Futures Point to a Higher Open Following AAPL Earnings...

Dave is traveling today...

BMO – ES +7.00 and NQ +17.25 futures are higher in pre-market trading pointing to a higher open. In pre-market trading AAPL is +10.38, GOOG +2.57, BIDU +0.91, NFLX +1.96, GS +0.99 and BP +1.40.


Stocks are mostly higher on good volume in pre-market trading this morning after the SPX formed a bullish engulfing. Our Yellow Alert turned Green on Tuesday. Trade the bounce.

After Tuesday's reversal action it seems that good earnings with missed revenues are bouncing back after an initial sell off as in GS. AAPL earnings look to lead the market higher. The key here is the higher low reversal formation in the SPX and many individual stocks with strong confirmation from a VIX below 25.

Trade entry signals on a break above the high of the low day and close bearish trades that are reversing to the upside according to your rules.

Earnings of interest of leading companies include:
Wednesday – ALGT, AMR, AMLN, BIDU, CA, CHKP, KO, EBAY, FFIV, FCX, GENZ, NFLX, QCOM, SWK, SBUX, LCC, UTX, WFC, WDC, XLNX
Thursday – MMM, ALK, AMZN, AMX, AXP, T, BUCY, CAT, CMG, CAL, DHR, DECK, FLEX, FLIR, HSY, ESI, KEY, MHS, MSFT, MOS, NUE, PNC, PCP, SNDK, SIAL, STI, TRV, UNP, UPS
Friday – DLR, F, HON, MCD, OSTK, SLB, SKX, VZ

SPX
Support = 1,071, 1,056, 1,044
Resistance = 1,086, 1,100, 1,121

Bonds are lower and TLT is down 13 cents in pre-market trading.

The Euro is down 82 pips in overnight trading and above its 10 and 30 DMA.

SPY is up 73 cents and XLF is up 28 cents in pre-market trading . Watch XLF as a key to any sustained move in the SPX.

Continue to look for support bounce entry opportunities based on chart action.

Trading Down: FAZ

Trading Up: VMW, FCX, SWK, NFLX, CLF, PNC, WLT, X, GS, HSY, FAS, SNDK, GS, BUCY, PCP, CMG, AGU, CRUS, URE, POT, CRM, STI, CAT, V, DECK, MOS, ZION, AKS, DE, USO, CSTR, UAUA, TSL, WMT, WHR, BA, BAC, LVS

The short term 3 day trend is neutral and could shift to up today. The intermediate term two month 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 –
CRUS –
BRCM -
BIDU –
AKAM –
NTAP – bullish engulfing
ILMN –
NFLX – bullish engulfing
FFIV – bull flag bullish engulfing
PCLN – pennant bullish engulfing
VMW – bull flag hammer
SKX –
AZO – bullish engulfing

HSY –
DLR -
CRM –
TIE –
UCO -
AAP –
SWN –
BA –
CAT –

VECO – bullish engulfing ascending triangle
NETL – hammer
LVS – bullish engulfing
ALK –
UAUA -
CAL –
ORLY –
CSTR – higher low
NYX –
GMCR –
CREE - bullish engulfing

AKS - bullish engulfing higher low
X – bullish engulfing higher low
SNDK –
DECK – bullish engulfing
CMG – piercing line
DOW –
BBY – bullish engulfing
GOOG
MA – bullish engulfing
V – bullish engulfing
PCP – bullish engulfing
UNP – bullish engulfing
FCX – higher low