Wednesday, October 13, 2010

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

ES +8.75 and NQ +16.00 futures are higher in pre-market trading pointing to a higher open following consensus beating earning from INTC and CSX...INTC also raised Q4 guidance...this guidance indicating that the economic recovery should continue to gain strength which is positive for stocks...

TLT is down 53 cents and the EURO is up 60 pips...Look for financial stocks to move higher on higher interest rates...XLF, FAS, GS, MS, ICE, ZION, RF, SPG, WFC, BAC, JPM...

SPX
Resistance: 1,170, 1,182, 1,190
Support: 1,148, 1,130, 1,115

Many more stocks are quoting up than down about 90 minutes before the open...

Pre-Market
Quoting  Down - CMG, TLT, SNDK, AGU, FAZ, MOS, HLF, TSL, NTES, CHL, LLTC, COST, MCHP

Quoting Up - PCLN, NFLX, GS, CLF, FCX, WLT, X, CRM, FAS, MCD, VECO, BUCY, CAT, DE, FFIV, GMCR, DECK, USD, VOD, VMW, TBT, V, SWN, WMT, LVS, BAC, GOOG, AAPL, BIDU, AMZN, WYNN, RYAAY, CTXS, VRTX, AKAM, CSCO, MSFT, QCOM, RIMM, INTC, DTV

4 comments:

Anonymous said...

Dave:
Just want to say thanks again for all you do.
Robert
CANI_212

Judy said...

Good morning Dave, I enjoy the charts you include in the evening post. Your support/resistance lines are helpful to me. Thanks for sharing your knowledge and views. Judy

Val said...

Dave,
I also want to say thanks, your rules and level approach helps. A couple of days ago I was looking, looking for a Bearish Trade and when I thought I found one, reread your rule (now mine). "Wait on bearish signals for a bounce down from resistance or a close below the low of the high day" It was not there so I didn't enter to trade. Yesterday and today it continued on it's treand higher. As you say, "Trade the Market, Not Your Thoughts" I know that we don't thank-you enough. Val

Unknown said...

Dave,

Thanks for the charts, particularly for the drawing analysis for the Leading stocks (e.g. VECO). They’re super helpful in training my eyes of understanding the trade signals. I am in Orlando, the two-day BO Training with Linda McCoy. She highly spoke about you to us numerous times of the day and even recommended us to watch you on Monday, Thursday, and Friday sessions. Your Advanced TA training in Aug in Orlando has been helping me make better trading decisions. Also, I had to share your this site with other classmates and my friends. Really appreciate your daily input/guidance! See you Friday at the Real Time Trade—First Annual Meeting in Orlando. And I am going to UT this Sunday for the upcoming 4-day live training with you. Can’t wait to learn from you, Dave! Thanks very much. God bless!—Jessica Min