Futures Point to a Higher Open...Bin Laden Dead...

Dave will be traveling today to teach an AT Workshop in Newark, NJ on Tuesday and Wednesday…See you there…


9:44 am EDT - our SPY real time virtual trade hit target and filled at 9:31:00 EDT for 2.85 a contract...for a gain of 1.55 or 119% or a total gain of $7,750.

BMO – ES +7.50 and NQ +11.50 futures are higher about 30 minutes before the open in pre-market trading and point to a higher open… volume is moderate for pre-market with more stocks quoting up than down…Financial stocks, XLF is up 8 cents in pre-market…

Key Earnings this week:
Monday – ADP
Tuesday – CEPH, CMCSA, FSLR, MYL, HSIC, VRTX
Wednesday – ERTS, EXPD, GRMN, NWSA, BMC, WFMI
Thursday – DTV, PCLN, MCHP
Friday – WCRX

TLT is down 53 cents and the Euro is up 22 pips in premarket trading…

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

Dave’s Insight for Monday: Continue to follow your rules…Stay with the trend… Remember horizontal breakouts often pull back to their and test their breakout…Earnings will influence trading LESS this week…Continue to watch XLF for support of the SPX breakout of horizontal resistance…Manage your trades based on the price action you see on the charts…

SPX
Resistance: 1,367, 1,384
Support: 1,352, 1,344, 1,330

Quoting Down – SLW, UCO, CDE, TLT, FAZ, IAG, WFMI, AMAT, AAPL, BIIB

Quoting Up – NFLX, PCLN, CEPH, TEVA, SINA, PCX, CAT, GS, CLF, CRM, DHR, SOHU, NETL, CMG, ANF, MCP, SNDK, CIEN, AGU, UAL, TIF, LVS, MOS, SWKS, KDSU, IL, FAS, ZION, TSL, NVDA, GMCR,POT, GLW, MICC, BIDU, WYNN, GOOG, AMZN, BBBY, SNDK, JOYG, VRSN, ALTR, AMGN, ADBE, CTSH, QCOM, RIMM, NVDA