BMO – ES +6.00 and NQ +8.00 futures are higher about 20 minutes before the open in pre-market trading and point to a higher open… volume is light for pre-market and more stocks are quoting up than down in pre-market trading…Financial stocks, XLF is up 7 cents in pre-market…
TLT is down 42 cents and the Euro is breaking out to a new high and up 136 pips in premarket trading…
NDX leaders AAPL, AMZN, BIDU, GOOG, NFLX, PCLN and QCOM are higher in pre-market trading...
Dave’s Insight for Friday: Continue to follow your rules…Stay with the trend… The short term trend is still up…with financial stocks higher and earnings season ready to start on Monday the SPX may move towards its yearly high of 1,344 and still has the potential to break out if financial stocks move higher throughout the day…Stay with stocks in an up trend…
As always stay prepared for either a potential pullback or breakout…
SPX
Resistance: 1,330, 1,344
Support: 1,321, 1,311, 1,300
Quoting Down – ISRG, CTRP, NTAP, COST, INFY, ANF, FAZ, TLT, LVS, CSTR
1 comment:
Dear Dave,
Testimonial Alert: EXPE: entered $20 Apr 11 call on 3/7 for $1.50 following MACD bullish divergence (after gap down of 2/11). Rolled to $21 May 11 call on 3/25. Today, 4/8, stock gapped up to target price (using Leo Fib and filling the gap of 2/11. Exited on conditional order based on stock price target of $23.94. The stock gapped above that at the open and my 7 contracts were exited at $4.60option price. The bad news: my technique was half-assed. I need Dave to smooth it out and help me look forward to similar set ups and how to manage them. Did I mention I am already paid up for the 4 day live? Will that get me your direct extension eventually?
Best,
Steven R.
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