Wednesday, September 23, 2009

Futures Pointing to a Slightly Hiher Open...

BMO – ES +2 and NQ +4 futures are slightly higher in pre-market trading pointing to slightly higher open. AAPL +0.98, GOOG +1.94 and BIDU +1.21 are also higher in pre-market trading. SPX Support = 1,061 Resistance = 1,075 Keep trading the trend of the chart you have positions in, while looking for any move below Thursday’s low. Until the SPX breaks above 1,075 or below 1,061 it continues inside its horizontal bull flag. These stocks closed higher on Tuesday…watch for support bounce follow through… Look at these Charts… (click image to enlarge) At the Open on Wednesday SPY – QQQQ – AAPL – BIDU – FSLR – GOOG – 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 – JCG – UAUA –

7 comments:

Peggy said...

Good Morning!
Thank you for your early posts..should be an interesting day with the auction and the FOMC. However, I remember you saying that news rarely changes the overall trend. I always keep this in mind whenever the big news events occur. You are so right about that, I've seen it play out so many times before.
Thank you for your continued loyalty and dedication to this blog.
Have a great day,
Peggy

Unknown said...

I second that Peggy. Dave I thought you were the best Workshop at Investools. I have moved on, but very glad I found this blog. Hope all is well

Anonymous said...
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Anonymous said...

Hi Dave,
Since discovering Chart Signals, I have found your sharing of knowledge here about the markets to be so helpful!

I know there are announcements coming out today by the Feds @ 11:15 A.M. PST, but as you have said;

'Big money already has a very good idea of what the "news" is going to be before the media broadcasts it to the public'.

Keeping my eye on the ball...

Laney

Anonymous said...

Dave
your at-cap from this morning 9/23/09 when blake came up i could not hear anything he was saying. Is there something wrong with the recording?????? I could only hear your voice (any comments)
thanks ahead, so sorry i missed the live session.

Brian McAllister said...

Wow, I think I got whiplash today Dave! Thanks to you, I'm learning not to panic, but am watching that 1061 support for my October positions.

Also, I enjoyed the OBV system discussion this morning and look forward to backtesting it.

As always, thanks.

Brian

Dave Johnson said...

Peggy,

Right the overall trend meaning the intermediate term trend. It can as I have said many times create extra volatility inside the trend or cause a one or two day pull back.

Dave