Futures Flat...290,000 New Jobs in April...9.9% Unemployment

BMO – ES +1.25 and NQ -2.50 futures are higherer in pre-market trading pointing to a higher open. In pre-market trading AAPL is -0.80, AMZN -0.66, GOOG -0.17, BIDU -0.81, INTC is down 11 cents, BAC is up 18 cents and GS +2.48.

Pre-market trading is being led by XLF Financials, XLK Technology and XLI Industrials.

More stocks are quoting up than down on light pre-market volume. With volatility at higher levels than we have seen in 9 months prices move faster in both directions. Remember the fourth quarter of 2008?

The best guidance today is Follow Your Rules.  Cash is a position.

We will continue to focus on the short term down trend until momentum clearly moves to the upside. Look to tighten stops on any bearish positions that look poised to bounce. Watch those up trending flag stocks from Wednesday night's post for up trending entries.

Bonds are lower and TLT is -$1.34 lower in pre-market.

Lower after Earnings
HANS -6.77, -15.91%, 35 cents EPS vs. estimates 45 cents

Trading Down: HANS, LXK, MA, CREE, WLT, MCD, FAZ, WFMI, USO
Trading Up: GS, PCLN, URE, CRM FLS, NFLX, JEC, UYG, FCX, IPI, AGU, URE, CHL, LVS, TSL, PNC, BUCY, X, UAUA, FAS, ATW, UNP, WHR, BAC

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

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

The Euro is up 63 pips in overnight trading.  Oil is down 45 cents in electronic trading. 

SPY is down 10 cents and XLF is up 6 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 = 1,125, 1,119, 1,105
Resistance = 1,145, 1,155, 1,178

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