Futures Point to a Higher Open...Another Bounce at Support?

1:52 pm E% - SPX holds at support...SNDK definitely not one of the those earnings that gap lower and rebounds... 11:20 am ET - rally fades...still positive...watch support... 10:52 am ET - SNDK is trading below its open so just keep watching here for signs that traders who didn't get an increase in guidance are out of the stock...X up 9:46 am ET - X is showing it's first sign of a potential support bounce following its lower than expected earnings on Tuesday...it formed an inside day on Thursday...stock is up +1.08, +2.37% but still under Wednesday and Thursday's daily high... 9:38 am ET - VPRT shares +3.33 after strong earnings and lower next quarter guidance....SNDK up from lower open...CREE moving up from higher open... BMO – ES +8.25 and NQ +17.25 futures are higher in pre-market trading pointing to a higher open. AAPL +1.71, AMZN +3.29, GOOG +3.71 and BIDU +2.16 are higher in pre-market trading. There appears to be a solid rebound in NDX stocks this morning led by major tech companies MSFT and AMZN after reporting earnings after the close on Thursday. SNDK shares are lower in pre-market trading after reporting strong earnings and with guidance that was in line with expectations. View is that shares are off because some investors wanted a raise in guidance. This could be one of those situations that open lower and then go higher when those traders who aren't happy with great results and steady guidance, sell out and leave and everyone else says this is a good report. Keep your eye on this one... Remember that paper trade homework assignment on CREE if it breaks the high of the low day... SPY is up 55 cents in pre-market trading. XLF is up 11 cents in pre-market trading. Continue to watch XLF as a key to a support bounce rally in the SPX as it is doing this morning. Follow your rules in any trading actions today. Be logical. Since the 1,085 support has not broken, we will still be looking for support bounce follow through today. If support breaks look for price to fall to the next support level. SPX Support = 1,087, 1,175 Resistance = 1,103, 1,115 Trading Down: SNDK Trading Up: AMZN, MSFT, MA, UNP, FAS, PCLN, GS, POT, MOST, ALGT, DECK, XLF, STT, ZION, GMCR, DE, X, CREE Look at these Charts… (click image to enlarge) At the Open on Friday SPY – QQQQ – FAS – BA – ALTR – GMCR – ALGT – SHLD – CREE – STX – ZION – STT – NTRS – DECK – ISRG – BAC – INFY – X – AAPL – AKAM – AMZN – NVDA – SNDK – BUCY – PCLN – UAUA – ACN – AGU – DE – DOW – DHR – MA – PCP – POT –