Bull Flags Bouncing in Pre-Market...Futures Point to Higher Open...

BMO – ES +7.25 and NQ +9.25 futures are higher about 30 minutes before the open in pre-market trading and point to a higher open on Tuesday… volume is light for pre-market with more stocks quoting up than down…Financial stocks, XLF is quoting up 10 cents on 151,400 volume in pre-market…

RVBD +1.00 our real time bearish virtual trade from Monday night’s live trading room IF it traded below 35.55 is quoting up in pre-market at 36.52…we will NOT enter this trade unless prices turn down and begin to break support.

Watch for these bull flag support bounce entries that we have listed the past two trading days, see some of their charts in our Friday and Monday post…

Bull Flag Setups for Tuesday: TIF, COH, CY, FFIV, VECO, GMCR, KKD, CMG, CF, IFNA, CRM, V, MA GES, NVDA, POT, AGU, CHL, HLF, HUM, CROX, WTW, OTEX, NFLX

INFY +1.24 the only NDX 100 stock to move and close above its 30 DMA on Monday is trading up in pre-market

TLT is down 16 cents and the Euro is up 85 pips in premarket trading …

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

Dave’s Insight for Tuesday:  The SPX closed at its 1,286 support level and below the lower end of its diagonal price channel of the past five weeks is bouncing in pre-market trading…On Friday the chart suggested a support bounce this week, but broke support on Monday…is the support bounce just a day late…watch for that one to three day support bounce back into the channel that I spoke about on Friday…Continue to follow your rules…Watch XLF as a key factor whether the bounce continues or a reversal occurs…Manage your trades based on the price action you see on the chart you are trading…

SPX

Resistance: 1,300, 1,310, 1,321

Support: 1,288, 1,278, 1,267

Quoting Down – CLF, FAZ, NTES, UCO, GMCR, ACN, CTXS, CA, ADSK, JOYG

Quoting Up – SINA, TIF,, CF, WLT, MCP, CMG, RVBD, GS, SWKS, SNDK, CAT, SOHU, COH, JNPR, FAS, AGU, DE, MOS, FCX, X, WDC, SLW, TSL, HUM, POT, LVS, PCX, ANF, NFLX, GOOG, WYNN, INFY, SNDK, AAPL, EXPE, AMZN, GILD, XLNX, WCRX, QCOM, EXPD, CHKP, VOD, TEVA