Futures Point to a Lower Open...

9:53 am EDT - prices seem to have found support near Friday's low and seem to be bouncing with bull flag patterns, financials have turned positive...XLF, XLY, XLK XLI and XLV are all positive at this time...

9:38 am EDT -

Look at these Charts

(click image to enlarge)

BMO – ES -5.00 and NQ -4.00 futures are lower in pre-market trading pointing to a lower open. AAPL +0.10, AMZN -0.68, GOOG -2.34 and BIDU -6.11 are mostly lower in pre-market trading. INTC is down 2 cents, JPM down 25 cents, BAC down 26 cents, GE down 16 cents and GS is down 2.87.

Most stocks are lower this morning in pre-market trading. Concerns over other countries suing GS and the possibility of other banks being sued seems to be weighing on financial stocks.

Prices broke the high of the low day on the SPX, INDU, COMPQ and RUT as all four indexes formed an evening star on Friday. Watch for a potential support level near Friday’s low. We will be looking at price reaction today on key stocks that are releasing earnings.

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

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

Key Earnings to Watch:
Monday – AKS, BNI, 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

The Euro is down 48 pips in overnight trading. Oil is down 1.82 in electronic trading. XLE is down 50 cents in pre-market trading.

SPY is down 34 cents in pre-market trading. 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 = 1,178, 1,155
Resistance = 1,200, 1,216

Trading Down: FAS, GS, PWRD, UYG, POT, USO, SNDK, JEC, FCX, MELI, WLT, X, V, CREE, BA, CLF, ICE, PCLN, IPI, URE, DE, BUCY, MOS, UAUA, TSL, DOW, CAT, NFLX, BAC, ATI, SPG, CGA, WFC, MCD

Trading Up: MON, FAZ, GME, SYNA, UNG, STT

At the Open on Monday
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 –