PRE MARKET NOTES

After a good day yesterday, futures are down this morning on a few things.

London FTSE and rest of Europe down. The PM of the UK calling for early elections.

Goldman (GS) down $6 on earnings miss…about 40 Dow points.

Yesterday’s stronger day enables us to define support levels:

Russell 2000 1335-1340…S&P 2322-2328…Dow 20,412…NYSE 11,324…XLF $23ish…KRE $51.17…NASDAQ 5769-5800…NDX 5353 and then 5316

These levels are important in that market has had some distribution already and these levels have been holding for about 8 weeks. A break below is trouble. Yesterday, as soon as the financials caught a better bid, market caught a better bid. Goldman will not help the cause this morning. A lot more earnings to come out.