Futures Pointing to a Lower Open...

10:10 am ET - filled on virtual trades RIMM on breakout and CTXS at 2.00, 45 cents lower than Monday night's limit order at 2.45, STLD still working, AAPL, AMZN and ZION are up...SPX buyers appear at 1,088... BMO – ES -10.00 and NQ -16.00 futures are lower in pre-market trading pointing to a lower open. AAPL -0.69, AMZN -0.39, GOOG -2.75 and BIDU -4.38 are mixed in pre-market trading. The Euro is down 75 pips in overnight trading and can be interpreted as making a lower low compared with its Nov 16 low. Oil is quoting down 1.28 in electronic trading. XLE is down 54 cents in pre-market trading. SPY is going to open closer to support inside its horizontal trading range. After four weeks of sideways trading we still need to be prepared for a break of support. At the same time keep in mind that during the past four weeks lower prices in Asia and Europe have led to a support bounce in the U.S. once the cash markets have opened. Financials, XLF, is down 12 cents in pre-market trading. We are still looking for this sector to pick up to support a breakout of the SPX. Virtual Trades: I am adjusting the limit prices to reflect a lower open on the CTXS and STLD virtual trades that we placed in our webcast last night. RIMM was based on a breakout price, so no adjustment on it. 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: FAS, AKAM, FSLR, STLD, X, FCX, POT, CAT, JOYG Trading Up: Look at these Charts… (click image to enlarge) At the Open on Tuesday SPY – QQQQ – XLE – FAS – AKAM – AMLN – KLAC – LRCX – NVDA – CREE – 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 –