Thursday, December 8, 2011

Futures Point to a Flat Open Again...

BMO – ES -2.75 and NQ +2.50 futures are mixed 80 minutes before the open in pre-market trading and point to a flat open…volume is light for pre-market with a similar number of stocks quoting down and up…Financial stocks, XLF is down 2 cents on 2,000 shares in pre-market at this time…

TLT is down 20 cents and the Euro is down 2 pips in overnight trading…

NDX leaders AAPL, BIDU, GOOG and QCOM are quoting higher…AMZN is lower...PCLN is unchanged…

Dave’s Insight for Thursday: flat Euro…flat bonds… Financials down slightly…setting up a flat open …while we expect this support bounce to continue this week has been a pattern of shaking weak sellers out and rallying the SPX to a slight positive, buyers bringing back…and Yes, Charts don’t lie so based on what is more likely we still expect the 1,363 chart target to be achieved by year end…Follow YOUR rules for entry, exits and stops...TRADE THE TREND

Chart Signals will be watching XLF, TNX and VIX today as key factors in any SPX move

SPX
Resistance: 1,249, 1,260, 1,273, 1,288
Support: 1,230, 1,216, 1,205

Quoting DownTSLA, VMW, SMH, LVS, NKE, CREE, ANF, A, DHR, CAT, WDC, GS, COST, XRAY, ADBE, SIAL, DTV, ORLY

Quoting UpCSTR, V, HAL, CRM, SINA, POT, ESI, MCP, WLT, SLB, AAPL, AMGN, CTXS, BDIU, APOL, ALXN, NIHD, ESRX, STX, BIIB, WCRX, VOD

7 comments:

Anonymous said...

Thanks for your analysis, Dave.

Gary said...

Dave,

Thanks for the reply.

Anonymous said...

Thanks for the "Set Up's" Dave. Very helpful. I know if I see the same thing you see.
Much appreciate your entire blog.
Gina

Jim.QQQ said...

Dave,
Are you seeing Falling Wedges and Triangles too? Curious if it will get mentioned during Thurs PM's AT class.
Jim

Anonymous said...

Thanks for teaching bearish entries. When the market is sideways I should have some bearish trades on and some bullish trades. The bearish trades is where I need more practice.
Deborah

Uwe said...

Thank you Dave for a great trading room today. The bearish entries were a major BGO. I don't know where you get the energy to have a 4 day live and then teach the trading room, but I really appreciate it. Today's session will make a big difference in my trading. All your sessions are great, but this one was one of the all time best and I have been listening to you for nearly 3 years. I highly recommend that everyone watches the recording.

PENNY STOCK INVESTMENTS said...

Nice