Futures Point to a Lower Open After IBM, TXN and GS Miss Revenue Expectations...

Is GS a bull flag, now that earnings have been reported?

Is XLB a support bounce, higher low, trend reversal at the 30 DMA?

9:41 am - X, AKS on the rise...support holding on AA...

9:36 am - UAUA rising after reporting adjusted $1.95 vs 1.75 est...

BMO – ES -10.00 and NQ -16.50 futures are higher in pre-market trading pointing to a lower open. In pre-market trading AAPL is +0.07, GOOG +2.27, BIDU -2.19, NFLX -0.63, GS -3.81 and BP -0.85.

Stocks are mostly lower on heavy volume in pre-market trading this morning. After IBM and TXN met or beat earnings but missed on revenue last night, GS also missed on revenue this morning and is down on heavy volume. This is after GE, BAC and C did the same last week.

This quarter seems to shaping up as the quarter with good earnings and missed revenue forecasts.

AAPL reports after the close.

Trade entry signals to the downside and stay with bearish trades moving lower.

Earnings of interest of leading companies include:

Tuesday – ALTR, AAPL, BIIB, CRUS, GILD, JNJ, LLTC, MICC, BTU, PEP, STLD, UAUA, UNH, WHR, YHOO

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 = 1,056, 1,044
Resistance = 1,071, 1,086, 1,100

Bonds are higher and TLT is up 43 cents in pre-market trading.


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

SPY is down 1.25 and XLF is down 26 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.

Watch the VIX level on Tuesday to see if it confirms the sell off by moving above Friday's high at 28.16.

Stocks are lower on heavy volume in pre-market trading.



The short term 3 day trend is down. 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 Tuesday
SPY –
QQQQ -
FAS -
TLT –

AAPL –
CRUS –
BRCM -
BIDU –
AKAM –
NTAP – near resistance
ILMN –
NFLX – hammer
FFIV – bull flag
PCLN – pennant
VMW – bull flag
SKX –
AZO – bull flag

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

VECO – support bounce
NETL – support bounce
LVS – dragonfly doji
ALK –
UAUA -
CAL –
ORLY –
CSTR – bear flag
NYX –
GMCR –
CREE -

AKS
X –
SNDK –
DECK – potential support break
CMG – broke support after bear flag
DOW –
BBY – bear flag
GOOG
MA – potential support break
V – potential support break
PCP –
UNP –
FCX – potential higher low