AA and Futures Point to a Lower Open...

It's a Sea of Red this morning... SHLD is conditional on the pennant breakout and lower/cancel KO limit order on virtual trading...(KO order adjustment doesn't fill as KO opens slightly lower and then moves higher...we'll see if a pull back occurs from the early high...) BMO – ES -8.00 and NQ -11.50 futures are lower in pre-market trading pointing to a lower open. AA -$1.36 or -7.79% in pre-market trading, came in below estimates after the close and is down more than the -5% in after-hours trading on Monday. AA is leading the INDU and market lower this morning. INFY, +$2.27 or +4.14% is up in pre-market, reported better than expected earnings and raised guidance. AAPL -1.75, AMZN -1.69, GOOG -4.89 and BIDU -7.57 are lower in pre-market trading. The Euro is down 24 pips in overnight trading creating a short term reversal in the dollar. Oil is down $1.27 in electronic trading. XLE is down 87 cents in pre-market trading. SPY is down 85 cents in pre-market trading. XLF is down 12 cents in pre-market trading. Continue to watch XLF as a key to sustain the breakout in the SPX which it is not doing this morning. There is still a 1,234 chart target for the end of January, we’ll watch closely to see if the time frame is realistic or will need adjustment. Remember direction and price target are more important than time. We may be seeing those signals for a potential pull back this morning that we have alerting you to look for each day. Follow your rules in any trading actions today. Be logical. Watch support levels this morning especially if you are a short term trader. SPX Support = 1,125 – 1,133, 1,106 - 1,117 Resistance = 1,145, 1,155, 1,170 Trading Down: AA, AGU, X, RIMM, POT, AKAM, FWLT, DOW, CREE, TSL, BUCY Trading Up: INFY Look at these Charts… (click image to enlarge) At the Open on Tuesday SPY – QQQQ – FAS – AA – INFY – X – KO - SHLD - AAPL – AKAM – AMZN – CREE – KLAC – LRCX – NVDA – RIMM – BUCY – DECK – FLIR – FWLT – ISRG – PCLN – STLD – UAUA – ACN – AGU – AMD – CAT – DE – DOW – ICE – MA – PCP – POT – TSL – UNP – WHR –