Futures Point to a Lower Open...WFMI, JDSU, BMC Gap Up...

BMO – ES -9.00 and NQ -14.50 futures are lower about 20 minutes before the open in pre-market trading and point to a lower open… volume is moderate for pre-market with many more stocks quoting down than up…Financial stocks, XLF is quoting down 12 cents in pre-market…

JDSU, WFMI, BMC are gapping up this morning following earnings…

Key Earnings this week:

Wednesday – BMC, ERTS, EXPD, GRMN, NWSA, BMC, WFMI, JDSU

Thursday – DTV, PCLN, MCHP

Friday – WCRX

TLT is up 40 cents and the Euro is down 128 pips in premarket trading…

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

Dave’s Insight for Thursday:  Continue to follow your rules…Stay with the trend…Many traders may have exited or hedged short term bullish trades or entered counter trend trades over the last two days…If so, look for re-entry when downward momentum ends and buying pressure begins to push price back in the direction of the intermediate term up trend…SPX is moving lower as XLF has lost momentum and started to pull back…Manage your trades based on the price action you see on the charts…

SPX

Resistance: 1, 352, 1,367, 1,384

Support: 1,344, 1,330, 1,321

Quoting Down – UCO, CMG, WLT, MCP, CLF, SLB, CRM, HLF, DE, CF, SOHU, AGU, GS, FCX, URE, FWLT, UNP, POT, SLW, CAM, CAT, MOS, GMCR, FAS, SINA, NTES, X, PCX, V, SWKS, VLO, HUM, TIF, CDE, IAG, ZION, NETL, TBT, PCLN, VRSN, NFLX, GOOG, AMZN, BIDU, JOYG, CTSH, WYNN, MICC, AAPL, ORLY, ALTR, FSLR, INFY, NWSA, QCOM

Quoting Up – ROST, WFMI, BMC, JSDU, FAZ, CSTR, TLT, UAL CHL, ERTS