Let's Try Again...Futures Point to a Higher Open...

BMO – ES +9.50 and NQ +10.25 futures are higher in pre-market trading pointing to a higher open. In pre-market trading AAPL is +1.00, GOOG +4.98, BIDU +2.10.


Bonds are flat and TLT is up 2 cents in pre-market trading.

The Euro is up 53 pips in overnight trading and bouncing off recent lows.

SPY is is up 96 cents and XLF is up 19 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.

Futures are going to try again as they usually do at support bottoms to bounce. MACD and oscillator divergences are still on the charts, a large number of hammers and other bullish candles are on the chart Tuesday, some which confirmed on Wednesday and some did not. Many flag patterns on up trending stocks are still in place. Like a toddler learning to walk, Wednesday stumbled a little, so we'll give the market a second chance on Thursday.

Oh, by the way many of Wednesday's failed confirmations formed candles like inverted hammers, or other candles that while non-confirmation did make a higher high and higher low, usually a bullish sign.

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

Continue to look to leading stocks like in our list below and HAS, HLF, OSTK and WFMI

Continue to Follow Your Rules.

Trading Down: FAZ
Trading Up: NFLX, DECK, PCLN, BUCY, SNDK, FCX, CLF, POT, CSTR, X, CAT, WHR, ICE, UNP, USO, GS, FAS, BA, AGU, DOW, CHL, AKS, BAC, BYI, WFC, LVS

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.

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

SPX
Support = 1,060, 1,044, 1,030
Resistance = 1,071, 1081

At the Open on Thursday
SPY – bullish harami
QQQQ - hammer
FAS - hammer
TLT
HSY – breakout
UNG – bearish harami

BIDU - hammer
SNDK - hammer
DECK - hammer
CMG - hammer
BIDU - 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 –