Futures Pointing to a Lower Open,,,

11:20 am ET - that short term bounce we alerted you to 17 minutes ago is starting to spread to a number of stocks... 11:08 am ET - Just before the close yesterday, we did a real time virtual trade on GOOG a OCT straddle with a 23 cost...the OCT 530 call was 10.30 and the 530 put was 12.70...with the gap up this morning the put is essentially worthless...the call is currently 20.50...so the straddle is -2.50 at this moment...with options expiration today, will of course close the trade today, with a gain or loss...I'll keep you posted... 11:03 am ET - Watching a potential short term support bounce area on the SPX at this moment... 10:45 am ET - An hour and 15 minutes into the trading day and we see overall the market is reacting negatively to the back drop of IBM, BAC and GE earnings...the SPX is down -13.41 and is breaking the low of the high day on an intra-day basis...Thursday's low in 1,086.4...this is a break of less than 1%...0.3% at this point...however it is important for short term traders to be mindful of your exit rules...GOOG is up 20.39...CME +8.39...ICE +4.42...clearly a majority of stocks are down at this time... BMO – ES -5.50 and NQ -6.25 futures are lower in pre-market trading pointing to a lower open. This after BAC and GE earnings are below forecasts this morning. AAPL -1.21, GOOG +17.19 and BIDU +2.19 are mixed in pre-market trading. After the close on Thursday: GOOG adj. EPS $5.89 versus $5.42 estimates IBM $2.40 versus $2.38 estimates, raises full year EPS outlook Friday morning: BAC -0.26 EPS below -0.21 estimate GE 0.23 EPS versus 0.20 estimates The Euro is down overnight as the dollar strengthened weakened and oil is down 25 cents in electronic trading. XLE is down 22 cents in pre-market trading. SPX Support = 1,075…1,061 Resistance = 1,100…1,133 Look at these Charts… (click image to enlarge) At the Open on Friday 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 –