Futures Point to a Lower Open...

Dave is in town this week and will be doing his regular Trading Rooms:

9 pm EDT Monday - Advanced Technicals Trading Room
9:30 am EDT Thursday - Intro to Trading Stocks Trading Room
7 pm EDT Thursday - Advanced Technicals Trading Room (formerly Active Investor Talk)



BMO – ES -4.50 and NQ -4.50 futures are lower about 20 minutes before the open in pre-market trading and point to a lower open… volume is low for pre-market with a more stocks quoting down than up…Financial stocks, XLF is quoting down -7 cents on 7,900 volume in pre-market…

TLT is down -23 cents and the Euro is up 57 pips in premarket trading…

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

NYX -4.14 is lower on heavy pre-market volume on DOJ suit news...

Dave’s Insight for Monday:  The SPX is in a triangle or channel type consolidation…Trade the breakout on either side of the present consolidation…Watch the SPX price to see if it stays above its 30 DMA or breaks below…Many stocks are consolidating and others have already broken support and are headed lower…Continue to follow your rules…Stay with the trend… 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…

SPX

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

Support: 1,330, 1321, 1,310

Quoting Down – NYX, PCLN, GOOG, VRTX, AMZN, BIDU, SRCL, ESRX, BIIB, AAPL, SINA, ATW, VMW, SOHU, MCP, A, NDAQ, V, SLW, CAM, MOS, GS, CHL, PCX, HLF, FAS, NFLX, FFIV, RIMM, ALXN, CTRP, EBAY, ORCL

Quoting Up – ICE, IL, SNDK, DECK, IPI, ACN, ATI, JEC, FAZ, JNPR, CLF, WYNN, JOYG, WFMI, QCOM