Futures Point to a Lower Open...

11:12 am EDT - Last night I demonstrated a Support break entry...I also pointed out that if the SPY gapped down in the pre-market that the order should be cancelled...I have pointed out many times that gaps have a strong probability of at least partially filling and in the last few minutes the SPY gap down has filled reaching 109.93 or Monday's close

Equally important, I shared last night what I focus on in the pre-market and after the open to give me a sense of the types of trades that I want to place...I called it Global Money Flow starting with the Euro, XLF, TLT and ES futures. in the pre-market, then once the market is open the Euro, TNX, TLT, XLF and SPY.  I said if the Euro was up this morning that generally leads to rising interest rates, financial stocks and a rising SPX.  The bright point to the upside this morning in the pre-market was the Euro.  The ES and SPY along with XLF were down and TLT was up. 

Just before 10 am EDT the TNX began to rise followed by the XLF and SPY...then the Euro began to accelerated to the upside TLT and the VIX began to pull back and the bounce was on.  Monday is the low for daily chart traders as of this time so there is no daily chart entry.  Today will become the new low day and if the bounce holds a potential entry could on Wednesdday.  If the bounce does not hold, now that the gap down filled, its back to the break of support entry.




BMO – ES -7.25 and NQ -6.75 futures are lower about 15 minutes before the open in pre-market trading and point to a  lower open…volume is moderatefor pre-market with more stocks quoting down than up…Financial stocks, XLF is down 13 cents on 135,300 shares in pre-market at this time…

TLT is up 28 cents and the Euro is up 18 pips in overnight trading …Watch for any bounce in the Euro which might occur today…

NDX leaders AAPL and NFLX are quoting higher…AMZN, BIDU, GOOG, PCLN and QCOM are quoting lower…

Dave’s Insight for Tuesday:  Slightly higher Euro…slightly stronger bonds…Financials lower…resulting in a lower open…Watch for at least a partial fill of this gap down…With the SPX below support, watch to see if any rally gets back above support…Wait for your entry signals before taking new trades…Watch XLF, volume and breadth as key factors in any SPX move up or down…move stops on profitable trades…

SPX

Resistance: 1,114, 1,121, 1,134

Support: 1,103, 1,092, 1,065

Quoting Down – ISRG, GOOG, AMZN, ORLY, PCLN, JOYG, BIDU, ILMN, FSLR, ESRX,WFM, ALXN, CELG, FFIV, CRM, WLT, CF, GS, SMH, CMG, IBM, LNKD, GMCR, CAT, SLB, NKE, VMW, CLF, SOHU, DE, SINA, V, ARUN, FFIV, UNP, RCL, POT, HAL, CROX, UCO, HLF, RVBD, SWKS, ANF, MOS, DOW, SNDK, FCX, KKD, CRUS, FAS, INFA, C, SLW, X, DHR, JNPR, ANR, NTES, TIF

Quoting Up – FAZ, MCP, TLT, DLR, TPX, NFLX, AAPL, WYNN, YHOO