Futures Point to a Higher Open...

3:00 pm ET - remember the virtual trade homework assignment from last week on CREE, 20 cents above the high of the low day...not there yet, but getting close... 1:20 pm ET - Stocks at or near High of the Low Day - AMED, AKAM, CREE, X, AGU, CBST, CHL, FLS, HANS, IPI, MCD, SPG, SWN, TSL, UNG, WAB Support Bounce Stocks - GR, PCP, ZION Monday's price action is continuing this morning's support bounce.... 10:40 am ET - AKAM is breaking above the high of the low day...CREE is still an inside day, bullish harami... 10:20 am ET - all sectors are moving higher led by Materials, Energy and Financials...FCX, X, AKS, NTRS, RF, MET, FAS, ZION are breaking or near breaking Friday's high... 9:45 am ET - Energy, Materials and semiconductor stocks are the early leaders Monday...since most charts are forming inside day, bullish harami type patterns and few are breaking the high of the low day at this moment, we'll wait to see if this support bounce holds....but our chart stocks AKAM, MA, X and CREE are up nicely at this time BMO – ES +6.75 and NQ +5.25 futures are higher in pre-market trading pointing to a higher open. AAPL -0.56, AMZN -2.15, GOOG +4.35 and BIDU +6.26 are mixed in pre-market trading. The Euro is up 58 pips in overnight trading. Oil is up 52 cents in electronic trading. XLE is up 65 cents in pre-market trading. SPY is up 83 cents in pre-market trading. XLF is up 9 cents in pre-market trading. Continue to watch XLF as a key to a support bounce rally in the SPX as it is doing this morning. Follow your rules in any trading actions today. Be logical. We will be looking for short term technical support bounce and prepared if support breaks look for price to fall to the next support level. SPX Support = 1,175, 1,050 – 1,044 Resistance = 1,085, 1,103 Trading Down: AMZN, AAPL, ESI, GOOG Trading Up: FAS, GS, POT, XLF, X, BUCY, CREE, CHL, CAT, MCD, USO, MSFT, VRTX, AKAM, CTXS Look at these Charts… (click image to enlarge) At the Open on Monday SPY – QQQQ – FAS – BA – ALTR – GMCR – ALGT – SHLD – CREE – STX – ZION – STT – NTRS – DECK – ISRG – BAC – INFY – X – AAPL – AKAM – AMZN – NVDA – SNDK – BUCY – PCLN – UAUA – ACN – AGU – DE – DOW – DHR – MA – PCP – POT –