Futures Point to a Flat Open...

9:33 am ET

Look at these Charts

(click image to enlarge)

BMO – ES -0.75 and NQ +1.50 futures are flat in pre-market trading pointing to a flat open. In pre-market trading AAPL is +0.84, AMZN +0.02, BIDU -2.70, INTC is down 9 cents, BAC down 11 cents and GS -8.08.

GS is down over $8 in pre-market trading following announcement of criminal probe and downgrade by B of A/Merrill. This is leading Financials XLF lower. Healthcare XLV is also lower Friday morning while Industrials XLI, Home builders XHB and Energy XLE are higher.

Look for potential continuation bounces in these bull flag setups on Friday: WHR, CAT, BA, URE, DHR, SNDK, ZION, SYNA, ACN, PCP, DECK, GES, GR, ATI, PCLN, NFLX, SWK

Positive Earnings Reactions: DLB, JRCC
Negative Earnings Reactions: AVP, SWN, VPRT

Key Earnings to Watch:
Thursday – AET, AEM, AGN, AMX, BDX, BMY, CAM, CELG, CVX, XRAY, DLB, EXPE, XOM, JRCC, KLAC, MXIM, WFR, MET, PG, SPG, SWN, VPRT
Friday – AVP, DISCA

The short term is up and the intermediate term and long term trends are up.

Trade those charts that meet your rules in the direction of the trend.

The Euro is up 97 pips in overnight trading.  Oil is up 67 cents in electronic trading. 

SPY is up 4 cents and XLF is down 18 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 = 1,200, 1,178
Resistance = 1,216, 1,220

At the Open on Friday
SPY –
QQQQ –
FAS –
ILMN –
AKAM –
DOW –
BBY – flag
SNDK – flag
AAPL – flag
SHLD – flag
NFLX – flag
BA – flag
WHR – flag
ZION – flag
DHR – flag
V – flag
PCLN – flag
DECK – flag
CAT – flag
PCP – flag
X –
CREE –
AMD –
UAUA – potential merger
UNP –
CLF –
DE –
FCX –
GMCR –