Futures Pinting to a Slightly Higher Open...

BMO – ES +4.25 and NQ +4.25 futures are higher in pre-market trading pointing to a slightly higher open. AAPL +1.52, AMZN +1.25, GOOG +0.24 and BIDU +0.78 are higher in pre-market trading. The Euro is up 74 pips in overnight trading and oil is quoting up 47 cents in electronic trading. XLE is up 12 cents in pre-market trading. The SPX is at horizontal resistance and on Wednesday selling did continue at the 1,110 to 1,115 area just as it did Tuesday afternoon. Stay prepared for a pullback but continue to be mentally flexible buyers push through resistance after three and a half weeks of sideways price action. Financials were down moderately on Wednesday and there are signs of strength at this pre-market hour. If this sector does move on Thursday, it increases the probability that the SPX can break through resistance.

I covered $XAL, Airlines, in a recent webcast and mentioned how the index was starting to lift off...look below at the stocks now. Check out the symmetrical triangle in the SOX and RUT in last night's post and check the stocks below. Follow your rules in any trading actions today. Be logical. SPX Support = 1,087…1,082…1,075 Resistance = 1,110 - 1,115...1,125 Trading Down: Trading Up: AAPL, AMZN, FAS, DE

Look at these Charts… (click image to enlarge) (click image to enlarge) At the Open on Thursday SPY – QQQQ – XLE – FAS – AMLN – ILMN – CREE – DE – STLD – FLIR – FCX – PCP – EXPE – X – NIHD – CSX – UNP – WLT – POT – STX – AAPL – AMZN – PCLN – BUCY – JOYG – DECK – NFLX – ISRG – AKAM – V – NKE – CAT – SWK – ACN – PNC – DD – DIS – UTX –