Future Point to a Higher Open...Payroll Numbers to be Released...

BMO – ES +4.00 and NQ +6.50 futures are lower about 75 minutes before the open in pre-market trading and point to a higher open on Thursday…volume is light for pre-market with more stocks quoting up than down…Financial stocks, XLF is quoting up 5 cents on just 4,600 volume in pre-market…

European Central Bank raised rates ¼ percent to 1.5% overnight…ADP payroll numbers will be out this morning in a few minutes with a consensus estimate of 78,000 new jobs…watch for the pre-market impact…

Unemployment will be released tomorrow morning…generally an economic announcement will NOT change the intermediate term trend though it can create some one day volatility…

TLT is down 40 cents and the Euro is down 64 pips in premarket trading…

NDX leader AAPL, BIDU, GOOG and NFLX are quoting higher in pre-market trading… AMZN are PCLN are quoting near even…QCOM is quoting slightly lower…

As of Friday the SPX had moved up 72% of the distance between the support and resistance range of the past three…

Earnings season starts next Monday, July 11…

Dave’s Insight for Thursday:  Stay with the short term trend until it reaches your target or breaks short term support…the first key short term support is the S1 on Friday’s large white candle which is 133 on the SPY…Exit at your targets and move your stops up according to YOUR rules to protect your profits in case the short term trend does come to an end…Continue to follow your rules…Watch XLF as a key factor for support of this morning’s higher open…

SPX

Resistance: 1,344, 1,359, 1,370

Support: 1,330, 1,321, 1,310

Quoting Down – V, FAZ, TLT, SWK, ISRG, ILMN, SBUX, GILD

Quoting Up – CRM, SINA, CMG, WDC, SOHU, MCP, LVS, WTW, TSL, UCO, DEL, CAT, ANF, RVBD, FCX, MOS, TBT, SNDK, ESI, AGU, FAS, NFLX, GOOG, BIDU, URBN, WFM, AAPL, STX