Rejection at Resistance Gap Down...Part Deaux...

BMO – ES -17.50 and NQ -31.25 futures are lower about 90 minutes before the open in pre-market trading and point to a lower open on Monday…volume is light for pre-market with many more stocks quoting down than down…Financial stocks, XLF is quoting down 23 cents on just 11,400 volume in pre-market…

Asian markets were down after economic concerns in the U.S. and inflation concerns in China…Apparently U.S. government debt talks are creating concerns Monday morning…

Focus on the charts you are trading and your rules…do what they show you to do according to your rules…

TLT is up 63 cents and the Euro is down 157 pips in premarket trading…

NDX leaders AAPL, AMZN, BIDU, GOOG, NFLX, PCLN and QCOM are quoting lower in pre-market trading…

Earnings season starts today with Alcoa AA after the close…look for economic insight from management’s comments…

Dave’s Insight for Monday: As we stated Friday gaps often retrace some of the gap during beginning typically during the first 60 minutes of trading…the gap did partially retrace on Friday…Follow your for exits and stops…If you take bearish entries in an intermediate sideways trend, follow your entry rules…Watch XLF as a key factor for to see if buyers step in…

SPX
Resistance: 1,359, 1,370
Support: 1,344, 1,330, 1,321

Quoting Down – CMG, SINA, CRM, VMW, CAT, CLF, MOS, GS, DE, CF, UCO, V, SLB, FCX, FFIV, FAS, POT, X, GMCR, ACN, MCP, LVS, HAS, CREE, ATI, DOW, TBT, CAM, SNDK, CY, ANF, CDE, JNPR, WTW, SMH, PCX, A, HLF, COH, ESI, WLT, GOOG, AAPL, PCLN, BIDU, AMZN, NFLX, WYNN, INFY, ISRG, APOL, FFIV, XLNX, GMCR, ALXN, TEVA, FSLR, CTSH, VMED, VOD, DLTR, QGEN, QCOM ORCL, SBUX, AMGN, BMC, CERN, SHLD, NWSA, RIMM, CHRW, MSFT

Quoting Up – FAZ, TLT, ANR, CROX, ALTR, VRTX, LRCX, INTU, HSIC, WFM, MAT, KLAC, BRCM