NEW YORK ( TheStreet) -- Headlines and Open Positions ISM and ADP were the driving forces of Wall Street trade on Wednesday, and allowed the overnight-market alert warnings of over-extended equity markets, and subsequent trade signals, to come to fruition. The US economic calendar has dominated the news wires in regard to equity indices valuations, with a stream of data hitting the wires recently that confirm the U.S. business cycle is still unable to move out of the trough phase and into expansion. There are a multitude of individual stock trades setting up as a result of the Wednesday session moves, which will be sent to clients if confirmation is seen this week. The fundamentals of the following companies may not be questionable, but they will get caught in the downdraft if global indices trade confirms that June will be a month that starts with profit taking on equity futures contracts. Intel ( INTC) will signal short with a close below 22.00, as will Continental Resources ( COL) with a close below 59.70. Apple ( AAPL) will signal short with a close below 347.00 that targets 344, and possibly 338 if the global equity indices downdraft hits. Google will signal short with a close below 527 that targets 522, and 515. The potential for new equity indices trade signals to form today has already passed, with overnight global momentum and reactions to this morning's economic docket now priced in. Traders who missed the overnight flow of information and trade ideas from TheLFB trade desk should not jump in at this stage; the momentum has run its near-term course and patience needs to be practiced. Equity and economic fundamentals remain very questionable over the mid-term, especially as the first-quarter earnings season wraps up and questions are asked whether the Federal Reserve will instigate another round of quantitative easing programs. The trade signal on the S&P 500(1327) followed through with a short signal from 1340, that targeted 1338, 1335, and 1329 has already filled. The next target area is 1313 if momentum builds. However, traders will need to exercise caution in joining the fray at this stage.