Early Futures Trading Points to Slightly Higher Open...

BMO – ES +2.50 and NQ +5.00 futures are slightly higher in pre-market trading pointing to a slightly higher open. In pre-market trading AAPL is +2.73, AMZN+3.20, GOOG +3.53, BIDU +0.35.


Stocks are slightly higher on light volume early this morning in pre-market trading.

You should follow your rules this morning and sell when you are supposed to sell and buy when you are supposed to buy. Early trading is not indicating any follow through selling from Friday so be prepared for a potential bounce and watch for short term resistance levels and the up trending and down trending stocks mentioned in Friday's post.  If support breaks look for the SPX to test the 1,040 low.

Look to leading stocks like AAPL, AKAM, BIDU, NFLX , SNDK, VMW and CMG and stronger stocks like CRM, DE, HAS, HLF, ICE, LVS, OSTK, SWN, UAUA, UNG and WFMI as to whether they stay above recent support or not.

Continue to Follow Your Rules.

Bonds are down and TLT is down 49 cents in pre-market trading.

Trading Down: FAZ, UNG, SNDK

Trading Up: FAS, BAC, LVS, X, SWN, DOW, BUCY, CAT, CLF, CHL

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 up 5 pips in overnight trading and has fallen to new lows.

SPY is is up 45 cents and XLF is up 7 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 = 1,060, 1,055, 1,040
Resistance = 1,071, 1,081,1,089

At the Open on Monday
SPY
QQQQ
FAS
TLT
AKAM
GOOG
UNG
HSY
SNDK
NFLX
ILMN
DTV
AAPL
ORLY
AAP
SWN
CRM
UAUA
CAL
ALK
DECK
LVS
ICE
VMW
CMG
BIDU
AKS
X -
PCLN -
CLF –
DOW –
BBY –
MA -
V –
CAT –
PCP –
UNP –
FCX –
GMCR –