Futures Point to a Higher Open on Breakout Continuation...SPX Price Target 1,298...

BMO – ES +12.00 and NQ +19.25 futures are higher about 45 minutes before the open in pre-market trading and point to a higher open…volume is light for pre-market with more stocks quoting up thandown…Financial stocks, XLF is up 10 cents on 9,100 shares in pre-market at this time…

TLT is up 29 cents and the Euro is down 2 pips in premarket trading…

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

Dave’s Insight for Wednesday: Tuesday was the typical breakout pause or profit taking following a large up day…the pull back stayed above Monday S1 level…all sectors were higher except XLF…advancers led decliner on both the NYSE and NASDAQ…Follow your rules for trading breakouts as the double bottom breakout looks to continue up…The SPX chart target is 1,298…Pull backs to support may be a second chance to enter the trend…Take the trade according to your rules…Posture did turn bullish on Friday, Green Line is above 20 and rising…Watch XLF as a key factor in any SPX move up or down…

SPX
Resistance: 1,225, 1,235, 1,249
Support: 1,200, 1,177, 1,160

Quoting Down – URE, HUM, FAZ, CHL, DHR, DLR, UCO, ANF, ICE, SWK, ESRX, SRCL, SHLD, XRAY, COST, CELG, CERN, EBAY, FISV, SBUX

Quoting Up – SINA, BIDU, JOYG, PCLN, NFLX, GOOG, WYNN, CMG, CRM, CF, VMW, CAT, DECK, GMCR, SOHU, DE, MCP, RVBD, LNKD, CSTR, FCX, IBM, X, WLT, GS, MOS, LVS, HAL, V, ANR, SLB, RCL, SNDK, TLT, CIEN, JDSU, POT, C, SWKS, AAPL, AMZN, FFIV, LIFE, CTXS, NTAP, RIMM, ISRG, DLTR, BIIB, TEVA, CTRP