BMO – ES +6.25 and NQ +12.00 futures are higher about 45 minutes before the open in pre-market trading and point to slightly higher open…There are more stocks quoting up and the volume is moderate…AA is quoting slightly lower after strong earnings and guidance…watch for a potential reversal off this early sell off…Other material stocks like WLT, FCX, CLF, MCP and POT are higher in pre-market trading…NVDA continues its strong uptrend…
TLT is down 40 cents and the Euro is up 24 pips in premarket trading…this could mean higher prices on commodities gold, oil, etc…Financials XLF are higher in pre-market trading…
NDX leaders AAPL, AMZN, BIDU, GOOG, NFLX and PCLN are higher in pre-market trading…
Dave’s Insight for Tuesday: The short term trend is in consolidation and looks prepared to bounce off support and move towards short term resistance, follow your rules on entries while continuing to manage existing bullish trades by moving stops according to your rules to protect profits.
Setup Charts to Watch
Bull Flag Setups –CF, WLT, BAC, WFC, POT, V, CAT, TBT, XLF, FAS, STI, GS, SLB, CLF, SWK, WHR, UNG, C, DHR, JEC, ZION, NDAQ, URE, FLS, ATI, DECK, NYX, AGU, AIV, MOS, AKS, X
Horizontal Breakout –DE, TSL, HSY, SINA, NTAP
MACD Divergence – CMG, CREE, CAKE, CSTR, AKAM
Bear Flag Setups –ACN, SKX
SPX
Resistance: 1,281, 1300
Support: 1,256, 1,241, 1,220
Quoting Down – CAKE, GME, AMD, INFY, MICC, FSLR, CERN, MXIM
Quoting Up – WLT, ESI, FCX, VECO, UNP, SHLD, APOL, PCLN, AAPL, FFIV, VRTX, GOOG, GS, CLF, MCP, MA, POT, VMW, FAS, AGU, SLB, CAT, LVS, X, PCX, CHL, SOHU, CRUS, FDX, ARUN, V, DE, SNDK, CRM, ICE, CAM, NTES, TS, MOS, MCD, JOYG, AMZN, BIDU,AKAM, WYNN, RIMM, NVDA, CELG, TEVA, NTAP, NFLX
4 comments:
It will be interesting to see how Big Money responds to the AA earnings and guidance.
Thanks Dave.
B.Hesker
Thank you Dave,
Wonderful commentary before the open.
Michael V.
Dave, there are sooo many, many valuable pieces of info in Chart Signals, that I hate to single-out any one or two items. But my two, current "favorites" are 1)"Earnings Alerts" & 2) "Set up Charts to Watch".
Thank you for All that You Do for Your Students!
Scott L of Nashville
Good night DAVE! Just going over your daily post and wondering what happeb come tomorrow. Trying to use the DAVE X-Ray vision, but just don't seem to have it yet. Everything looked pretty good today, except for the biggies, AAPL, AMZN, NFLX, PCLN, GOOG, BIDU. Wondering what Dave would say. I am watching for the SPX 1281 tgt. I wonder if something exciting will happen at that resistance level. Well, I've got my stops in place. Looking forward to another exciting trading day! Thanks for all you do. Judy
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