Futures Pointing to a Slightly Higher Open...

11:05 am ET - after a modest near 4 point rally the SPX sits at 1,127 just above Friday's close...XLF after being up 6 cents is now down 1 cent...do you see the relationship here? AAPL led the rally this morning...SHLD, AMZN, BIDU, PCLN, GOOG, CERN, HANS, FSLR, NIHD and RIMM are all leaders this morning also... Like the SPX most stocks have pulled back from their early morning highs but are still up for the morning... I moved the stop on the X virtual trade on the Jan 46 calls to 10.90...yes, those 50 calls enteed on Dec 9 at 2.19 are quoting at 11.80 bid this morning...with about $48,000 of gain...most are aware I have been targeting the original risk level of about $4,000 (end of day) for stop movement. Dave's Insight: A stop loss is a loss protection tool, insurance. A trailing stop is a profit protection tool. BMO – ES +2.50 and NQ +4.50 futures are higher in pre-market trading pointing to a higher open. AAPL +3.02, AMZN +0.80, GOOG +2.52 and BIDU +2.74 are higher in pre-market trading. Based on pre-market trading it looks as if the SPX is has to move towards the next resistance level of 1,033. There is still a 1,234 chart target for the end of January. The Euro is up 32 pips in overnight trading. Oil is quoting up 45 cents in electronic trading. XLE is up 39 cents in pre-market trading. SPY is up 31 cents in pre-market trading. XLF is up 2 cents in pre-market trading. Watch XLF as a key to sustain the breakout in the SPX. Stay with the trend. Follow your rules in any trading actions today. Be logical. SPX Support = 1,106 - 1,117 Resistance = 1,125 – 1,133 Trading Down: Trading Up: AAPL, SNDK, AMZN, FCX, CREE, X, RIMM, POT, AGU Look at these Charts… (click image to enlarge) At the Open on Monday SPY – QQQQ – FAS – X – AMZN – RIMM – DOW – UAUA – V – JOYG – NVDA – LRCX – WHR – AAPL – AKAM – AMD – CREE – KLAC – PCLN – DECK – NFLX – ISRG – FLIR – CAT – DE – PCP – UNP – PNC – STLD – POT – AGU – ACN –