Future Point to a Lower Open...

BMO – ES -2.50 and NQ -3.25 futures are lower in pre-market trading pointing to a lower open. AAPL -0.86, AMZN +0.06, GOOG -3.00 and BIDU +2.01 are mixed in pre-market trading.

Look for a gap up in ADBE after reporting 40 cents vs. 37 cents estimate after the close on Tuesday.

On Tuesday the SPX broke through short term resistance at 1,169 and the SOX broke through January resistance. Expect this up trend to continue but don’t be surprised if prices pause and pull back slightly. The dollar is up and commodity prices and related will likely see some selling pressure this morning. This could keep broader indexes down in early trading.

Remember to distinguish between price fluctuation and trend change.

The Euro is down 134 pips in overnight trading. Oil is quoting down 1.37 in electronic trading. XLE is down 65 cents in pre-market trading.

SPY is down 38 cents in pre-market trading. XLF is down 7 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.

Look at these Charts

(click image to enlarge)

SPX
Support = 1,169, 1,150, 1,139
Resistance = 1,178, 1,216

Trading Down: FCX, FAS, GS, MOS, USO, X, CHL, AGU, CAT, POT, IPI, DE, TSL, FUQI, UNG
Trading Up: JEC, BUCY, FAZ, SWK

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