Tuesday, November 6, 2012

Tuesday 11.6 Pre-Mkt Outlook

The /ES closed yesterday at 1412 and looks to open around 1416 this AM.

Some big earnings movers this AM, nothing that really stands out but I'll be watching:

$WTW came out with a beat and is trading around 54 in the pre-mkt after closing yesterday at 47.50. There are 1200 contracts sitting in OI at the Nov 55 call strike and it will be interesting to see if it can break that 55 near term support.

$ESRX is trading lower on heavy volume in the pre-mkt after an earnings miss and warning. It closed yesterday at 63.09 and is trading at 56 in the pre-mkt. If it breaks below 55 it could find support next at 52.50

$Z is getting smoked in the pre-mkt after closing at 34 yesterday it looks to open around 28.40. It has support at 27.50ish then looks like it could break lower to 25 then 22.50.

$FOSL is also down in the pre-mkt after closing at 94 it looks to open around 86.50 after coming out with earnings and guiding down its expectations. If it loses support at 85, it could breakdown to 75 based on the recent chart.

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