BMO – ES +3.00 and NQ -1.75 futures are near unchanged about 60 minutes before the open in pre-market trading and point to a flat open …volume is light for pre-market with many more stocks quoting down than up…Financial stocks, XLF is up 9 cents on 11,100 volume in pre-market…
TLT is flat and the Euro is up 82 pips in premarket trading…
NDX leaders AAPL, AMZN, BIDU, GOOG and NFLX are quoting higher in pre-market trading…PCLN is lower…QCOM is unchanged…
Dave’s Insight for Wednesday: The SPX paused on Tuesday and pulled back to 1,180 before closing at 1,192…When the SPX again breakouts of the 1,200 level that is an indication that 1,240 and then 1,299 are the next price target levels…Posture is still bullish…Follow your rules for entries this morning for bullish and bearish trades… A good technical trader is objective and trade each chart according to their rules…Watch XLF which is still a key factor in any SPX move up or down…
SPX
Resistance: 1,200, 1,225, 1,235
Support: 1,173, 1,158, 1,146
Quoting Down – CRM, GMCR, FAZ, AGU, ANF, WTW, HLF, TLT, ANR, FWLT, CLF, CY, TSL, PCLN, DELL, GMCR, INTC
Quoting Up – CMG, ICE, SINA, UCO, DECK, SLB, MCP, GS, WLT, CAT, FCX, MHS, MOS, TIF, CAM, FAS, TBT, HAS, SLW, C, X, GOOG, AAPL, AMZN, SPLS, BIDU, DLTR, WYNN, BIIB, SBUX, NFLX, INFY, CTXS, CTRP
1 comment:
I love how you used "breakouts" as a verb, Dave. Such an original thinker!
Seriously, your insights have helped me maintain serenity in a volatile market.
Judy B
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