Futures Point to a Higher Open...

Life is greener and BIDU is rockin’ the markets this morning… BMO – ES +2.50 and NQ +4.25 futures are higher in pre-market trading pointing to a higher open. LLTC reported better than expected earnings on Tuesday. AAPL +0.46, AMZN +0.65, GOOG -10.48 and BIDU +58.51 are mixed in pre-market trading. The Euro is up 85 pips in overnight trading creating a short term reversal in the dollar. Oil is down 75 cents in electronic trading. XLE is down 5 cents in pre-market trading. SPY is up 46 cents in pre-market trading. XLF is up 9 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 SPX 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 a support bounce this morning. Follow your rules in any trading actions today. Be logical. Watch support levels this morning for a bounce or potential break, 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: Trading Up: INFY, AGU, X, RIMM, FWLT, DOW, BUCY Look at these Charts… (click image to enlarge) At the Open on Wednesday SPY – QQQQ – FAS – AA – INFY – KO – SHLD – X – 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 –