Monday, October 1, 2012

Euro Bounce...Futures Point to Higher Open as GOOG, AAPL and FB Rise...

BMO – ES +6.50 and NQ +16.50 are higher in pre- market…SPY is up 64 cents in pre-market…The Euro opened Sunday evening lower down more than 30 pips at one point and reversed overnight and is now up 75 pips forming a bullish engulfing pattern in it two week bull flag pattern…GLD is up 1.55 as gold rises on weaker U.S. dollar…

XLF is up 12 cents…
Euro is up 75 pips at 1.2924…
TLT is down 15 cents…


Chart Targets:
SPY = 147.88 2.61 Fib
ES = 1,466.00 2.61 Fib on ESZ2
EUR/USD = 1.3095 1.60 Fib, 1.3345 S&R Measuring.


Short-term support at
143.09, 142.33 = SPY
1,424, 1,417.50 = ES
2,775, 2,762.25, 2,750 = NQ


Stay alert on short-term trades for a possible short-term bounce.
Follow your rules for entry, exitadjust stops to protect profits at this time according to your rules...

Quoting Up: GOOG, AAPL, ISRG, GS, FAS, CRUS, CLF, SLB, FCX, DE, ZAGG, LVS, FB, CDE, DECK, SINA, AMZN, GOLD, INFY, GILD

Quoting Down:  BIDU, ANF, FAZ

1 comment:

Steven Rotstein said...

Dave,

You illustrate in your Friday post that EXPE gained about 100% YTD. My question is: if I were engaged in short term trades with EXPE, SHOULD I have made alot more than the 100% that would have occured by simply holding the stock YTD?

Hope to hear from you soon,
Steven