BMO – ES +13.75 and NQ +27.00 futures are higher about 10 minutes before the open in pre-market trading and point to a higher open…volume is moderate for pre-market with more stocks quoting up than down…Financial stocks, XLF is up 17 cents on 637,100 shares in pre-market at this time…
TLT is down -1.23 and the Euro is up 165 pips in overnight trading…
NDX leaders AAPL, AMZN, BIDU, GOOG, PCLN and QCOM are quoting higher…NFLX is gapping down in pre-market trading.
Dave’s Insight for Thursday: The support bounce accelerated on Wednesday as price moved closer to horizontal resistance….remember to trade for your target and move your stop according to your rules…take additional entries that break above the high of the low day or break out of horizontal resistance according to your rules…Continue to trade with the short term bounce as it follows through…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 – NFLX, FAZ, VECO, TLT, CREE, DHR, TIF, NKE, SLW, CDE, ILMN, KLAC
Quoting Up – PCLN, GOOG, CF, CMG, UNP, CSTR, GMCR, CAT, ICEK DE, SLB, CLF, WLT, SINA, VMW, HUM, UCO, FFIV, POT, DECK, FCX, COH, HAL, MOS, ATI, SNDK, TBT, IBM, ANR, RCL, LVS, MCP, FAS, GS, CRM, ATI, TBT, SNDK, C, FAS, LNKD, ISRG, AAPL, WYNN, ALXN, AMZN, BIDU, JOYG, CERN, INTU, VRTX, CTSH, QCOM, PCAR, FLSR, FFIV, ROST, NTAP, CHKP, ORLY, ORCL, BBBY, AMGN, CTXS, BMC, BRCM
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