BMO – ES -18.50 and NQ -27.00 futures are lower about 20 minutes before the open in pre-market trading and point to a lower open, following Asia and Europe trading lower…global economic growth and debt are reported as concerns once again …volume is moderate for pre-market with many more stocks quoting down than up…Financial stocks, XLF is down 21 cents on 246,400 volume in pre-market…
TLT is down 5 cents and the Euro is up 85 pips in premarket trading…
NDX leaders AAPL, AMZN, BIDU, GOOG, NFLX, PCLN and QCOM are quoting lower in pre-market trading…
Quoting Up – FAZ, CRM, CHL, CREE, SLW
Dave’s Insight for Friday: Pre-market action suggests a pull back to the 1,119 support area…watch if this level of support holds…remember gaps have a tendency to at least partially fill sometime in the first hour…Posture turned bearish on Thursday, 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: 1,146, 1,158, 1,170
Support: 1,134, 1,119, 1,103
Quoting Down – CMG, GMCR, HUM, VMW, CF, WLT, DECK, CAT, CLF, HLF, MCP, SOHU, LDK, GS, LVS, MOS, DE, SLB, ANR, FFIV, URE, V, AGU, C, ATW, NKE, ZAGG, X, FAS, NTES, SINA, SNDK, AAPL, AMZN, BIDU, GOOG, NFLX, PCLN, QCOM
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