Futures Point to a Higher Open...

BMO – ES +5.50 and NQ +8.75 futures are higher in pre-market trading pointing to a lower open. AAPL +1.08, AMZN +0.96, GOOG +2.66 and BIDU +4.24 are higher in pre-market trading.


On Wednesday the SPX paused and formed an inside day. If pre-market trading carries over into the open look for the SPX to regain Wednesday’s pull back.  The long term and intermediate term trends are up.  The short term neutral which was neutral on Wednesday could resume to the upside on Thursday.

Remember to distinguish between price fluctuation and trend change.

The Euro is up 33 pips in overnight trading. Oil is quoting up 42 cents in electronic trading. XLE is up 28 cents in pre-market trading.

SPY is up 58 cents in pre-market trading. XLF is up 9 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
FAS, WLT, X, GS, BA, CREE, POT, DHR, DE

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

Trading Down: PCLN, FAZ
Trading Up: HDB, WLT, X, FAS, POT, GS, FCX, MOS, BA, CREE, POT, V, SNDK, MCD, CAT, USO, BAC, URE

At the Open on Thursday
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 –
CLF -