Wednesday, February 24, 2010

Futures Point to a Flat Open...

BMO – ES +1.00 and NQ +4.25 futures are slightly higher in pre-market trading pointing to a slightly higher open. AAPL +1.00, AMZN +0.16, GOOG -2.00 and BIDU +0.37 are mixed in pre-market trading.
The SP futures are slightly higher over night after Tuesday broke the low of the high day. Watch the 1,100 short term resistance area on the SPX. If price can not get and stay above this area expect price to move lower.

The Euro is up 32 pips in overnight trading. Oil is quoting down 25 cents in electronic trading. XLE is up 12 cents in pre-market trading.

SPY is up 51 cents in pre-market trading. XLF is up 8 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.

Follow your rules in any trading actions today. Be logical.
SPX
Support = 1,087
Resistance = 1,100 - 1,106

Trading Down: POT, MOS, FAZ, USO, FCX
Trading Up: BUCY, TSL, FAS, GS, BA, MCD, X, SNDK, CAT, NFLX, BAC, WFC, UYG, UNG
Look at these Charts…
(click image to enlarge)

















At the Open on Wednesday
SPY –
QQQQ –
FAS –
CF –
UAUA –
DOW –
X –
CREE –
ALGT –
ALTR –
NFLX –
RIMM –
BA –
STX –
DE –
WHR –
AMLN –
ZION –
STT –
GMCR –
IPI –
SHLD –
BUCY –
DHR –
V –
NVDA –
AMD –
PCLN –
DECK –
CAT –
PCP –
UNP –
POT –
AGU –
ACN –

1 comment:

Anonymous said...

Hello Dave, I hope you are having a wonderful day -

I just wanted to stop in and give you a special Thank You, for all that you consistently do for so many of us, all the time!!!!

Wishing you much enrichment and joy!

Laney