Futures Point to a Higher Open Following Wednesday's Support Bounce...

BMO – ES +3.50 and NQ +3.25 futures are slightly higher about 90 minutes before the open in pre-market trading and point to a higher open… volume is light for pre-market with more stocks quoting up than down…Financial stocks, XLF which formed a white candle on Wednesday is quoting up 1 cent on 900 volume in pre-market…

TLT is down 12 cents and the Euro is up 13 pips in premarket trading…

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

Dave’s Insight for Thursday:  The SPX confirmed Tuesday’s hammer on Wednesday forming a large white candle and a morning star pattern…the SPX looks poised to continue its bounce this morning…Many stocks produced potential entry signals and an upward momentum shift on Wednesday…Continue to follow your rules…Continue to watch XLF for support of a SPX bounce…Manage your trades based on the price action you see on the chart you are trading…Horizontal support on SPY is 133 and it is above that in pre-market trading…

SPX

Resistance: 1,344, 1,352, 1,367

Support: 1,330, 1321, 1,310

Quoting Down – PCLN, KLAC, HUM, NTES, MHS, SMH, ICE, MOS, WYNN, CELG, ORLY, DTV, INTC, QCOM, VRSN, ADSK, AMAT, GILD

Quoting Up – MCP, ROST, DLTR, CRM, JNPR, CAT, UCO, UNP, RVBD, ANF, URE, VMW, CREE, SWKS, TIF, GS, POT, FCX, X, AAPL, LRCX, AMZN, NFLX, BIDU, FSLR, RIMM, ISRG, VOD, CTSH