Futures, Stocks Point to a Lower Open as People Eat More Donuts...KKD Up...

BMO – ES -11.75 and NQ -23.00 futures are down about 30 minutes before the open in pre-market trading and point to a lower open on Monday… volume is moderate for pre-market with more stocks quoting down than up…Financial stocks, XLF is quoting down 15 cents on 76,800 volume in pre-market…European markets were lower over-night as new debt concerns in Italy and Spain arise…the Dollar is higher and the Euro lower…

As mentioned in Friday’s post, we look for the selloff to move to the lower end of the SPX price channel this week…Many stocks are likely to give short term bullish exit signals and short term bearish entry signals today following the SPY and other stocks that gave signals on Friday...

TLT is up 43 cents and the Euro is down 128 pips in premarket trading…

Apparently people are eating more donuts and KKD +0.79 reported earnings better than expectations…

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

Dave’s Insight for Monday:  Continue to follow your rules…XLF is weak and looks to support the selloff that is taking place pre-market …Gap lower opens sometimes bounce during the first hour…if a bounce does occur and fails to fill the gap look for selling to resume…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 below that in pre-market trading…

SPX

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

Support: 1,330, 1321, 1,310

Quoting Down – CMG, SINA, UCO, WLT, CAT, CRM, MCP, DECK, SWN, CLF, AGU,UNP, VMW, SLB, DE, DOHU, ATW, GS, HAS, FWLT, POT, ARUN, URE, NAR, ANF, RVBD, NYX, CF,DLR, SNDK, V, CHL, FAS, VECO, JDSU, CREE, SWKS, GMCR, LVS, SWK, TSL, CIEN, PCX, SLW, JNPR, DOW, AAPL, AMZN, BIDU, GOOG, NFLX, PCLN, QCOM, ISRG, WYNN, JOYG, FSLR, FFIV, NTAP, COST, MICC, CTSH, BIIB, XLNX

Quoting Up – FAZ, ACN, TLT, TIF