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

BMO – ES -1.25 and NQ -3.50 futures are flat in pre-market trading pointing to a flat to lower open. In pre-market trading AAPL is -1.50, GOOG +13.83, BIDU -3.02, NFLX -1.47.
Stocks are mixed on light volume in pre-market trading this morning. GOOG is up 4% on Chinese approval to continue operating it Chinese search page.

Earnings season starts next Monday with earnings from AA after the close.

Thursday morning we told you resistance was 1,071 and the SPX closed yesterday at 1,070.25. Short term support is at 1,056 and 1,044, the S1 of Wednesday's large white candle. Short term resistance is at 1,071.


SPX
Support = 1,056, 1,044
Resistance = 1,071, 1,086

After the strong move up on Wednesday, the market did pause and rest before moving higher at the close on Thursday. Continue to watch to see if trading stays above the 1,056 and 1,044 S1 level. If trading stays above this level look for the support bounce to continue going into Earnings season next week.

Bonds are down and TLT is down 29 cents in pre-market trading.

The Euro is down 70 pips in overnight trading and above its 10 and 30 DMA. The Euro appears to have started a new up trend with a breakout of an inverse head and shoulders.

SPY is down 7 cents and XLF is down 4 cents in pre-market trading . Watch XLF as a key to any sustained move in the SPX.

Wednesday's support bounce and hammer confirmation provided a large number of entry signals...if the bounce continues today...look for more potential entry signals to occur.

Look for support bounce continuation and potential entry : FFIV, HSY, 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.

Watch the VIX level on Friday to see if it pulls back and moves below the 25 level.

Stocks are mixed with a slight downward tone on light volume in pre-market trading.

Trading Down: NFLX, FFIV, DECK, PCLN, BUCY, DLR, CREE, MOS, WLT, SKX, GS, CLF, WFMI, X, ACN

Trading Up: V, UAUA, BA, SWK, SWN, POT, CMG, FCX

The short term 3 day trend is up. The intermediate term 2month trend is down 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.

At the Open on Friday
SPY –
QQQQ -
FAS -
TLT –

AAPL – bounce
CRUS –bounce
BRCM - bounce
BIDU –
AKAM – bounce
 SNDK – bounce
NTAP - flag
ILMN – flag
NFLX – flag
FFIV – flag entry
DECK – stock split
CMG – flag
VMW – bounce entry
SKX –
AZO – flag
LVS –flag
HSY – flag entry
DLR - flag
CRM – flag
TIE – flag
UCO -
AAP – horizontal flag
SWN – flag
ICE –
BA – bounce
CAT – bounce
UNG – pull back


ALK –
UAUA -
CAL –
ORLY –
CSTR -
NETL –
NYX –
GMCR –
VECO –
CREE -

AKS
X –
PCLN –
CLF –
DOW –
BBY –
GOOG
MA -
V –
PCP –
UNP –
FCX –