Futures Point to a Lower Open...

BMO – ES -7.50 and NQ -12.00 futures are lower in pre-market trading pointing to a lower open. In pre-market trading AAPL is -2.66, GOOG -3.01, BIDU -1.30.


Bonds are higher and TLT is up 1.01 in pre-market trading.

The Euro is down 23 pips in overnight trading and bouncing off recent lows.

SPY is is down 1.07 and XLF is down 20 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.

Futures are pulling back after Thursday's large move, which is consistent with the sideways trading range of the past three weeks. Watch Thursday's S1 at 1,073 as key short term support today. If price action stays above S1 it increases the probability of bounce continuation towards the 1,105 resistance.

The short term 3 day trend is up. 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.

Follow your rules in any trading actions today. Be logical.

SPX
Support = 1,071, 1,060, 1,044, 1,030
Resistance = 1081, 1,103

At the Open on Friday – patterns this week
SPY – bullish harami
QQQQ - hammer
FAS - hammer
TLT
HSY – breakout
UNG – bearish harami

BIDU - hammer
SNDK - hammer
DECK - hammer
CMG - hammer
ILMN – hammer
UAUA - hammer
CAL – hammer
GOOG – hammer

NFLX – horizontal flag
AKAM - flag
DTV - flag
VMW – flag
CRM - flag
ALK - flag
AAPL – flag like
ORLY – flag
AAP - flag
SWN – flag
AZO - flag
LVS – bullish harami
ICE – flag like

AKS
X -
PCLN -
CLF –
DOW –
BBY –
MA -
V –
CAT –
PCP –
UNP –
FCX –
GMCR –