Wednesday, September 21, 2011

Futures Point to a Flat Open Ahead of Fed Announcement at 2:15 EDT...

BMO – ES -0.25 and NQ +1.50 futures are mixed about 15 minutes before the open in pre-market trading and point to a flat open…volume is light for pre-market with a similar number of stocks quoting up and down…Financial stocks, XLF is up 4 cents on 47,300 shares in pre-market at this time…

TLT is down 21 cents and the Euro is down 31 pips in overnight trading…

NDX leaders AAPL, AMZN, BIDU, GOOG, NFLX and PCLN are quoting higher…QCOM is lower in pre-market trading…NDX stocks look to be on the move while many others are near even awaiting the Fed announcement…

Intermediate term posture is still bullish.

Dave’s Insight for Wednesday:  The SPY is still near resistance and can either breakout or pull back…it is likely to drift prior to the Fed announcement at 2:15 EDT…expect increased volatility just before and after the announcement…be prepared for a move in either direction…stay with the short-term up trend…look for entry signals according to your rules…remember to trade for your target and move stops to protect profits according to your rules…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, 1,146


Quoting DownWLT, ANR, CMG, CLF, JOYG, FSLR, CSTR, PCX, CAT, ARUN, DECK, HLF, UNP, FAZ, TLT, TPX, CELG, QCOM, VOD

Quoting UpAAPL, PCLN, WYNN, SINA, MCP, CRM, VMW, LVS, NKE, VL, SOHU, SNDK, COH, GS, IBM, RVBD, RCL, NFLX, ORCL, ISRG, BIDU, ADBE, GOOG, BBBY, AMZN, ILMN

2 comments:

Rajesh Sharma said...

Bro you were on the money when you said exit the bullish.

Anonymous said...

TNX lowest intraday and close as far back as prophet charts go.

Steven R.