Pre-market trading is mostly higher and suggests the market is taking another run at the 1,180 resistance. SPY has already made a new intra-day high by 5 cents in the pre- market. Now that the three day weekend is out of the way we may see buyers ready to take this market to the next level.
It appears that trade opportunities many exist in the materials and financial sectors and perhaps energy this morning.
We will watch for a break of resistance this morning while being mindful that a pull back can occur. Trade those charts that meet our rules in the direction of the trend.
The Euro is up 3 pips in overnight trading. Oil is quoting up 85 cents in electronic trading. XLE is up 26 cents in pre-market trading.
SPY is up 43 cents in pre-market trading. XLF is up 10 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 = 1,165, 1,150, 1,139
Resistance = 1,178, 1,216
Trading Down: AGU, FAZ
Trading Up: CREE, FAS, BUCY, X, TDG, FCX, CLF, DE, GS, IPI, POT, WLT, MOS, MON, CAT, USO, JEC, ICE, UAUA, TSL, BA, V, VPRT, SNDK
At the Open on Monday
SPY –
QQQQ –
FAS –
X –
ADBE –
BBY –
QCOM –
POT –
CREE –
JOYG -
UAUA –
SNDK –
AAPL –
ALGT –
NFLX –
RIMM –
SHLD –
BUCY –
BA –
DOW –
DE –
FCX –
WHR –
ZION –
GMCR –
AGU –
IPI –
DHR –
V –
NVDA –
AMD –
PCLN –
DECK –
CAT –
PCP –
UNP –
CLF –
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