 1,054 the move will most likely continue up. The breadth of Monday’s rally with every sector rising and the leadership of financials are both indications of the strength of the support bounce. Most stocks had a support bounce on Monday which formed the large range support bounce in the SPX. This was a very strong resumption of upward momentum in this continuing up trend. SPX Support = 1,056 Resistance = R1 = 1,061 and 1,075 Look at these Charts… (click image to enlarge) At the Open on Tuesday SPY – QQQQ – AAPL – BIDU – GOOG – PCLN – ISRG – BDK – CAT – DOW – FLS – FWLT – WHR – X – JOYG – PCP – AXP – BAC – FAS – SPG – STT – ZION – WLT – FUQI – PWRD – FCX – CAM – ARO – GES – FLIR – JCI – FAST – UAUA –