Remember those logical areas for technical resistance from this weeks market wrap video? Those areas like trendlines, 200 day moving averages, former price resistance do you remember that? Good! Now throw that all away and put your party pants on!
After a full week of listening to Fed members jawbone an interest rate hike as soon as April Janet Yellen came out yesterday grabbed the microphone, popped the cork off the champagne bottle and said
"Rate Hike? We Don't Need no Stinking Rate Hike! Lets PARRRRRTTTTTYYYYYYYY! "
Okay so maybe that isn't exactly how it happened or what she said but it is having the same effect on the market around the globe. Accept for Japan who apparently didn't get the invitation to the party.
We are gapping premarket and gap up days are typically my worst days to day trade. Oil is bouncing a little after yesterdays decline but that could change once we get this weeks production and inventory report at 10:30 ET. The dollar was weaker yesterday after Yellens comments and Gold found its footing once again. Metals and miners could continue their recent run if the dollar continues to weaken. X AKS TRQ NEM AA are just a few that come to mind.
ACAD had some positive news yesterday and that could spark the beaten up biotech sector however the entire sector is still a political target so be careful in the space.
The dovish stance of the Fed is good for home builders and we are heading into spring selling season. With several of the home builders looking pretty sweet technically you may want to keep a close eye on the sector.
Small caps could be another hot sector since we closed above that 110 level that we talked about in this weeks market wrap video.
We have earnings season just around the corner once again and that could put a damper on the party once it starts but for now its
PARTY ON DUDES and DUDETTES !
Trade update> I bailed on SPXS yesterday as soon as Yellen started her dovish speech and got out flat
Today's Markets
In Asia, Japan -1.3% to 16879. Hong Kong +2.2% to 20803. China +2.8% to 3000. India+1.8% to 25339.
In Europe, at midday, London +1.7%. Paris +2%. Frankfurt +1.7%.
Futures at 6:20, Dow +0.7%. S&P +0.7%. Nasdaq +0.8%. Crude +1.7% to $38.93. Gold+0.2% to $1239.40.
Ten-year Treasury Yield +1 bps to 1.82%
Today's Economic CalendarIn Europe, at midday, London +1.7%. Paris +2%. Frankfurt +1.7%.
Futures at 6:20, Dow +0.7%. S&P +0.7%. Nasdaq +0.8%. Crude +1.7% to $38.93. Gold+0.2% to $1239.40.
Ten-year Treasury Yield +1 bps to 1.82%
7:00 MBA Mortgage Applications
8:15 ADP Jobs Report
10:30 EIA Petroleum Inventories
1:00 PM Results of $28B, 7-Year Note Auction
3:00 Farm Prices
8:15 ADP Jobs Report
10:30 EIA Petroleum Inventories
1:00 PM Results of $28B, 7-Year Note Auction
3:00 Farm Prices
ETF's on my Radar
Volatility & SPY OIL Biotech
UVXY XIV VXX TVIX SPXS SPXL UWTI DWTI GUSH DRIP LABD IBB LABU
UVXY XIV VXX TVIX SPXS SPXL UWTI DWTI GUSH DRIP LABD IBB LABU
Gold SILVER Dollar Financials
GLD NUGT JNUG USLV UUP FAS XLF FAZ
Minerals and Miners Utilities RETAIL Transportation
XME GDX GDXJ XLU XRT IYT XTN
DUST JDST
Stock on my Radar Premarket
*pr = Press Release
ACAD gapper don't chase but look for intraday setup
CFMS positive results potential trendline break XTNT pr gapping premarket likely going to raise capital soon don't chase
VRX could get a nice bounce had some PR
OMEX earnings beat can be a pop and flopper don't chase
VDSI pr could be worth watching
OPK taking a hit premarket on a CRL pr Looking at this as an opportunity to add to my swing 
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