Up, Up and Away in a Beautiful Support Bounce?...

Dave will be in meeting this morning and will have a sub in AT capstone and VC options.  I'll see you live on Thursday morning and evening...

BMO – ES +8.00 and NQ +12.75 futures are higher in pre-market trading pointing to a higher open near 1,044 support area. In pre-market trading AAPL is +4.48, AMZN +0.52, GOOG +5.07, BIDU +2.25, INTC is up 25 cents, BAC is up 39 cents and GS +1.91.

Most stocks are higher this morning on moderate volume in pre-market trading on a support bounce continuation. If you have not been willing to believe the MACD bullish divergence get yourself objective and trade the charts signals and not your thoughts.

Will they sell breaking 1,044 or see this as a buying opportunity? Apparently US traders saw the open around 1,044 on Tuesday as a buying opportunity, did you?

The typical technical bounce did occur yesterday and pre-market trading is continuing that bounce. Keep in mind that the intermediate term trend is neutral. What do neutral trends do at support?

If you have been trading with the short term trend you are already on trading to the downside, it is now time to make sure you are exiting these trades when the charts and your rules tell you to. Trade with the short term trend reversal and continue to move your stops.

Continue to Follow Your Rules.

Bonds are lower and TLT is down 57 cents in pre-market trading. Check out TBT.

Trading Down: FAZ, CHL

Trading Up: PCLN, NFLX, MA, DECK, POT, GS, UYG, CREE, BUCY, CLF, WLT, FCX, DE, BA, URE, MHS, FAS, X, AGU, CRM, CAT, V, ZION, UNP, UAUA, JEC, SWN, FLS, STI, SNDK, ACN, ATI, TSL, MOS, OSTK, WFMI, PNC, WMT, WFC, DOW, CAM, GMCR, LVS, USO, SPG, AKS, BAC

The short term trend is neutral, 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 99 pips in overnight trading.

SPY is up 95 cents and XLF is up 23 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 = 1,075, 1,055, 1,044
Resistance = 1,087, 1,093, 1,107

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