BMO – ES +6.25 and NQ +5.25 futures are higher about 60 minutes before the open in pre-market trading and point to a higher 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 10 cents on 310,100 volume in pre-market…
TLT is down 34 cents and the Euro is up 24 pips in premarket trading…
NDX leaders AAPL, AMZN, BIDU and GOOG are quoting higher while NFLX, PCLN and QCOM are lower in pre-market trading…
MHS +20.92% is gapping up while FFIV, WDC and STX are gapping lower…INTC is also lower…
Dave’s Insight for Thursday: Financials were strong on Wednesday and are strong in today’s pre-market…this indicates a non-reversal for now…We are starting to see selectivity in the price action up and down after earnings…Follow your rules for entries…Trade the chart after earnings are out according to your rules…Watch XLF as a key factor for to confirm this morning’s support bounce…
SPX
Resistance: 1,321, 1,330, 1,344
Support: 1,310, 1300, 1,288
Quoting Down – FFIV, PCLN, STX, SOHU, WDC, VMW, FAZ, TLT, SLW, JNPR, ACN, ESI, QCOM, XLNX, CTXS, APOL, INTC
1 comment:
Hi Dave, loved meeting you in St Louis. Much appreciate your postings. Just wanted some clarification on "Financials were strong on Wednesday and are strong in today’s pre-market…this indicates a non-reversal for now…". By "non-reversal", do you mean a favorable probability of continuation of the short-term uptrend?
Thanks much,
Mike Winter
Post a Comment