Futures Point to a Higher Open and Potential SPX Breakout...

BMO – ES +4.75 and NQ +4.75 futures are higher in pre-market trading pointing to a lower open. AAPL +1.80, AMZN +0.75, GOOG +6.31 and BIDU +4.49 are higher in pre-market trading.


The SP futures are higher this morning after trading in a narrow range through this entire week. Thursday is the new high day. If pre-market trading continues higher until the open it is likely the SPX will experience a breakout of the 1,150 resistance. If it does breakout out and successfully holds after the open, look for the index to move higher. A successful breakout would give the SPX a 1,255 price target over the next 8 weeks.

The Euro is up 74 pips in overnight trading. Oil is quoting up 80 cents in electronic trading. XLE is up 41 cents in pre-market trading.

SPY is up 49 cents in pre-market trading. XLF is up 13 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 = 1,125 -1,133
Resistance = 1,150

Trading Down: NFLX, FAZ
Trading Up: POT, AGU, MOS, FAS, IPI, GS, MA, MON, BUCY, HANS, WLT, FCX, DE, X, CAT, SYNA, CREE, V, CGA, TSL, ICE, FUQI, GME, ZION, SNDK, BA, USO, GMCR, WMT, DOW, BAC

At the Open on Friday
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 –