Wednesday, February 23, 2011

Futures Point to a Flat Open...More Stocks Up Than Down...

BMO – ES -1.25 and NQ +1.00 futures are mixed about 15 minutes before the open in pre-market trading and point to a flat open…More stocks are trading up than down in pre-market trading...Is Tuesday like January 28, another one day sell off?

TLT is up 21 cents and the Euro is up 62 pips in premarket trading and is still above old horizontal resistance, now new support in the 1.3450 area

HLF +4.90, +7.02% is gapping up in pre-market trading following earnings…VRTX +5.78, +15.12% after Phase 3 drug results…

NDX leaders AAPL, AMZN, BIDU, GOOG and PCLN are higher in pre-market trading…NFLX is lower…

Dave’s Insight for Wednesday: The trend is still up, even after Tuesday’s sell off.  If you exited trades last week or on Tuesday according to your rules you should now look for re-entry according to your rules.  Look for the next setup…

SPX
Resistance: 1,321, 1,330, 1,338
Support: 1,311, 1,300, 1,281

Quoting DownNFLX, GRMN, DLTR, ICE, AGU, VMW, V, FWLT, NYX, CELG, CTSH, SHLD, ROST, NTAP

Quoting UpHLF, VRTX,  PCLN, DTV, NETL, CMG, MCP, CLF, WLT, RVBD, SLW, DE, SINA, CF, CAT, UCO, XL, VECO, TSL, SNDK, URE, AKS, SLB, CSTR, CREE, PCX, CIEN, AAPL, MICC, BIDU, SNDK, ESRX, RIMM, AMZN, MCHP, INFY, GILD, PAYX, MAT, APOL, ALTR, ADVE, WYNN


No comments: