Futures Point to a Flat to Slightly Lower Open...

BMO – ES +0.00 and NQ +1.00 futures are flat in pre-market trading pointing to a flat open. In pre-market trading AAPL is -0.30, GOOG +1.70, BIDU -0.12, NFLX -0.27.


Bonds are higher and TLT is up 51 cents in pre-market trading.

The Euro is down 45 pips in overnight trading and at the support of its 10 and 30 DMA.

SPY is up 4 cents and XLF is flat in pre-market trading after a 2.7% move up on Friday. 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.

After Friday's bullish harami trader's should be prepared for bounce confirmation 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.

The SPX pull back, held at the 61.8% Fib retracement. The SPX is still in an intermediate term sideways trend, congestion or consolidation with price at support.

Remember the entry on a flag is a break above the high of the low day, some gave entries on Friday but most are setup very nicely...see Friday's post...so watch for a potential entry signal today...

Here are 33...YES...33 still good looking bull flag setups... Bull Flag pull back day 5 in these up trending stocks NFLX, AKAM, SNDK, SBUX, VMW, UAUA, FFIV, ILMN, CRUS, 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 Monday to see if it pulls back or rises in confirmation of price movement.

Stocks are mixed with even number up and down on light volume in pre-market trading.

Trading Down: VMW, BUCY, BA, POT, USO, ICE, DE, FCX, ACN, UCO, UNG, CAT, GME

Trading Up: CMG, MHS, CRM, AMX, SNDK, TIE, MCD, GS, PCLN, DOW, WMT, TSL

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 Monday
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 –