Futures Point to a Lower Open on Expiration Friday...

BMO – ES -9.50 and NQ -18.75 futures are lower in pre-market trading pointing to a lower open after the senate passed the financial reform bill on Thursday.  In pre-market trading AAPL is -2.51, AMZN -0.41, GOOG -2.41, BIDU -0.98, INTC is down 36 cents, BAC is down 21 cents and GS +0.46.

More stocks are lower this morning than higher on light volume in pre-market trading. Financials XLF is lower on heavy pre-market volume. Other sectors are lower also but on light volume. If support breaks look for price to fall to the next support level.

Volatility increased on Thursday and is poised to rise again this morning. Higher volatility means you should continue to expect bigger and quicker moves both up and down.

Continue to Follow Your Rules.  If you are looking for a potential support bounce in strong stocks like BIDU, WFMI, NFLX, NTRI and HANS continue to wait for the bounce.  Continue to trade weak stocks down.

CRM -6.63, -8.26% on 30 cents EPS vs. estimates 30 cents...lowered Q2 guidance


Bonds are higher and TLT is $1.46 cents higher in pre-market trading.

Trading Down: CRM, BYI, NFLX, PCLN, UYG, HAS, CREE, POT, USD, MA, FAS, SWK, MOS, WFMI, BUCY, URE, can, CAT, WLT, BA, ATI, DOW, LVS, V, PNC,DE, STI, MCD, JEC, CAM, GES, USO, CLF, SWN, WMT, SNDK, CHL, UAUA, WFC, BAC, ZION

Trading Up: FLS, DHR, ESI, UNP, FAZ, HLF, GMCR, LXK, GR, NTRI

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 up 73 pips in overnight trading.

SPY is down 1.30 and XLF is down 21cents 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 = 1.075, 1,044
Resistance = 1,087, 1,094, 1,110, 1,145

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