Friday, November 30, 2012

Friday 11.30 Outlook

The /ES closed yesterday at 1415 and looks to open around the same level this AM. It hit an overnight low of 1410 and traded around 1413 for a portion of the overnight.

The /NQ closed yesterday at 2680 and looks to open at that level as well. It hit a low of 2671 at 1830ish then rallied to a high of 2689 at 0600 before selling off.

$YUM is in the news and is off 8% after issuing a weaker forecast. It closed near 52wk highs at 74.35 and is trading at 68.25 in the pre-mkt. It's catching a number of downgrades as well. I would look at 68 as support, then 66 for the next level of support. I'll be watching the action on the 67.50 puts and 70 calls off the open to see what traders are thinking.

$TEVA also cut its outlook and shares were trading lower at 39.53 in the pre-mkt after hitting a pre-mkt low of 37.99. It closed yesterday at 40.25 and has been trading range-bound between 38.50 and 41.50.

$ULTA is ripping higher after analyst upgrades, the stock is trading around 97.32 after closing around 93.15. The 52wk high is 102.50.

No real news for AAPL or GOOG today.

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