Futures Point to a Lower Open...

2:45 pm ET - stocks rally from intra-day lows...buyers step in at SPX 1,087 area again on Friday...NKE turns positive...FCX above opening price...support is still holding here on expiration Friday... 11:00 am ET - selling pressure continues to push prices down...SPY, DIA and IWM are currently trading just above Thursday's low...the hammer on Thursday on CAT, AKAM, CREE, NKE and FCX are NOT confirming at this time, indicating a pull back continuation in each of those stocks... BMO – ES -6.25 and NQ -5.75 futures are lower in pre-market trading pointing to a lower open. AAPL -1.36, AMZN -1.24, GOOG -2.99 and BIDU -2.26 are lower in pre-market trading. The Euro is down 77 pips in overnight trading and oil is down 77 cents in electronic trading. XLE is down 50 cents in pre-market trading. The SPX fell to 1,088 on Thursday before closing at 1,094. The dollar is stronger overnight and ES futures are down. Energy XLE is lower. Other sectors are lower in pre-market trading on little volume. On Thursday buyers did not step in at the 1,100 support area once the cash market opened, so being prepared for a move to the next support level was exactly the correct strategy. On Friday watch the support levels below…if broken look for price to move to the next lower leve. SPX Support = 1,087…1,082…1,075 Resistance = 1,100…1,025 to1,133 Trading Down: SPY, IWM, JOYG, FCX, XLE, CAT, POT, FSLR Trading Up: Look at these Charts… (click image to enlarge) At the Open on Friday 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 –