Financials are Higher in Pre-Market...Futures Point to a Flat to Slighly Higher Open...

11:10 am ET - Check out GMCR, ACN, ICE, STI, AKAM, UCO, ILMN, ZION, AAP, ABC, AZO, BIDU, SBUX, NFLX...maybe some setups and entries appearing...


Good Morning...

BMO – ES +1.75 and NQ +0.75 futures are flat in pre-market trading pointing to a flat open. In pre-market trading AAPL is +0.86, GOOG +1.95, BIDU +0.33, NFLX +0.35.

Financial stocks are stronger this morning...

Bonds are lower and TLT is down 37 cents in pre-market trading.


The Euro is down 26 pips in overnight trading and at the support of its 10 and 30 DMA.

SPY is is up 26 cents and XLF is up 18 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.

Short term resistance is at 1,081 to 1,085 Short term support is at 1,071 and the next horizontal support at 1,060.

Trader's should be prepared for bounce or support break to the next level as it unfolds. Follow your rules for potential enter and exits and trade the charts you are trading following the principles of trend, support and resistance and momentum.

This continues to be a pull back, now a 61.8% Fib retracement, in a short term trend; in an intermediate term sideways trend. We also refer to the intermediate term pattern as congestion or consolidation.

Stocks are mixed with a bias to the upside on light volume in pre-market trading.

AAPL and BRCM are also flag patterns and NTRI is a horizontal flag.

Remember the entry on a flag is a break above the high of the low day, so watch for a potential entry signal today...HAS has potential buyout news so be mindful of its gap this morning

Here are 33...YES...33 terrific looking bull flag setups... Bull Flag pull back day 4 in these up trending stocks NFLX, AKAM, SNDK, SBUX, VMW, UAUA, FFIV, ILMN, LVS, BA, CAL, CAT, CRM, HAS, HSY, NYX, SWN, TIE, UNG, UCO, BIDU, NTAP, VECO, SKX, DECK, CMG, ICE, NETL, AAP, ALK, AZO, ABC and DLR. most of which are also listed in our At the Open watch list below.

If the SPX makes a higher low and breaks through 1,105, the new chart target is 1,170 in approximately four weeks.

Watch the VIX level on Friday to see if it pulls back or rises in confirmation of price movement.

Stocks are mostly higher on light volume in pre-market trading.

Trading Down: VMW, BA, FAZ, HAS, BYI

Trading Up: GS, ACN, MA, PNC, FAS, SPG, V, HSY, CRM, USO, CREE, SNDK, ZION, CAT, LVS, NFLX, MOS, TSL, FCX, POT, UCO, AGU, MCD, UAUA

The short term 3 day 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.

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

SPX
Support = 1,071, 1,060
Resistance = 1,081 1,094, 1,105

At the Open on Friday
SPY –
QQQQ -
FAS -
TLT – support bounce

AAPL – flag
CRUS – flag
BRCM - flag
BIDU – flag after symmetrical triangle breakout
AKAM – flag
SNDK – flag
NTAP - flag
ILMN – flag
NFLX – flag
FFIV – flag
DECK - flag
CMG – flag
VMW – flag
ALK – flag
UAUA - flag
CAL – flag
SKX – flag
AZO – flag
LVS –flag
HSY – flag
DLR - flag
CRM – flag
TIE – flag
UNG – flag
UCO - flag
AAP – flag
SWN – flag
ICE – flag
BA – flag
CAT – flag

ORLY –
CSTR -
NETL – reversal breakout pull back
NYX – reversal breakout pull back
GMCR – reversal breakout pull back
VECO – reversal breakout pull back
CREE –

AKS
X – counter trend at support
PCLN – reversal
CLF – potential double bottom breakout
DOW –
BBY –
GOOG
MA -
V –
PCP –
UNP –
FCX –