Markets close early at 1 pm ET on Friday. Dave will be in the Weekly Wrap with Tom and Ben at 1:30 pm ET. See you there...
BMO – ES -4.00 and NQ -7.00 futures are lower 30 minutes before the open in pre-market trading and point to a lower open…volume is light for pre-market with more stocks quoting down than up…Financial stocks, XLF is down 7 cents on 104,900 shares in pre-market at this time…
The Friday after Thanksgiving is generallly the lowest volume day of the year…
TLT is down 79 cents and the Euro is down 98 pips in overnight trading…
NDX leaders BIDU, GOOG and QCOM are quoting lower… AAPL, AMZN and PCLN are quoting higher…
Dave’s Insight for Friday: lower Euro…lower bonds… Financials lower…setting up a lower open …look for lighter volume on Friday, so stocks may drift more…Many stocks are just above horizontal support, while others broke support on Wednesday…Trade you setups and always follow YOUR rules at 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 – CRM, VMW, RCL, FAS, SLW, TLT, DOW, UNP, MCP, CLF, POT, UCO, CMG, NGLS, V, DE, MOS, GOOG, ADP, WYNN, BIDU, JOYG, QCOM, ESRX, NFLX, CHKP, ORCL
Quoting Up – AAPL, SINA, FAZ, AMZN, INFY
3 comments:
Hi Dave
Hope you and your family and all blogger readers and their families had a great holiday.
Re-read your previous post and saw how you highlighted the importance of the last to 2 lines of your blog pertaining to market direction. Can you share how YOU determine this market direction?
Thanks
Best Regards
Mike
Dave,
Thanks for your clarification on your Wednesday post. The information was very insightful and brings great understanding to market internals.
Hope you had a very enjoyable Thanksgiving Holiday,
J.A. - California
Great
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