Futures are Mixed and Point to a Flat to Slightly Lower Open...

2:15 pm EDT - NFLX finally pulls back after forming an open gap bearish engulfing pattern on Monday...Financials XLF -0.22 are slammed again and SPY continues lower...Decliners are still leading advancers as bearish entry signals rule the day...



BMO – ES -0.75 and NQ +0.50 futures are mixed about 20 minutes before the open in pre-market trading and point to a flat to slightly lower open on Monday… volume is light for pre-market with a similar number of stocks quoting down and up…Financial stocks, XLF is quoting down 5 cents on 15,400 volume in pre-market…

TLT is down 67 cents and the Euro is down 21 pips in premarket trading …

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

Dave’s Insight for Monday:  The SPX is at its 1,300 support level and the lower end of its diagonal price channel of the past five weeks…the SPY formed an inverted hammer on Friday…The five week trend suggests a support bounce this week, but traders must stay prepared for a break of support…Continue to follow your rules…Watch XLF as a key factor whether the sell off continues or a bounce occurs…Manage your trades based on the price action you see on the chart you are trading…

SPX

Resistance: 1,310, 1,321, 1,330

Support: 1,300, 1,288, 1,278

Quoting Down – NETL, TLT, UCO, ICE, CAT, WLT, CMG, CRM, AGU, GS, FAS, LVX, DE, WYNN, NFLX, PCLN, FSLR, KLAC, MCPH, STX

Quoting Up – SINA, MCP, SOHU, TBT, FAZ, FCX, AAPL, BIDU, GOOG, INTU, JOYG, GRMN, SBUX, AMZN