Tuesday, January 24, 2012

Futures Point to a Lower Open...VMW, COH, WDC Set to Gap Up...

Market awaits AAPL after the close...

1:40 pm ET - The Euro has bounced off on Monday's S1 level and the SPY has rallied of its low...leading stocks include VMW, COH, WDC, GMCR, LIFE, LRCX, ADSK, BMC, NVDA

Be mindful of the earnings date and time of the stocks you trade and follow your rules.
Flagging stocks to watch - CREE, CIEN, TXN, CF, DE, LNKD, MCP, SINA, SLB, TSL, UNP, V, AMZN, ATI, RVBD, JNPR, SNDK, SWK, TPX



BMO – ES -7.75 and NQ -11.25 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 a more of stocks quoting down than up…Financial stocks, XLF is down 14 cents on 63,700 shares in pre-market at this time…FAS is down $2.18

TLT is up 57 cents and the Euro is down 58 pips overnight …

TXN which gapped up in the after hours will not gap above last nights entry so we may find another setup in the market pulls back…BAC going to open lower so similar situation here from last nights’ paper trades…

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

Dave’s Insight for Tuesday:  Lower Euro…bonds higher… Financials lower…setting up a lower open … Follow YOUR rules for entry, exits and stops...TRADE THE TREND…


The market awaits AAPL earnings after the close today…the SPX has been poised to pull back up to 20 points inside its up trend and is following the Euro lower early this morning on light volume…

Tuesday earnings of interest – AMD, AKS, ALTR, AAPL, DD, JNJ, MCD, STLD, TRV, VZ, YHOO

Chart Signals will be watching the Euro to see if the support bounce continues and leads to a trend reversal and the VIX to see if it holds its down trend...

SPX
Resistance: 1,315, 1,331, 1,347
Support: 1,300, 1,292, 1,277

Quoting DownCMG, FAS, IBM, UNP, WLT, CAT, ZION, CF, GS, SLB, SINA, POT, CLF, DE, UCO, MOS, CRM, ANR, C, MCP, FCX, V, DOW, HAL, LVS, X, VECO, SLW, ZAGG, NTES, ANF, AAPL, GOLD, AMZN, GOOG, NFLX, CTSH, WYNN, CHKP, XLNX, GMCR, DLTR, BIDU, QCOM, PNRA, FSLR, CELG, LIFE

Quoting UpVMW, COH, WDC, FAZ, TLT

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