9:43 am EDT - The early fade is underway watch for a bounce...
BMO – ES +20.00 and NQ +37.00 futures are higher about 10 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 18 cents on 628,600 volume in pre-market…
BMO – ES +20.00 and NQ +37.00 futures are higher about 10 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 18 cents on 628,600 volume in pre-market…
Those in last night’s live support webcast…remember the lower low candle with a small body I drew in for today? Well, the future’s chart has formed that type of candle overnight. Is this the potential bottom, three more down days and then a bullish candle following the long tail hammer, similar to June 8 2006?
Financials are also participating in the pre-market bounce…Be prepared for a potential support bounce and bottom…
TLT is down 68 cents and the Euro is up 97 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 Tuesday: Blood may be running in the financial streets…all 100 NDX stocks have fallen below their 30 DMA …Gold is at a new high…With the market set to gap up be prepared for an early fade…While the pre-market does not a trading day make…if the gap up holds, be prepared for bottom candles and potential support bounce entries…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: 1,134, 1,146, 1,158
Support: 1,119, 1,103, 1,080
Quoting Down – FAZ, TLT, GES, DHR, CHL, NDAQ, BIIB, EXPD, PCAR, MAT, ORLY
Quoting Up – GOOG, AAPL, PCLN, ISRG, GMCR, BIDU, AMZN, HLF, CMG, SINA, WLT, CRM, CF, MCP, SLB, CAT, SOHU, UNP, CLF, GS, TPX, MHS, FFIV, DE, FCX, DECK, HUM, URE, VMW, ANR, POT, DLR, C, CREE, CROX, ATI, AGU, RVBD, X, ANF, ZAGG, LVS, NKE, COH, FAS, V, UCO, LNG, SNDK, CAM, CRUS, BAC, STI, JDSU, AKS, PCX, TIF, CTSH, FFIV, TEVA, ERTS, XLNX, NTAP, LRCX, WFM, NFLX, FSLR, ADP, ILMN, LLTC, CELG, SRCL, RIMM, JOYG, QGEN, GILD, COST, LINTA, DELL, SBUX
6 comments:
Really appreciate you taking time to comment on what you see.
Thanks for a fantastic discussion last evening and reminder of the use of the Market Forecast Tool. It's people like you who care about others that keeps me from giving up on this country.
Dave,
Thank you for your insight on the market, particularly over the past few days. You have helped me stay calm and follow my rules. I can not put into words my gratitude and appreciation for all you do for us. Thank you so much!!
Interesting charts
cbou
dtlk
gmcr
qcor
kcg
You really called it Dave. Thanks for sharing the 1987 insight with your bloggers. You're the best Dave!
I meant 2006 insight.
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