Dave will be in Seattle with Tom Sosnoff and Don Kaufman at the TD Road Show this evening...See you there...
BMO – ES +2.25 and NQ +7.00 futures are flat to slightly higher about 70 minutes before the open in pre-market trading and point to a flat open on Thursday… volume is light for pre-market with a similar number of stocks quoting down and up…Financial stocks, XLF is quoting up 4 cents on 2,700 volume in pre-market…the May Jobs report comes on Friday…
ESI +15.89 and APOL +5.18 are gapping up in pre-market…
TLT is down 40 cents and the Euro is up 132 pips in premarket trading …
NDX leaders AAPL, AMZN, BIDU, GOOG, NFLX, and QCOM are quoting higher in pre-market trading…PCLN is quoting lower…
Dave’s Insight for Thursday: The SPX is in consolidation after a strong sell off on Wednesday….key short term support levels include the mid-section of Tuesday’s SPX candle, the 30 DMA on the broad indexes and 133.84 on the SPY were broken yesterday…1,310 is the new support on the SPX…Continue to follow your rules…Watch XLF as a key factor whether the sell off continues…Manage your trades based on the price action you see on the chart you are trading…
SPX
Resistance: 1,321, 1,330, 1,344
Support: 1,310, 1,300, 1,288
Quoting Down – WLT, ANR, HLF, CMG, URE, TLT, FAZ, PCLN, EXPD
Quoting Up – ESI, APOL, JOYG, FSLR, GOOG, NFLX, CIEN, FWLT, CAT, HAS, DE, MCP, COH, SINA, DHR, GMCR, V, GS, HUM, TBT, RVBD, AAPL, BIDU, AMZN, COST
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