Jobs Will Paint The Picture

Good morning folks, 
The Jobs report is likely to be the market mover today. If it comes in too hot it will put some pressure on the Fed to raise rates. If it comes in weak the Fed can remain dovish but what does it really say about out economy? 

The Markets continue to churn around but what I find interesting is the action in the IBB. If you think about it it would be tough for money managers and hedge funds that have missed the run to start aggressively buying up at theses levels since we have moved so far in such a short period of time. The only sector that did not participate in the run is Biotech and that could be a place to put some money to work for the big guys. Over the last couple weeks we have had some nice random runners in the space. What we need is some of the big companies like GILD, BIIB or CELG to find some strength and that could really lift the space.

Another interesting space is the energy sector, even though oil has been struggling the energy names have been holding up fairly well and consolidating over key technical levels. They have been in a dominant long term trend for quite awhile and I still think there are going to be some high profile blowups in the space but the worst may be over for the sector.  Although oil does need to get back over 40 a barrel for many companies just so they can continue to survive.

Gold and the miners appear to be consolidating while the dollar has pulled back to a potentially important area of technical support. If the UUP cracks below 24 it could get very interesting for precious metals and miners. However, if the employment number comes in really hot Gold could see a pull and the dollar could see some strength in the anticipation of a sooner than later Fed rate hike.  

The SMH (semiconductor space) could be under pressure today we got some negative news out of MRVL last night and missed earnings out of MU the night before. 

We actually saw a hint of volatility picking up yesterday and if the employment number comes in too hot the markets could react negatively. That would likely give us some trad-able action in TVIX and UVXY. 

As always I will be doing my stocks to watch and market wrap videos this weekend. We will go back to regular scheduling for stocks to watch it will be Sunday Morning 8 AM Vegas time. 

Today's Markets 

In Asia, Japan -3.6% to 16164. Hong Kong -1.3% to 20499. China +0.2% to 3009. India -0.3% to 25270. 
In Europe, at midday, London -1.4%. Paris -2.1%. Frankfurt -2%. 
Futures at 6:20, Dow -0.3%. S&P -0.4%. Nasdaq -0.5%. Crude -2.2% to $37.51. Gold -0.2% to $1233.10. 
Ten-year Treasury Yield flat at 1.79%

Today's Economic Calendar

Auto sales
8:30 Non-farm payrolls
9:45 PMI Manufacturing Index
10:00 ISM Manufacturing Index
10:00 Construction Spending
10:00 Reuters/UofM Consumer Sentiment
1:00 PM Baker-Hughes Rig Count

ETF's on my Radar 

Volatility & SPY                                     OIL                                                  Biotech
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

CSII Earnings Beat potential gap to fill on the daily 

BBRY earnings Beat decent daily currently halted thick stock 

TSLA  I was thinking it would be a sell the news event but its looking pretty strong as the layaway numbers best expectations 

ANY on my watchlist this week earnings now behind it may look to start building a swing after listening to the conference call 

FHCO has pulled back below 2 after a nice run >ZIKA virus meeting in Georgia today could be a beneficiary 1.75 or lower I may look to take a small swing entry 

TERP Tepper added to his position would only look to day trade it need some big volume 

This weeks Stocks to watch list and how they are tracking