BMO – ES +1.50 and NQ +0.75 futures are slightly higher in pre-market trading pointing to a flat open. AAPL +0.55, AMZN +0.05, GOOG +0.32 and BIDU +0.83 are slightly higher 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 UP 47 cents in electronic trading. XLE is up 8 cents in pre-market trading.
SPY is up 11 cents in pre-market trading. XLF is UP 1 cent 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 - 1,106Trading Down: V, MCD, WFC
Trading Up: DECK, ICE, AGU, MELI, SWN, BUCY, HANS, K, BA, DE, GMCR, FUQI, MON, FCX, CAT, X, SPG, SNDK
Look at these Charts…
(click image to enlarge)
At the Open on Friday
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 –
3 comments:
Good morning Dave
Just stopping by to get my daily dose or shot of Dave comments and insights.I"m so grateful to have you as a coach. Mega thanks for everything you do for us .
You are an awesome person and funny too. I admire you a whole bunch. Have a good trading day and a wonderful weekend too.
Dave, thanks for keeping us apprised of the technical chart findings....I took to heart last night the discussion about "recency bias" and how what has happened in my recent trading past, effects my future trading decisions......Which falls right into "not trading my thoughts." I need to move beyond that and stay focused and trust what I know technically! I make good trading decions based on my technical analysis when I don't allow fear into the trade or worse allow fear to keep me out of what would otherwise be a successful trade! I recall you discussing that the coach is harder on the students that he wants to see succeed. So again, thanks for the "straight talk" and "tough love!"
Have a wonderful weekend with your family!
All the best!
Mishel
...Mishel, ditto, all the above!!
Thank you,
DJ
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