Futures Pointing to a Higher Open...

10:15 am ET - 45 minutes into Monday's trading and the SPX is breaking the high of the low day in a classic bull flag bounce pushing through Thursday's R1 level, now at 1,058...many individual stocks also breaking or at the high of the low day...BDK, PCLN, DOW, FWLT, WHR, JOYG, PCP, FAS, SPY, QQQQ, SPG, WLT, CAM, FLIR and FAST from out At the Open on Monday list...many other stocks are currently forming inside days which can be the setup for a bounce... BMO – ES +3 and NQ +6.50 futures are higher in pre-market trading pointing to higher open. AAPL +1.88, GOOG +2.52 and BIDU +3.44 are also higher in pre-market trading. As of Friday the SPX and many stocks were in a bull flag pull back. We’ll be watching for a potential support bounce this morning. Several stocks had a positive bounce or inside day on Friday which indicates a bounce or slowing downward momentum. Pre-market action looks like we might see a break of the high of the low day on many stocks and maybe even on the SPX. SPX Support = 1,044 Resistance = R1 = 1,056 and 1,061 Look at these Charts… (click image to enlarge) At the Open on Monday 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 –