BMO – ES +2.75 and NQ +8.25 futures are higher about 20 minutes before the open in pre-market trading and point to a higher open… volume is moderate for pre-market and more stocks are quoting up than down in pre-market trading…it looks as beginning of the quarter buying is continuing from Friday…
TLT is down 2 cents and the Euro is above the 1.4036 support area and down 3 pips in premarket trading…
NDX leaders AAPL, AMZN, BIDU, GOOG, NFLX and QCOM are higher in pre-market trading...…PCLN is down…
Dave’s Insight for Monday: Continue to follow your rules…Stay with the trend… The short term trend is still up…with the SPX near the resistance of its yearly high look for any signs of slowing momentum and the potential of a short term reversal…be prepared for either a potential pullback or breakout…
SPX
Resistance: 1,330, 1,344
Support: 1,321, 1,311, 1,300
Quoting Down – PCLN, CEPH, CHKP, MICC, SWN, DECK, SOHU, NUX, RVBD, FAZ, UCO, TIF
Quoting Up – MCP, CMG, SINA, CLF, AGU, ICE, WLT, SLW, POT, NFLX, WYNN, GOOG, BIDU, FCX, GS, MOS, DE, LVS, CRM, VMW, SLB, IPI, PCX, STI, IL, CAT, AAPL, JOYG, FFIV, TEVA, LRCX, QGEN, NTAP, AMZN, MCHP, GENZ, VRTX, VOD, F
2 comments:
Dave,
The SPX and NDX have both formed a dragonfly doji for the month of March. I know you follow candle formations. Any insight about this?
Dave, previously your post asked if we were interested in the correct way to trade countertrend. Did you post some rules for this?
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