At the Open on Tuesday
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 –
Tuesday, January 5, 2010
Futures Pointing to a Flat Opening...
BMO – ES +0.25 and NQ -1.75 futures are mixed in pre-market trading pointing to a flat open. AAPL +0.06, AMZN -0.10, GOOG +0.25 and BIDU +0.25 are mixed in pre-market trading.
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.
The Euro is up 2 pips in overnight trading. Oil is down 12 cents in electronic trading. XLE is up 9 cents in pre-market trading.
SPY is unchanged 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.
Follow your rules in any trading actions today. Be logical.
SPX
Support = 1,106 - 1,117
Resistance = 1,125 – 1,133, 1,145
Trading Down:
Trading Up: POT, CREE, X, RIMM, BUCY, CAT, AGU
Look at these Charts…
(click image to enlarge)
At the Open on Tuesday
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 –
At the Open on Tuesday
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 –
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8 comments:
Dave and poster's, I like this blog and the continue reminders to trade the charts and the fact that the market do not care what I think or anybody else, look for entries and exits and buy when you are suppose to buy and sell when you suppose to sell. an it is alright to step back and watch.I hope the blog stay alive your quidence is priceless.
B4bob
Happy Tuesday Dave and all of you Great Traders who come to this wonderful place of knowledge and prosperity!
Just wanting to let you know Dave, how very valuable you are to us and how much it means to Richard and I to have your continued market posts here!!
We just really don't know what we'd do with out you..
Wishing you a most wonderful Tuesday!
Laney
Hi Dave,
Wow GO FWLT!!
Have a great night.
Denise
What does BMO stand for? I am sure it's something simple but I can't figure it out! Thanks! (just interacting per request, however i do want to know! ) Feliez Anos Nuevo/Happy New Year Everyone!!! Here's to a Killer Yr of trading and rule following- you know i actually am proundof my self for following rules now!!! Thanks DAVE!
Dear Anonymous @ end of this comment list; I believe "BMO" stands for;
'Before Market Open'.
Dave, please correct me if i am wrong..
Anonymous; if we don't hear anything, then we'll know this is correct-
Laney
Dave,
It is interesting how much more confidence I had, and how much calmer I felt, when the market was down 40+ points earlier today (as compared to January 2009 when every little pitch and bump in the market caused me to react, i.e., panic sell). Today, I chose not to speculate about the causes, but just based my decisions on the trend, support & resistance and momentum, and followed my rules. It is an empowering experience to face the market with knowledge and rules.
Thanks for your teachings,
Brian
Everyone,
That's righ BMO = Before Market Open.
Great comments on improved focus and improved empowerment. Those of you who read these experiences learn and apply these insights. You'll be a better trader if you do.
DJ
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