Dollar Down, Energy Higher, Futures Point to a Flat to Slightly Higher Open...

BMO – ES +2.50 and NQ -0.75 futures are mixed in pre-market trading pointing to a flat to slightly higher open. AAPL +0.25, AMZN -0.15, GOOG +0.56 and BIDU -0.50 are mixed in pre-market trading. The Euro is up 104 pips in overnight trading and oil is quoting up 80 cents in electronic trading. XLE is up 38 cents in pre-market trading. Look at the non-correlation between the Euro and the SPX this morning...just an interesting observation...correlations are not 100%. The SPX did pause, pull back, held above Monday’s S1 and rallied to a new high close on Tuesday. The dollar is weak overnight and ES futures are up only slightly. Energy XLE however is higher and looks to lead the market in early trading. Other sectors are mixed in pre-market trading on little volume. We will watch for the trend to move stocks higher today. We continue to see the next resistance level as the likely price target for the SPX. This continues to be a strong intermediate term up trend. Continue to trade with the trend according to your rules. SPX Support = 1,101...1,082…1,075 Resistance = 1,025 to 1,133 Trading Down: STX Trading Up: BUCY, JOYG, FCX, XLE, CAT, POT, MOS, FSLR, DE Look at these Charts… (click image to enlarge)

Breakouts: CSX, UNP, WLT, POT, BIDU At the Open on Wednesday SPY – QQQQ – XLE – FAS – STLD – FLIR – FCX – PCP – EXPE – X –

DE -

LRCX – NIHD – CSX – UNP – WLT – POT – STX – AAPL – AMZN – PCLN – BUCY – JOYG – CREE – DECK – NFLX – ISRG – AKAM – SYMC – V – NKE – CAT – SWK – BDK – ACN – PNC –