Thursday, June 17, 2010

Futures Pointing to a Higher Open...FSLR, NFLX, CREE on the Rise in Pre-market...

If you have not yet read Wednesday night's post and sent me an email please a take a moment to do so...

BMO – ES +5.00 and NQ +9.25 futures are higher in pre-market trading pointing to a higher open. In pre-market trading AAPL is +1.96, GOOG +0.00, BIDU +1.04, NFLX +2.13.


Bonds are flat and TLT is down 7 cents in pre-market trading.

The Euro is up 67 pips in overnight trading and above its 30 DMA.

SPY is is up 44 cents and XLF is up 6 cents in pre-market trading. Watch XLF as a key to any sustained move in the SPX.

Futures are moving higher after Wednesday's successful test of the SPX 1,105 breakout on Tuesday. Next short term resistance is at

If the breakout holds and that probability increased with Wednesday's successful test, the new chart target is 1,170 in approximately four weeks.

VIX again closed just above 25 on Wednesday. If this breakout is going to continue look for a drop below 25 in the VIX and a close below that level is our confirmation of this breakout.

If the breakout holds, the pull back testing the breakout is an entry opportunity is what I told you yesterday morning, take advantage according to your rules.

Trading Down: FAZ

Trading Up: CREE, NFLX, WLT, CSTR, CRUS, GS, CMG, TSL, CLF, BYI, SNDK, FAS, MCD, HAS, LVS, CRM, AGU, CAT, SPG, HANS, UNG, X, AAPL, BIDU, FSLR, WYNN, GOOG, RYAAY, JOYG, NVDA, CTSH, XLNX, RIMM

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.

SPX
Support = 1,105, 1,081, 1,071
Resistance = 1,124, 1,145

At the Open on Thursday
SPY –
QQQQ -
FAS -
TLT
HSY –
UNG –

BIDU -
SNDK - breakout
DECK - breakout
CMG - breakout
BIDU -
ILMN –
UAUA - breakout
CAL – breakout
GOOG –

NFLX – flag bounce
AKAM -
DTV -
VMW –
CRM – flag
ALK -
AAPL –
ORLY –
AAP -
SWN –
AZO -
LVS –
ICE –
CSTR -

AKS
X – counter trend at support
PCLN – reversal
CLF – potential double bottom breakout
DOW –
BBY –
MA -
V –
CAT –
PCP –
UNP –
FCX –
GMCR – reversal
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3 comments:

Barbara Rubin said...

Dave, I am following the leader...stocks, that is, and am doing better than the market, following my rules, gaining more confidence, and tuning out the noise. I ask myself "what would Dave do?" and then pause and ask myself again "now, what will I do according to my rules"? I am learning from the best. Thank you Dave for everything you do. I read your posts faithfully, and it is part of my daily routine.

June 17, 2010 at 8:40 AM
Unknown said...

Dave,

My wife Pat and I read your chart signals daily and listen to you regularly. You are a gifted teacher and we have learned much from you.

Yes, I read bullish signals and good entries in the following stocks in which I have acquired long positions, mostly last week:
recent rise*
SNDK 20.5%
NFLX 16.8%
CREE 15.3%
AKAM 14.2%
BIDU 13.7%
CMG 13.5%
AAPL 10.3%
SBUX 10.1%
VMW 9.3%
DBL 9.2%
SAM 9.1%
*Computations made after market close on 06/16/10.

I also took small call positions in AKAM< AAPL and SNDK.

Thanks so very much for your good help.

Joe Carl

June 17, 2010 at 2:27 PM
Anonymous said...

Thank You, Dave,
My "Ah-ha Moment" for today (having them everyday recently, for some reason) is trade strong, up-trending stocks on this recent bounce, i.e. NFLX recent percentage gain of 19% vs SPX of 6%.
It just amazes me that I can hear you say that everyday for 9 months & listening to last night's AIT, "I get it"!!!
So, of the many things that I'm grateful to you for, is you repeating things (what must seem like to you, for the "bazillionth" time) over & over until I "get it"!
Thank you! ...it just takes time.
Scott L of Nashville

June 18, 2010 at 4:47 AM

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