BMO – ES –24.00 and NQ -43.50 futures are lower about 70 minutes before the open in pre-market trading and point to a lower open…volume is moderate for pre-market with a many more stocks quoting down than up…Financial stocks, XLF is down 19 cents on 57,900 shares in pre-market at this time…
TLT is up 3.64 and the Euro is down 140 pips in overnight trading…
NDX leaders AAPL, AMZN, BIDU, GOOG, PCLN and QCOM are quoting lower…NFLX is higher in pre-market trading…
Dave’s Insight for Thursday: The SPY was down…with this morning’s gap look to see if US traders see this as a buying opportunity they did on Sep 6 and 12…stay with the short-term trend…look for bearish or bullish 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: 1,160, 1,177, 1,200
Support: 1,146, 1,134, 1,117, 1,100
Quoting Down – ISRG, PCLN, GOOG, AAPL, WYNN, CMG, CF, SOHU, SINA, IBM, VMW, GMCR, CRM, CLF, LNKD, UCO, FFIV, DECK, V, GS, SLB, CAT, WLT, HLF, MCP, SLW, DE, FCX, UNP, HUM, URE, NKE, LVS, COH, TIF, HAL, X, CHL, RCL, FAS, POT, JDSU, DHR, RVBD, SNDK, NETL, ANR, CRUS, A, ATI, STI, NVDA, CDE, ARUN, SMH, SWKS, PCX, CREE, JNPR, DOW, CROX, AKS, AMZN, FSLR, BIDU, JOYG, ALXN, QCOM, WFM, CTXS, BIIB, EBAY, VMED, ORLY, CTRP, SBUX, RIMM, ADBE, MSFT
Quoting Up – FAZ, TLT, DLR, MOS, NTES, CSTR, NFLX, CERN, SRCL, ALTR, ROST
2 comments:
Dave, what could be the catalyst of such a strong two day selloff? I know as technicians, we're not supposed to care "why", but as educated, well balanced traders, I think it would be helpful to have some understanding beyond "more sellers than buyers".
Thanks,
Steven R.
well it's pretty much as simple as the Fed sticking their monetary policy in free markets, where it does NOT belong! manipulating interest rates at artificially low rates for extended periods! but really as technicians, all we need to focus on is PRICE! hope that helps! peace
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