Futures Point to a Higher Open...CEPH Up on Buyout Offer...

BMO – ES +6.00 and NQ +16.00 futures are higher about 50 minutes before the open in pre-market trading and point to a higher open… so far this morning volume is light and a more stocks are quoting up than down in pre-market trading…it looks as if quarter ending window dressing may be pushing the market back to recent highs…

TLT is up 12 cents and the Euro is above the 1.4036 resistance area and down 25 pips in premarket trading…

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

CEPH is up +17.29 after $73 buyout from VRX…

Dave’s Insight for Wednesday: Continue to follow your rules. The short term trend is still up…stocks are pushing higher…more stocks moved above their 30 DMA on Tuesday and pre-market trading points to a continuation of the short term up trend…

SPX
Resistance: 1,321, 1,330
Support: 1,311, 1,300, 1,288

Quoting Down – CAM, FAZ, WDC, UCO, HAS, CF, INFY, LLTC, MICC, VOD

Quoting Up – CEPH, AMZN, PCLN, CMG, SINA, MCP, VMW, CLF, MOS, SOHU, V, WLT, RVBD, SLW, GS, CAT, DECK, CRM, DE, X, TSL, NYX, POT, HLF, GMCR, FAS, CHL, FCX, CSTR, JDSU, PCX, SWN, SLB, CIEN, SMH, NVDA, SWKS, NTES, GOOG, FFIV, BIDU, NFLX, GILD, LRCX, CELG, WYNN, APOL, VRTX, AAPL, QCOM, EBAY, BRCM, CTSH, NVDA