BMO – ES -4.75 and NQ -2.75 futures are lower about 80 minutes before the open in pre-market trading and point to a flat to slightly lower open…volume is light for pre-market with more stocks quoting down than up…Financial stocks, XLF is down 8 cents on 15,100 shares in pre-market at this time…
TLT is up 1.20 and the Euro is down 58 pips in premarket trading…
NDX leaders AAPL, AMZN, BIDU and GOOG are quoting slightly lower…NFLX, PCLN and QCOM are quoting flat in pre-market trading…
Dave’s Insight for Thursday: The S&P appears to have made a bull flag off of a higher low at 1,140 and we look for the support bounce to continue…a pause day for short term profit taking would not be unusual after Wednesday’s strong move…if there is no new negative worries or rumors, short term traders may decide to stay with the bounce and take prices higher…Take the trade according to your rules…watch for MF green line posture to possibly turn up …Trade with the short term trend…Watch XLF as a key factor in any SPX move up or down…
SPX
Resistance: 1,200, 1,225, 1,235
Support: 1,177, 1,160, 1,146
Quoting Down – ICE, WLT, CRM, LNG, SINA, COH, IBM, HLF, ESI, TIF, GES, GMCR, CMG, DLR, CLF, ANR, TBT, ANF, CAT, GS, STI, HUM, FAS, X, POT, GOOG, BIDU, TEVA, AMZN,
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