Friday, March 4, 2011

Unemployment Drops to 8.9%...Futures Point to a Flat to Slightly Lower Open...

BMO – ES -1.75 and NQ -3.00 futures are flat to slightly lower about 20 minutes before the open in pre-market trading and point to a flat to lower open…Unemployment rate drops to 8.9%, its lowest level since April 2009…

TLT is down 27 cents and the Euro is up 7 pips in premarket trading and is above horizontal resistance

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

Dave’s Insight for Friday: Continue to follow your rules, look for breakout, support bounce or bullish divergence entries and enter when you see the signal…this is the end of week nine so it is time to evalute your YTD resutls and compare with the market and your 2011 goal again...

SPX
Resistance: 1,311, 1,321, 1,330
Support: 1,300, 1,281, 1,271

Quoting DownGS, MRVL, CMG, GMCR, WLT, LVS, TLT, V, SINA, PCLN, KLAC, RIMM, AMZN, AMGN

Quoting Up – CRM, DLTR, GOOG, AAPL, UCO, DE, SLW, SWKS, IPI, CAT, A, DECK, TBT, VMW, JNPR, MCP, CHL, FCX, ISRG, PCAR, BIDU, WFMI, VRTX, ALTR

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