BMO – ES -14.50 and NQ -22.75 futures are lower about 75 minutes before the open in pre-market trading and point to a lower open on Thursday just prior to jobs data at 8:30 am EDT…volume is moderate for pre-market with many more stocks quoting down than up…Financial stocks, XLF down 8 cents on volume in pre-market…
TLT is up 85 cents and the Euro is down 124 pips in premarket trading…
NDX leaders AAPL, AMZN, BIDU, GOOG, NFLX, PCLN and QCOM are quoting lower in pre-market trading…
GM is higher and WLT gaps lower following earnings…
Earnings Next Week
Monday Aug 1= CTRP, HLF, HUM, SOHU
Tuesday Aug 2 = CTSH, EXPD, HSIC, SIRI, COH, FWLT
Wednesday Aug 3 = ATVI, CMCSA, AGU, ATW, ENTR, ICE, WLT
Thursday Aug 4 = DTV, FSLR, GRMN, PCLN, ANR, CF, GM, SINA
Friday Aug 5 = WCRX, WTW
Dave’s Insight for Thursday: Expect a test on Wednesday's low today...With the intermediate term trend Neutral, one should wait for confirmation which is a close above Wednesday's long tail hammer...Follow your rules for entries this morning for bullish and bearish trades…Trade each chart according to your rules…Watch XLF which is still a key factor in any SPX move up or down…
SPX
Resistance: 1,267, 1,278, 1,288
Support: 1,258, 1,249, 1,235
Quoting Down – WLT, CMG, ANR, MCP, FCX, CLF, GMCR, ENTR, HLF, CAT, DE, SLB, DECK, GS, VMW, UNP, CF, V, TPX, MOS, ATI, X, UCO, LVS, UCO, POT, CREE, PCX, FFIV, SNDK, CIEN, SOHU, NKE, C, ICE, FAS, TVT, JNPR
Quoting Up – ANF, FAZ, TLT, FFIV, URE, ACN, CRM
2 comments:
Dave,
Great insight, analysis, and tune. All are very positive and the reason I "tune" into you every day. (Couldn't resist that)
Thanks,
Gary A.
On days like this, you can throw technical analysis out the window. Fear overrides everything including common sense.
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