Friday, August 24, 2012

Futures Slight Lower in Bull Flag Pattern...ADSK, CRM to Gap Down...


BMO – ES – 2.00 and NQ -1.50 is down slightly in pre- market…SPY down -24 cents in pre-market…

XLF is down 4 cents…on just 1,200 shares
Euro is down 56 pips…
TLT is up 9 cents…

ADSK -8.16, -22.85% is gapping down in pre-market following earnings after the close on Thursday…
CRM -4.23, -2.88% gap down after earnings

Short-term support at
140.92, 139.80 = SPY
1,403, 1,387 = ES
2,743, 2,700 = NQ

Next Chart Targets: 
SPY = 143.10 S&R Measuring
ES = 1,425.75 S&R Measuring


The trend is still up but prices are consolidating in a bull flag pattern…follow your rules for entry, exit, adjust stops to protect profits at this time according to your rules...


Quoting Up: GILD, SYMC, IBM, CRUS, WDC

Quoting Down:  ADSK, CRM, ADBE, AAPL, GOOG, GOLD, MOS, FAS, VMW, CSTR, LNKD, COH, FCX

1 comment:

Tom Cunningham said...

Hi Dave,

Thank You! As a technical trader, I follow the odds and one of the best ways is your blog and your teaching. You are an excellent example as your blog and your teaching continually improve from an already high place.
Thank You again,
Tom Cunningham