Tuesday, September 8, 2009

Futures Pointing to a Higher Open and Break of 1,017 Resistance...

10:00 am ET - SPX touches 1,026 and pulls back...FWLT, FUQI and BIDU move higher... BMO – ES +10.25 and NQ +15 futures are higher in pre-market trading pointing to higher open. GOOG +4.44, AAPL +2.44 and BIDU +7.73 are higher in pre-market trading. If pre-market trading holds into the open the SPX will break its 1,017 horizontal resistance area. The next level of resistance is the 1,025 which is the area where it consolidate beginning August 21. Pre-market trading is suggesting that the 1,025 area could be touched near the open. If 1,025 resistance is broken the next level of resistance is 1,044, the October resistance high is the next level or horizontal resistance. The SPX hit an intra-day on 1,039.47 on August 28. If you are long it looks like a nice open this Tuesday morning. Trade with the trend of the stocks you are trading. Oh by the way, if you weren't aware this is an up trend. What does an up trend do? Look at these Charts… (click image to enlarge) At the Open on Tuesday SPY – QQQQ – WLT – JOYG – AMX - DOW – AGU – X – DE – FLS – FWLT – WHR – AXP – PCLN – BDK – BAC – FAS – ZION – AAPL – PCP – FUQI – PWRD – FCX – CAM – MHS – TGT – ARO – ANF – GES –

1 comment:

Anonymous said...

An uptrend makes higher highs and higher lows!

;)

Laney