Futures Point to a Lower Open...HAS Up Almost 5 Points...

BMO – ES -8.25 and NQ -16.50 futures are lower in pre-market trading pointing to a lower open in front of the durable goods and jobless claims report due out at 8:30 am ET. In pre-market trading AAPL is -1.15, GOOG -2.53, BIDU -1.07, NFLX +0.23.


HAS is up +4.68 in pre-market trading on buyout report.

Bonds are higher and TLT is up 46 cents in pre-market trading.

The Euro is down 44 pips in overnight trading and at the support of its 10 and 30 DMA.

SPY is is down 85 cents and XLF is down 8 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.


Short term resistance is at 1,103 to 1,105. Short term support is at Wednesday's low and 50% Fib level of 1,085 and horizontal support at 1,081.


Trader's should be prepared for bounce or support break 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 is a pull back in a short term trend in and 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 pulled back while BRCM and NTRI were up and stronger than the market on Wednesday.

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 32...YES...32 terrific looking bull flag setups... Bull Flag pull back day 3 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 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 Thursday.

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

Trading Down: BUCY, CLF, GS, CAT, CRM, POT, V, FCX, X, WLT, ATI, FAS, DE, LVS, SNDK, UAUA, URE, TSL, AKS, CRUS, NYX

Trading Up: HAS, FAZ

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 = 1,081, 1,071
Resistance = 1,094, 1,105, 1,119, 1,130, 1,148

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

AAPL – new high close
CRUS –
BRCM -
BIDU – 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
NYX – reversal breakout
GMCR – reversal breakout
BA – reversal breakout
CAT – reversal breakout
VECO – reversal breakout
CREE – reversal breakout

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