The markets took another tumble yesterday and the price of Oil continues to cause worry in the markets. I'm again on the wrong side of that move. I'm still holding my calls (which are down about 40% now) because my charts are telling me we are heading higher. I still have several weeks of life left in my June calls, so I'm not too worried. We are still in the longer term uptrend channel and are now just testing the lower end of that channel. I'm already 30% invested and if I had more money I would buy more at this level. However, I don't want to get too over committed if I'm drastically wrong in reading the charts.
Pre-market the futures are pointing to a lower or flat open. The Q's are currently trading flat pre-market on some decent volume of over 2 million shares.
S&P 500 (JUN) -1.00
| Nasdaq (JUN) -4.25 | Dow (JUN) +1 
The pivots to look for on the Q's today are shown below.
Update at 9AM: Oil just turned around on the futures and is heading lower. The futures are improving for NQ and it just went green. The Q's are now up a quarter percent in pre-market trading.
Pre-market the futures are pointing to a lower or flat open. The Q's are currently trading flat pre-market on some decent volume of over 2 million shares.
S&P 500 (JUN) -1.00
| Nasdaq (JUN) -4.25 | Dow (JUN) +1 The pivots to look for on the Q's today are shown below.
| R2 | R1 | Pivot | S1 | S2 |
| 50.18 | 49.18 | 48.60 | 47.60 | 47.02 |
Update at 9AM: Oil just turned around on the futures and is heading lower. The futures are improving for NQ and it just went green. The Q's are now up a quarter percent in pre-market trading.
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