Start Fresh

Good morning folks, 
It appear as though nothing can slow this market down. After the big meeting about nothing on Sunday oil initially took a sharp turn lower but managed to find its footing after the market opened on Monday. The oil sector actually held up extremely well and there were even some exploration names that managed to close out higher on the day even though oil was down. The markets were also able top power higher with the DOW closing over 18K. 

We have talked about this being one of the most hated rallies because so many have missed the run. It will become a lot more hated if the run continues or even picks up strength. We talked about the HUGE short position in the SP-500 and how it could become the fuel that drives us higher if earnings come in better than anticipated. 

Technically we had a good day yesterday. The IBB which we have been paying close attention to looks like its ready to try and take out that 285 level. The high yield ETF HYG showed some strength indicating the the appetite for risk is still out there. The IWM also had a nice day indicating there is strength in the small cap space which shows their is some breadth to the strength in the markets and not just one or two sectors.

The agricultural ETF DBA had a nice move and that remains a sector that is in focus for the near term. Several stocks in the sector look compelling CF POT MOS TWI just to name a few.

Gold actually did not do much yesterday and could just be treading water before it resumes its move higher. Watch the strength of the dollar if it starts rising that could put pressure on Gold. If the dollar breaks down gold will likely rip higher. We have some strong action premarket in SLV and GLD names on the heels of some strong action in markets around the globe.

Volatility is still non existent so TVIX and UVXY should be avoided until complacency comes out of the markets and fear takes over. 

Today's Markets 

In Asia, Japan +3.7% to 16874. Hong Kong +1.3% to 21436. China +0.3% to 3042. India closed.
In Europe, at midday, London +0.4%. Paris +1%. Frankfurt +2.2%.
Futures at 6:20, Dow +0.4%. S&P +0.5%. Nasdaq +0.8%. Crude +1.6% to $40.41. Gold+0.8% to $1244.30.
Ten-year Treasury Yield +1 bps to 1.78%

Today's Economic Calendar

8:30 Housing Starts
8:55 Redbook Chain Store Sales

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  

Agriculture 
DBA, DAG

Stocks on my Radar Premarket 

SGYP  FDA news lil gapper premarket potential 4 test and roll 

DVAX PR after the close flirting with a 22 roll on the daily 

VRX looks like it may have found its bottom need a 34 roll with some conviction 

NFLX  Reported earnings could be a wild one for some scalp opps 

GIG Upgrade flirting with a 3 roll 
IDRA News Flirting with a 2 roll 

Stocks in this weeks TICKER TV watch list and how they are tracking