Futures Point to a Slightly Lower Open

BMO – ES -3.25 and NQ -4.50 futures are mixed in pre-market trading pointing to a flat to slightly lower open. AAPL +0.43, AMZN -0.50, GOOG +1.56 and BIDU +0.00 are mixed in pre-market trading. The Euro is down 91 pips in overnight trading. Oil is down 85 cents in electronic trading. XLE is down 10 cents in pre-market trading. SPY is down 30 cents in pre-market trading. XLF is down 2 cents in pre-market trading. Continue to watch XLF as a key to sustain the breakout in the SPX. 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. While trading with the trend continue to watch for your signals for a potential pull back. Follow your rules in any trading actions today. Be logical. SPX Support = 1,106 - 1,117 Resistance = 1,125 – 1,133, 1,145 A number of stocks are quoting higher and lower but with no trading volume in the pre-market. We’ll just need to wait for more action closer to or at the open. Trading Down: X, RIMM Trading Up: POT, AKAM, NFLX Review the Charts from our Monday through Wednesday’s post. At the Open on Thursday SPY – QQQQ – FAS – X – AAPL – AKAM – AMZN – CREE – KLAC – LRCX – NVDA – RIMM – BUCY – DECK – FLIR – FWLT – ISRG – NFLX – PCLN – STLD – UAUA – ACN – AGU – AMD – CAT – CME – DE – DOW – ICE – MA – PCP – POT – UNP – WHR –