Futures Point to a Lower Open After GDP at 1%...

BMO – ES -7.00 and NQ -8.75 futures are lower about 20 minutes before the open in pre-market trading and point to a lower open, following the GDP report  of 1% growth, forecast had be 1.1%…volume is light for pre-market with more stocks quoting down than up…Financial stocks, XLF is down 11 cents on 30,400 shares  in pre-market at this time…

TLT is up 92 cents and the Euro is up 42 pips in premarket trading…

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

Dave’s Insight for Friday:  Take the trade according to your rules…Potential bear flags appeared on the chart on Thursday including CAT, IBM, AMZN, BIDU, GOOG, NFLX, PCLN and QCOM …position size for market conditions and remember premiums are high and selling strategies may be attractive…Posture did not turn bullish on Thursday, Green Line is below 20 and we wait for it to turn back up…Watch XLF which has been up the past two days and is still a key factor in any SPX move up or down…

SPX

Resistance: 1,173, 1,200, 1,225

Support: 1,160, 1,146, 1,134

Quoting Down –PCLN, VRTX, NFLX, GOOG, AAPL, AMZN, WYNN, GMCR, VOD, SBUX, FFIV, CELG, QGEN, CMG, CF, WLT, SINA, MCP, HLF, GS, MOS, CAT, DE, CLF, CHL, V, SLB, ANR, POT, TBT, FFIV, UCO, SOHU, LVS, FCX, FAS, URE, CROX, UNP

Quoting Up – TIF, ARUN, FAZ, DHR, VMW, WTW, FSLR, BIDU, RIMM, URBN, TLT, HLF, ATW, NKE, CAM, AGU, MHS, NTES, JNPR, ZAGG