Futures Point to a Lower Open Near 1,044 Support...

BMO – ES -27.50 and NQ -41.50 futures are lower in pre-market trading pointing to a lower open near 1,044 support area. In pre-market trading AAPL is -6.82, AMZN -3.32, GOOG -9.16, BIDU -3.10, INTC is down 52 cents, BAC is down 47 cents and GS -2.32.

Most stocks are lower this morning on moderate volume in pre-market trading with the European debt concerns continuing to drive prices lower.


It appears the SPX will make a recent lower low and open near its February 8 support level. It would be typical to have a technical bounce, but we have to wait and see what US traders do at the cash open. Will they sell breaking 1,044 or see this as a buying opportunity?

If a technical bounce does not occur and prices break 1,044 support look to the next support level at 1,033.

If you have been trading with the short term trend you are already on trading to the downside. Continue trading with the trend and continue to move your stops.

Continue to Follow Your Rules.

Bonds are flat and TLT is up $1.49 in pre-market trading.


Trading Down: PCLN, MA, NFLX, WHR, UYG, ATI, POT, GS, FCX, CAT, X, ICE, CREE, BUCY, BA, CLF, WLT, CRM, V, FAS, URE, SWK, SNDK, DE, SWN, SPG, MOS, PNC, DOW, MCD, USO, LVS, UNP, CAM, WFC, WMT, STI, UAUA, PCP, TSL GMCR, MYGN, JEC, BAC, AMD

Trading Up: FAZ, TLT

The short term trend is down, the intermediate term trend is neutral and long term trend is up.

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

The Euro is down 157 pips in overnight trading. The Euro is down over 150 pips for the second day in a row.

SPY is down $2.87 and XLF is down 39 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 = 1,055, 1,044
Resistance = 1,075, 1,087,

At the Open on Tuesday
SPY –
QQQQ –
FAS –
TLT -
BIDU -
AKAM -
SNDK -
NFLX -
DTV -
HAS -
NTRI -
OSTK -
EXBD -
WFMI -
ILMN –
AAPL –
SHLD –
WHR –
ZION –
DHR –
DECK –
X –
CLF –
BA –
DOW –
BBY –
MA -
V –
PCLN –
CAT –
PCP –
CREE –
AMD –
UAUA –
UNP –
DE –
FCX –
GMCR –