Futures Point to a Slightly Higher Open...

BMO – ES +1.75 and NQ +1.75 futures are higher in pre-market trading pointing to a higher open. AAPL +0.45, AMZN +0.39, GOOG +0.90 and BIDU +5.12 are higher in pre-market trading. The Euro is down 15 pips in overnight trading creating a short term reversal in the dollar. Oil is unchanged in electronic trading. XLE is up 2 cents in pre-market trading. SPY is up 14 cents in pre-market trading. XLF is down 3 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. Follow your rules in any trading actions today. Be logical. Watch for support bounces today in the many bull flags that are in place on the charts. After the close look for earnings on INTC and JPM. SPX Support = 1,125 – 1,133, 1,106 - 1,117 Resistance = 1,145, 1,155, 1,170 Trading Down: Trading Up: INFY, RIMM, JOYG, KO, AA Look at these Charts… (click image to enlarge) At the Open on Thursday 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 –