Jobless Claims Rise...Futures Drop Point to a Lower Open...

BMO – ES -19.00 and NQ -33.00 futures are lower in pre-market trading pointing to a lower open after new jobless claims rose 25,000. Expectations were for a drop of 4,000.



In pre-market trading AAPL is -5.47, AMZN -2.89, GOOG -7.33, BIDU -2.21, INTC is down 42 cents, BAC is down 35 cents and GS -2.25.

Stocks are lower this morning on heavy pre-market volume volume and at the support low of Friday May 7. If support breaks look for price to fall to the next support level.

Volatility increased on Wednesday 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.

Trading Down: PCLN, NFLX, MA, DECK, CRM, CREE, FLS, UYG, ICE, ATI, CLF, GS, BUCY, FCX, AGU, CLF, X, CAT, WLT, UNP, FAS, MOS, PNC, DE, SWN, PWRD, ZION, USD, MCD, TSL, USO, CAM, LVS, SNDK, STI, V, JEC, UAUA, BA, GMCR, IPI, AMX, DOW, CHL, WFC


Trading Up: FAZ, GME, WHR

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 52 pips in overnight trading.

SPY is down 2.29 and XLF is down 30 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 = 1094, 1,087, 1.075, 1,044
Resistance = 1,094, 1,110, 1,145

At the Open on Thursday
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 –