Futures Point to a Higher Open as Euro Bounces...

BMO – ES +7.75 and NQ +12.50 futures are higher about 28 minutes before the open in pre-market trading and point to a higher open…volume is light to moderate for pre-market with many more stocks quoting up than down…Financial stocks, XLF is up 22 cents on 298,900 shares in pre-market at this time…

Two day FOMC announcement at 2:15 pm EDT today…

TLT is down -2.57 and the Euro is up 97 pips in overnight trading…the Euro found support yesterday morning, at least temporarily, notwithstanding the news…is that possible?

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

Dave’s Insight for Wednesday:  higher Euro…lower bonds…Financials up…setting up a higher open …we are in the drool zone…bull flag setups…time to be ready if entry signals occur…time to adjust stops on short term bearish trades to protect profits with a break above the high of the low day…Always follow YOUR rules...

Chart Signals will be watching XLF, the Euro, TLT, TNX and VIX today as key factors in any SPX move…U.S. traders were buying the support level on Tuesday (which we mentioned to watch for in Tuesday morning’s post) as can be easily seen in many of the neutral to positive candles on stock charts last night…

SPX

Resistance: 1,230, 1,249, 1,260

Support: 1,216, 1,205, 1,177

Quoting Down – FAZ, TLT, FWLT, CTSH, ISRG, INFY, CERN, TEVA, ORLY

Quoting Up – CMG, FFIV, CRM, SOHU, DECK, GS, V, SINA, GMCR, CLF, COH, ICE, NKE, URE, SLB, IBM, CAT, HLF, UCO, HAL, LNKD, MOS, VMW, FCX, RVBD, HUM, CF, JDSU, ANR, C, LVS, FAS, POT, MCP, X, NDAQ, SLW, SNDK, JNPR, DOW, ANF, WDC, CSTR, DLR, CDE, ATI, PCX, ESI, RCL, CROX, UAL, AKS, STI, CIEN, PCLN, GOOG, FFIV, GRMN, MXIM, WYNN, AAPL, BIDU, AMZN, SIAL, GMCR, INTU, FSLR,  ADP, XRAY, NFLX, COST,ALXN, WFM, ADSK, VRTX, LLTC, JOYG, QCOM, URBN, APOL, CA, EBAY, BIIB, NWSA, BRCM