Futures Pointing to a Higher Open...

BMO – ES +3 and NQ +4 futures are higher in pre-market trading pointing to a higher open. AAPL +0.92, GOOG +1.42 and BIDU +0.83are higher in pre-market trading. We wrote Tuesday morning of a potential pause in the SPX on Tuesday and that is what the market delivered. The trading did stay above Monday’s S1 at 1,054 and the trend still suggests the move will most likely continue up. So, we’ll be watching this morning for a continuation of Monday’s support bounce. Several stocks like PCLN, PWRD, FUQI, FSLR, BDK DE, JOYG, WHR and WYNN did have support bounce continuation on Tuesday. From September 16 -23 the SPX traded between 1,057 and 1,080 so this level is an area where traders are trading both sides of the market. SPX Support = 1,056 Resistance = R1 = 1,061 and 1,075 Look at these Charts… (click image to enlarge) At the Open on Wednesday SPY – QQQQ – AAPL – BIDU – GOOG – PCLN – ISRG – BDK – CAT – DOW – FLS – FWLT – WHR – X – JOYG – PCP – WYNN - AXP – BAC – FAS – SPG – STT – ZION – WLT – FUQI – PWRD – FCX – CAM – ARO – GES – FLIR – JCI – FAST – UAUA –