Futures Point to a Lower Open as Euro, Financials Trade Lower...

Change to the ESH2 S&P contract with the Z1 contract expiring this week.

BMO – ES -13.75 and NQ -18.00 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 18 cents on 48,000 shares in pre-market at this time…

This following Moody’s stating in its weekly credit report that it still expects to review EU sovereign credit in the first quarter of 2012.

TLT is up $1.18 and the Euro is down 119 pips in overnight trading…

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

Dave’s Insight for Monday:  lower Euro…higher bonds… Financials down…setting up a lower open …the SPX traded in a 35 point range last week and continues to find selling in the 1,255 to 1,267 resistance area…the 1,363 chart target can still 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 Down – CRM, FAS, CF, UCO, GS, SINA, CLF, DE, CAT, SLB, IBM, SLW, FFIV, FCX, CDE, GES, MCP, V, HLF, C, HAL, GRPN, ANR, MOS, X, UAL, LVS, ANF, POT, RCL, STI, UNP, TBT, LNKD, TIF, DOW, JNPR, PCLN, GOOG, AMZN, IDU, AAPL, KLAC, FSLR, FFIV, CTSH, ADSK, NFLX, INTC, GMCR, CTRP, CELG, XLNX, QCOM

Quoting Up – FAZ, TLT, TPX, DECK