Tuesday, April 20, 2010

Futures Point to a Higher Open...

BMO – ES +4.00 and NQ +5.25 futures are lower in pre-market trading pointing to a lower open. AAPL +1.23, AMZN +0.97, GOOG +2.41 and BIDU +6.89 are higher in pre-market trading. INTC is up 25 cents, JPM up 33 cents, BAC up 20 cents, GE up 11 cents and GS is up 3.18.

Stocks are generally higher in pre-market trading lifted by financial and energy stocks and positive earnings announcements.  Look for a continuation of Monday's support bounce and potential bull flag confirmation.

The short term is neutral but may turn up today and the intermediate term and long term trends are up.

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

Dave is teaching an AT Workshop in Denver today.

Key Earnings to Watch:
Monday – AKS, BIIB, KO, FUQI, GS, IBM, RF, STT, STLD, ZION
Tuesday – ALGT, AAPL, BK, CREE, DAL, FCX, GILD, JNJ, MCD, MICC, MS, PCAR, UTS, WFC, YHOO
Wednesday – ABT, ALK, AMGN, T, BA, CTXS, DHR, EBAY, GENZ, GR, ESI, KEY, LRCX, NFLX, BTU, QCOM, SNDK, SBUX, TER, VZ, VRTX
Thursday – AMZN, AXP, BUCY, CAL, DECK, HON, MSFT, NUE, PEP, TRV, UNP
Friday – FLIR, SLB

XLE is up 37 cents in pre-market trading.

SPY is up 62 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.

SPX
Support = 1,178, 1,155
Resistance = 1,200, 1,216

Trading Down:  STT, FAZ, UNG,
Trading Up:  GS, FAS, NFLX, BUCY, POT, CLF, CHL, SWK, UYG, FCX, X, MOS, MON, WLT, MA, IPI, URE, V, AGU, USD, USO, BAC, DOW, WFC, ZION

At the Open on Tuesday
SPY –
QQQQ –
FAS –
X –
ADBE –
BBY –
QCOM –
POT –
CREE –
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 –

2 comments:

Judy B said...

"Futures Point to a Higher Open...
BMO – ES +4.00 and NQ +5.25 futures are lower in pre-market trading pointing to a lower open. "

Dave, you did mean pointing to a HIGHER open, didn't you?

I love trading the charts, by the way. All that macro economics and intermarket relationship stuff just hurts my brain.

You Rock!

Prasanna said...

Dear Dave:
Trust you enjoyed day 1 in Denver. Some of your students wish they can travel with you where ever you go! Our goal is to attend at least 2 AT workshops that you teach every year.

Best Regards,