BMO – ES -6.75 and NQ -7.50 futures are lower about 30 minutes before the open in pre-market trading and point to a lower open on Wednesday…volume is light for pre-market with more stocks quoting down than up…Financial stocks, XLF is quoting down 12 cents on 467,300 volume in pre-market…
Overnight, China raised lending and deposit interest rates 0.25% and Moody’s downgrades Portugal
TLT is up 50 cents and the Euro is down 100 pips in premarket trading following Portugal
NDX leader AAPL IS quoting higher in pre-market trading… AMZN, BIDU, GOOG, NLFLX, PCLN and QCOM are quoting lower…
As of Friday the SPX had moved up 72% of the distance between the support and resistance range of the past three months and made no additional gain on Tuesday…
Earnings season starts next Monday, July 11…
Dave’s Insight for Wednesday: SPY is trading pennies above Tuesday’s low and may break the low of the high day this morning…the first key short term support is the S1 on Friday’s large white candle which is 133 on the SPY and is still 40 cents plus above that in pre-market…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 weakness this morning…
SPX
Resistance: 1,344, 1,359, 1,370
Support: 1,330, 1,321, 1,310
Quoting Down – NFLX, PCLN, BIDU, AMZN, WYNN, WLT, SOHU, SINA, CRM, CMG, COH, AGU, CLF, VMW, MOS, MCP, VECO, GS, UCO, CAT, V, DE, FCX, FAS, SLB, ACN, X, POT, ANR, SNDK, TBT, GMCR, LVS, JOYG, CTSH, SRCL, APOL, GOOG, FFIV, ALXN, VOD, KLAC, CERN, RIMM, GMCR
5 comments:
To James,
Stop spamming this site. I think I speak for everyone here to let you know that this is a site inspired by someone not by money, but by a sincere selfless desire to help his students. It's inappropriate of you to take advantage of him.
James,
Dave deserves better than you spamming his site. He works hard every day to update his site and he should be the only one to advertise, if he chooses to do so. And by the way I think that the people here are too smart to fall for your scheme anyways.
James, I too, do not appreciate your advertisements & political views in this space. This is our space to communicate with our mentor. Please, take the hint.
Lois
Thanks guys...
I appreciate your comments and support...I marked the individual as spam, so I think future comments get blocked by Blogger.
DJ
Scott, Uwe, Lois...
I think the views expressed by the spammer were an excellent example of the fear peddling that many financial marketers use to scare people into subscribing. I will actually share some technical insights later in the week suggesting that big money has a radically different view of the economic opinions he postulated.
Thanks again
DJ
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