Futures Point to a Lower Open...Breakouts Usually Test...

Dave is teaching an Advanced Technicals Workshop to approximately 350 traders in Dallas today...


BMO – ES -8.75 and NQ -12.25 futures are lower about 45 minutes before the open in pre-market trading and point to a lower open…volume is light for pre-market with more stocks quoting down than up…Financial stocks, XLF is down 12 cents on 24,500 shares in pre-market at this time…

TLT is up 1.73 cents and the Euro is down 97 pips in premarket trading…

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

Dave’s Insight for Tuesday: After Monday’s strong up day and breakout a pause or profit taking pull back is typical…Follow your rules for protecting your profits…Pull backs to support may be a second chance to enter the trend…Take the trade according to your rules…Posture did turn bullish on Friday, Green Line is above 20 and rising…Watch XLF as a key factor in any SPX move up or down…

SPX
Resistance: 1,225, 1,235, 1,249
Support: 1,200, 1,177, 1,160

Quoting Down – GOOG, AAPL, PCLN, BIDU, AMZN, NFLX, SINA, CLF, GS, LNKD, WLT, SLB, CRM, MCP, CF, FFIV, VMW, IBM, DE, TBT, MOS, CAT, DECK, HAL, UCO, CSTR, NKE, X, FAS, POT, DLR, C, GMCR, CROX, WDC, SNDK, PCX, FCX, LVS, WYNN, FFIV, INFY, QCOM, VOD, RIMM, AKAM, SBUX

Quoting Up – ISRG, TLT, FAZ, SLW, CDE, DHR, URBN