Futures Point to a Higher Open and Support Bounce...

BMO – ES +5.50 and NQ +9.25 futures are higher in pre-market trading pointing to a higher open. AAPL +1.49, AMZN +0.39, GOOG +0.17 and BIDU +0.16 are higher in pre-market trading. The Euro is up 58 pips in overnight trading and can be interpreted as making a lower low compared with its Nov 16 low. Also look at the period from Oct 25 to Nov 2 and the subsequent rise in the Euro. Oil is quoting up 93 cents in electronic trading. XLE is up 38 cents in pre-market trading. SPY is bouncing up from support inside its horizontal trading range. After four weeks of sideways trading we still need to be prepared for a break of support. Financials, XLF, is up cents in pre-market trading. Follow your rules in any trading actions today. Be logical. SPX Support = 1,087…1,082…1,075 Resistance = 1,106 - 1,117…1,125 – 1,133 Trading Down: Trading Up: FAS, AKAM, FSLR, X, FCX, POT, CAT, JOYG, AMD Look at these Charts… (click image to enlarge) At the Open on Wednesday SPY – QQQQ – XLE – FAS – AKAM – AMLN – KLAC – LRCX – NVDA – CREE – AMD – DE – STLD – FLIR – FCX – PCP – EXPE – X – NIHD – CSX – UNP – WLT – POT – STX – AMZN – PCLN – JOYG – DECK – NFLX – ISRG – V – NKE – CAT – SWK – ACN – PNC – DIS – UTX – UAUA –