Futures Pointing to a Flat to Slightly Higher Open...

11:50 am ET - just before mid-day...SPX +6.11...the INDU +76...COMPQ +11.61...RUT +1.98...SOX +3.10...CREE, SHLD, JNPR, FSLR, MRVL, NTAP, QCOM, ADBE, INFY ADBE, JOYG and BUCY are all higher...the SPX is staying inside its horizontal trading range just like the five prior tops we have pointed to on the chart.... 10:30 am ET - one hour into to trading the SPX is at 1,090, up 3 points for the morning...CREE +0.91...CAT +0.21...DE +0.29...CTSH +0.79...FSLR +3.25... BMO – ES = +1.00 and NQ +2.50 futures are lower in pre-market trading pointing to a lower open. AAPL +1.31, AMZN +0.56, GOOG +0.87 and BIDU +2.20 are higher in pre-market trading. The Euro is up 5 pips in overnight trading and oil is quoting down 20 cents in electronic trading. XLE is down cents in pre-market trading. The SPX pulled back to 1,087 Tuesday’s low and did stay above Monday’s S1 at 1,082 as Thursday’s pre-market trading suggested a potential pause day that turned into a pull back to support. We will watch for a support bounce to stay inside the horizontal channel or for a potential break of the S1 level at 1,082 today. Be prepared to be defensive on any long positions that could break support. SPX Support = 1,082…1,075 Resistance = 1,100…1,025 to1,133 Trading Down: Trading Up: PCLN, BUCY, JOYG, CAT, FCX, WLT, STX Look at these Charts… (click image to enlarge) At the Open on Friday SPY – QQQQ – XLE – ATW – STX - AAPL – AMZN – PCLN – BUCY – JOYG – SNDK – CREE – ADSK – DECK – NFLX – ISRG – AKAM – ORLY – SYMC – V – NKE – FCX – CAT – POT – SWK – BDK – WLT – ACN – FAS – PNC – CSX – UNP –