Futures Point to a Higher Open Following Strong Guidance from INTC...

BMO – ES +3.75 and NQ +16.00 futures are mixed in pre-market trading pointing to a flat open. In pre-market trading AAPL is +0.95, GOOG +5.50, BIDU +1.39, NFLX +1.21.

Stocks are higher on light volume in early pre-market trading this morning after a strong earnings report and guidance from INTC after the close on Tuesday.

Earnings season's first two days:
FAST reports 47 cents vs 44 cents est.

INTC reports 51 cents vs 43 cents est.
AA reports 13 cents vs 12 cents estimate
CSX reports 1.07 vs 98 cents estimate
NVLS reports 66 cents vs 60 cents estimate

Earnings of interest of leading companies include:Wednesday – CTAS, MAR
Thursday – AMD, AMX GOOG, JBHT, JPM
Friday – BAC, C, GE

SPX
Support = 1,086, 1,071, 1,056,
Resistance = 1,100, 1,110

July options expire on Friday.

Bonds are down and TLT is down 35 cents in pre-market trading.

The Euro is down 26 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 up 23 cents and XLF is up 5 cents in pre-market trading . Watch XLF as a key to any sustained move in the SPX.

Continue to look for entry opportunities based on chart action.

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.

The VIX rose slightly on Tuesday, even though the SPX had a strong trend day on Tuesday.  This was an intriguing non-confirmation even though the VIX did close below just below 25 for the third straight day.  Watch the VIX level on Wednesday to see if it stays below the 25 level.

Trading Down: USO

Trading Up: USD, CRM, MA, PCLN, NFLX, FLS, CREE, SNDK, VMW, HSY, A, BUCY, DECK, X, PNC, CLF, WLT, ESI, FCX, UNP, URE, CAT, FFIV, AKS, AMD, MOS, AGU, ATI,  VI, DOW
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 Wednesday
SPY –
QQQQ -
FAS -
TLT –

AAPL – in triangle
CRUS – near resistance
BRCM - breakout
BIDU – support bounce
AKAM – flag
SNDK –
NTAP - flag
ILMN – near resistance
NFLX – near resistance
FFIV – breakout
DECK – stock split
CMG – flag
VMW – near resistance
SKX –
AZO –
LVS –
HSY – near resistance
DLR - near resistance
CRM – near resistance
TIE – near resistance
UCO -

AAP – breakout
BA – bounce
CAT – near resistance

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

AKS
X –
PCLN – breakout target 225
CLF – bear flag
DOW –
BBY –
GOOG
MA -
V –
PCP –
UNP –
FCX –
ICE – bear flag
SWN