A record $52.4 billion in retail sales over the Thanksgiving weekend which is a jump of 16.4 % from 2010 sets the market on fire in pre-market trading and reverses the seven-day short-term down trend…look for a break above the high of the low day near the open…It’s obvious that traders are wishing this Monday morning that they had taken advantage of Black Friday’s low stock prices…too late traders need to grab those price on Friday’s half-day of trading…Stocks look poised to crash up today...
BMO – ES +35.00 and NQ +56.75 futures are higher 20 minutes before the open in pre-market trading and point to a higher open…volume is heavy for pre-market with many more stocks quoting up than down…Financial stocks, XLF is up 41 cents on 873,400 shares in pre-market at this time…
TLT is down $2.39 and the Euro is up 78 pips in overnight trading…
NDX leaders AAPL, AMZN BIDU, GOOG, PCLN and QCOM are quoting higher…
Dave’s Insight for Monday: higher Euro…lower bonds… Financials leaping higher…setting up a gap up open …Most stocks are trading in the pre-market with much higher prices bouncing off horizontal support …Look for the classic break above the high of the low day entry…Follow YOUR rules for entry, exits and stops...
Chart Signals will be watching XLF, TNX and VIX today as key factors in any SPX move…
SPX
Resistance: 1,177, 1,205, 1,216
Support: 1,160, 1,146, 1134
Quoting Down – FAZ, TLT
Quoting Up – PCLN, GOOG, MA, AAPL, AMZN, CMG, CF, ICE, FAS, IBM, NTES, CRM, VMW, FFIV, CLF, GS, CAT, WLT, DECK, SINA, URE, SLB, DE, V, UCO, NKE, UNP, FCX, POT, MOS, HAL, LNKD, COH, SOHU, LVS, TPX, DLR, TIF, GES, MCP, ANF, SNDK, RCL, X, SLW, C, A, ARUN, HLF, JNPR, DOW, SMH, SWKS, CREE, TBT, ESI, CDE, PCX, CRUS, WDC, CSTR, NVDA, GRPN, ZAGG, GLW, AKS, TSL, JDSU, CIEN, BIDU, WYNN, FFIV, NFLX, JOYG, WFM, GMCR, SHLD, CHKP, QCOM, FSLR, CELG, COST, ESRX, SBUX, TEVA, EBAY, URBN, VOD, BRCM, AKAM, ORCL, VMED, NVDA, INTC
1 comment:
Higher highes lower lows.
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