Monday, August 22, 2011

Futures Point to a Higher Open...

BMO – ES +16.00 and NQ +34.00 futures are higher about 80 minutes before the open in pre-market trading and point to a higher open…volume is light for pre-market with many more stocks quoting down than up…Financial stocks, XLF is up 25 cents on 44,500 volume in pre-market…

TLT is down 54 cents and the Euro is up 41 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 Monday:  Follow your rules for divergence, double bottom or higher low trades…position size for market conditions and remember premiums are high and selling strategies may be attractive…remember gaps have a tendency to at least partially fill sometime in the first hour…Posture could turn bullish today, Green Line is still above 20 and on a reversal could turn back up…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: 1,134, 1,146, 1,158
Support: 1,119, 1,103, 1,080


Quoting DownFAZ, TLT

Quoting UpGOOG, PCLN, AAPL, NFLX, BIDU, WYNN, GMCR, AMZN, JOYG, CF. VMW, CMG, GMCR, SINA, CRM, DECK, WLT, SOHU, GS, CLF, FFIV, MCP, CAT, SLB, POT, MOS, V, DE, ANF, FCX, NKE, HUM, CHL, UNP, ANR, TIF, WTW, ACN, CAM, AGU, X, SLW, LVS, C, CDE, CROX, FWLT, FAS, A, PCX, CREE, DLR, STI, RVBD, ARUN, SNDK, GLW, TSL, ATW, JDSU, SMH, WDC, UCO, DOW, CRUS, DHR, NVDA, ZAGG, F, FFIV, WFM, NTAP, QCOM, ISRG, VOD, SHLD, EXPE, ADS, INFY, RIMM

1 comment:

Anonymous said...

Which was the TR where Dave demonstrated selling a put on SPY?

Steven R.