BMO – ES -5.50 and NQ -8 futures are higher in pre-market trading pointing to a lower open, seemingly influenced during the past hour by the release of GS earnings. AAPL -1.06, GOOG -3.32 and BIDU -3.18 are lower in pre-market trading.
GS released better than forecast earnings and shares are down in pre-market trading. GS reported $5.25 per share versus forecast or $4.24. Apparently a notable portion of profits came from bond trading profits that some question the repeatability on a quarterly basis. Essentially this is a quality of earnings issue and at least early on traders are selling as shares are down over $4.50 or -2.39%.
C reports 27 cents versus 38 cents forecast.
Profti taking seems to the prefered action in pre-market trading so watch trading to see if it stays above the S1 level of Wednesday's large white candle...the key short term support level.
The Euro is down overnight as the dollar strengthened weakened and oil is down 33 cents in electronic trading. XLE is down cents in pre-market trading.
Thursday’s Key Earnings: GS, C, GOOG, IBM, BAX, AFAM, CBST
SPX
Support = 1,075…1,061…1,056
Resistance = 1,100…1,125
Look at these Charts…
(click image to enlarge)
At the Open on Thursday
SPY –
QQQQ –
XLE –
AAPL –
PCLN –
HANS –
WYNN –
FSLR –
BIDU –
GOOG –
HOLX –
FAS –
AXP –
BAC –
STT –
ZION –
ADBE –
AKAM –
MA –
V –
JCI –
ISRG –
NKE –
BDK –
CAT –
DOW –
WLT –
FUQI –
FWLT –
WHR –
JOYG –
CAM –
FCX –
ARO –
LVS –
AA –
USD –
PWRD -
At the Open on Thursday
SPY –
QQQQ –
XLE –
AAPL –
PCLN –
HANS –
WYNN –
FSLR –
BIDU –
GOOG –
HOLX –
FAS –
AXP –
BAC –
STT –
ZION –
ADBE –
AKAM –
MA –
V –
JCI –
ISRG –
NKE –
BDK –
CAT –
DOW –
WLT –
FUQI –
FWLT –
WHR –
JOYG –
CAM –
FCX –
ARO –
LVS –
AA –
USD –
PWRD -GS -
2 comments:
Gmorning Dave! Y
es, I noticed that pre-market trading and Futures are a bit down this morning..
Thank you for your post and have a great day!
Laney
This is a testimonial Before the Chicago workshop my paper account was down to $88,000 and I was seriously considering resetting it out of frustration but.... that would have been cheating... Then I made it to the Chicago workshop end of July. Granted we have been in a good uptrend since then but before in the past I was closing my trades on pauses usually at a loss . After the workshop I found the discipline to hold my trades through the pauses and not close early. My paper account at the moment is at $102,600 and during this time have not invested more than $20,000 of that account at any 1 time. That sets the 2 1/2 month at $13,000+ profit - Dave listening to you repeat repeat repeat does make a difference - I dont expect to continue with the same profit margin all the time but I know I can make money trading - Thank you
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