Futures Point to a Higher Open...

BMO – ES +9.25 and NQ +16.50 futures are lower in pre-market trading pointing to a lower open. In pre-market trading AAPL is +2.61, NFLX + 2.31, GOOG +4.34and BIDU +1.45.

Bonds are lower and TLT is down 1.12 in pre-market trading.

The Euro is up 145 pips in overnight trading and bouncing off recent lows.

SPY is is up 72 cents and XLF is up 13 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.

Futures are moving higher towards the recent 1,105 resistance level which is consistant with the sideways trading range of the past three weeks. Watch Friday's close at 1,091 and Thursday's S1 at 1,073 as key short term support levels. Friday's action did stay above Thursday's S1 and did move slightly higher so the probability of bounce continuation towards the 1,105 resistance did occur as we indicated in our Friday BMO post.  Be prepared for a potential resistance breakout today, although leading stocks likely will go higher even if the SPX does not break out of recent 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.

Trading Down: FAZ
Trading Up: AAPL, NFLX, SWK, PCLN, BUCY, ICE, DECK, WLT, POT, FCX, X, GS, CLF, SNDK, CAT, CRM, CMG, DE, CSTR, URE, WHR, BA, CREE, FAS, LVS, V, USO, V, UNP, TSL, AKS, MOS, DOW, WFC, SPG, UNG, WMT, MCD, BA, BIDU

SPX
Support = 1,081, 1,071, 1,060
Resistance = 1,105, 1,124

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

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 –