BMO – ES -8.00 and NQ -7.50 futures are lower about 5 minutes before the open in pre-market trading and point to a lower…volume is moderate for pre-market with more stocks quoting up than down…Financial stocks, XLF is down 8 cents in pre-market at this time…
TLT is down -1.61 and the Euro is down 22 pips in overnight trading …
NDX leaders AAPL, AMZN, BIDU, GOOG, PCLN and QCOM are quoting lower…
Dave’s Insight for Friday: low Euro…weaker bonds…Financials down…setting up a lower open …the SPX is in a bounce continuation move to the upside…futures indicate a pause which after the strong day on Thursday is typical profit taking…as long as selling stays above Thursday S1 expect the short term trend to continue up…Chart indicates a move to 1,363 in 8 to 10 weeks…Follow your entry signals and take trades according to your rules…Watch XLF, TNX, and breadth as key factors in any SPX move…move stops on profitable trades…Trade Gaps that meet your rules as earnings season continues this week…
SPX
Resistance: 1,300
Support: 1,273, 1,260, 1,249
Quoting Down – CSTR, ICE, TLT, VMW, V, CHL, IBM, DE, URE, FFIV, UCO, FCX, SWK, CAT, ANR, WLT, HLF, COH, DOW, JNPR, ATI, ARUN, GS, GMCR, MCP, HAL, C, CRUS, PCLN, GOOG, INFY, KLAC, AAPL, CTXS, EXPE, VMED, INTU, ERTS, NFLX, ORLY, GRMN, VOD, ADBE, SHLD, JOYG , SBUX
Quoting Up – DECK, CLF, SOHU, CMG, A, LVS, SINA, LNKD, CRM, TBT, SLW, RCL, PCX, WDC, BIDU, NIHD, WYNN, BIIB, ROST, CELG, FAST
1 comment:
Dave,
Thanks for your continued mentoring. It really is making a difference in many lives, including mine. Let me know if you'd like a copy of "The Running of the Bears".
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