Wednesday, June 29, 2011

Futures Point to a Higher Open...XLF Up Strong...

BMO – ES +5.00 and NQ +7.00 futures are higher 20 minutes before the open in pre-market trading and point to a higher open on Wednesday…volume is moderate for pre-market with more stocks quoting up than down…Financial stocks, XLF is quoting up 21 cents on 460,800 volume in pre-market…

BAC is gapping up and may be an indication that financials are ready to move up…

TLT is up 12 cents and the Euro is up 40 pips in premarket trading …

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

Dave’s Insight for Wednesday:  Stay with your support bounce and breakout trades according to your rules…take entries as they occur…enjoy quarter ending window dressing…follow your rules, take trades accordingly … Continue to watch XLF as a key factor for support bounce continuation

SPX
Resistance: 1,300, 1,310, 1,321
Support: 1,288, 1,278, 1,267

Quoting DownFAZ, HLF, WTW, ARUN, CHL, EXPD

Quoting UpSINA, CMG, SOHU, CF, FFIV, MOS, POT, AGU, X, WLT, DECK, UCO, GS, DE, SLB, ATI, FAS, VMW, CRM, SWKS, FCX, HAS, RVBD JNPR, CLF, LVS, MCP, UNP, ANR, SWK, PCX, SLW, ZAGG, AKS, BAC, TSL, SNDK, CDE, IAG, CROX, SWN, DHR, PCLN, GOOG, NFLX, WYNN, BIDU, JOYG, AAPL, CTSH, FFIV, DTV, ILMN, GILD, VOD, AMZN, QCOM, BRCM

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