Futures Point to a Lower Open....

10:30 am ET - X is moving above Thursday's high... 10:15 am ET - after an early sell that has NOT yet created an entry signal on the SPX bear flag, prices are ralliying from this morning's low but still well below Thursday's close...all sectors are lower...advancing issues are growing...the NDX 100 which only had five positive stocks 30 minutes ago now has 16 stocks in positive territory including: RIMM, NIHD, QCOM, MRVL, NVDA, BRCM, GENZ, BIDU and STLD...X has turned positive and many stocks which opened lower and are still negative for the day are above their open and their candles have turned white.... 9:42 am ET - Apparently China hiked it deposit-reserve ratio over night in an effort to slow growth, which caught traders by surprise. Traders are selling stocks and buying dollars. The Euro is down 135 pips. SPY -1.44 is approaching the low of Thursday which is the high day in the recent bear flag and could generate an entry signal if it continues to go down. Watch for a potential bearish entry signal... BMO – ES -11.50 and NQ -19.00 futures down before the market open pointing to a lower open. AAPL -0.90, AMZN -1.19, GOOG -3.38 and BIDU -3.86 are lower in pre-market trading. The SPX which has been in a down trend for the past four weeks has been in a bear flag rally this week. After a strong up day Thursday futures point to a lower open which if pushes lower after the market opens could create and entry signal for a bear flag…we’ll see how cash markets trade. Follow your rules in any trading actions today. Be logical. SPX Support = 1,050 – 1,044 Resistance = 1,071, 1,079 At the Open on Friday SPY – QQQQ – FAS – BA – CF – DOW – UAUA – ALGT – ALTR – GMCR – SHLD – CREE – STX – ZION – STT – NTRS – DECK – ISRG – BAC – INFY – X – AAPL – AKAM – AMZN – NVDA – SNDK – BUCY – PCLN – ACN – AGU – DE – DHR – MA – PCP – POT –