Futures Point to a Higher Open...Watch for Basing Pattern Breakout...

BMO – ES +8.00 and NQ +10.50 futures are higher about 20 minutes before the open in pre-market trading and point to a higher open …volume is moderate for pre-market with many more stocks quoting up than down…Financial stocks, XLF is up 23 cents on 432,500 volume in pre-market…

Financials are also participating in the pre-market bounce…Watch for support bounce breakout of the past four days…

TLT is up 71 cents and the Euro is up 27 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 Friday:  GMCR, AAPL, CSCO, NWSA are the only NDX stocks above the 30 DMA…look for more to cross if a basing pattern breakout occurs…Gold closed lower on Thursday and is down in pre-market…With the market set to gap up be prepared for an early fade…Follow your rules for entries this morning for bullish and bearish trades… A good technical trader will stay objective and trade each chart according to your rules…Watch XLF which is still a key factor in any SPX move up or down…

SPX
Resistance: 1,173, 1,200, 1,225
Support: 1,158, 1,146, 1,134

Quoting Down – CHRW, ROST, LRCX, DLTR, ADP, VRSN, BMC, INFY, ERTS, GILD, ESRX, DTV, XRAY, MYL, MCHP, LIFE, NIHD, KLAC, FAZ, GES, TIF, HAS, TPX, CF, HLF, ACN, WTW, CHL, TBT, DHR, , XLNX, LINTA, CERN, ADSK, INTU, WFM, GRMN

Quoting Up – MCP, SINA, CAT, FFIV, DECK, GOOG, PCLN, AAPL, NFLX, WYNN, BIDU, FFIV, AMZN, JOYG, WLT, CMG, SOHU, DE, ESI, GMCR, GS, NVDA, CRM, VMW, CLF, URE, COH, MOS, TLTL, SLB, AGU, UCO, LVS, RVBD, POT, C, FAS, CROX, CRUS, SNDK, CAM, PCX, HUM, ANR, V, MHS, ZAGG, FWLT, JDSU, UNP, ARUN, SWKS, CREE, X, ANF, SMH, UAL, GLW, F, JNPR, STI, FSLR, BIIB, NTAP, VOD, BBBY, CTSH, SBUX, COST, RIMM, QCOM, QGEN, CELG, TEVA