Accept The Challenge

Good morning folks,
In last weekends videos we talked about retail and the technical damage we were seeing on the charts and yesterdays action after the Macy's report certainly didn't make that chart look any better. We get earnings from a couple more high profile retailers this morning before the open and we will see if the negative trend continues. Kohl's numbers just came out and it looks like a repeat of Macy's earning miss and guide down.

Oil rose yesterday after a bigger than anticipated inventory draw. Gold continued to move higher taking the miners with it while the dollar weakened after being up six days in a row.
Yesterday was the complete opposite of the day before with nearly every other sector pulling back that wasn't commodities related. Agriculture also showed a bit of strength.  

I mentioned yesterday that I remain in the bearish camp for the overall markets. That could change at any moment if I see something either technically or fundamentally that warrants the change of heart. However there are still plenty of opportunities to trade stocks or sectors that may be bucking the trend. 

We have three Fed members speaking today and that could give us some volatility depending on what type of rhetoric comes spewing out of their mouths. We also get jobless claims which can impact the market if the number comes in as a surprise beat or miss. 

Today's Markets 

In Asia, Japan +0.4% to 16646. Hong Kong -0.7% to 19915. China flat to 2835. India +0.8% to 25790. 
In Europe, at midday, London +0.1%. Paris +0.6%. Frankfurt +0.6%. 
Futures at 6:20, Dow +0.4%. S&P +0.5%. Nasdaq +0.5%. Crude +0.8% to $46.61. Gold -0.4% to $1270. 
Ten-year Treasury Yield flat at 1.75%

Today's economic calendar:
8:30 Initial Jobless Claims
8:30 Import/Export Prices
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
11:00 Fed's Mester: Monetary policy
1:00 PM Results of $15B, 30-Year Note Auction
2:15 PM Fed's George speech
4:30 PM Money Supply
4:30 PM Fed Balance Sheet

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 Pre market 

 MON  Buyout rumors 
HIMX Earnings beat potential 11 roll  
AVID IPI EXEL WTW insider buys announced after the close for all >Decent looking charts
EVTC earnings beat potential trend line break  
HEAR potential continuation
BWEN contract announcement former runner very thin stock potential 4 roll 
PBMD Contract announcement gapper premarket 1 dollar roll potential continuation 
ORIG Hot looking daily full disclosure started a little swing yesterday

Stocks in this weeks stocks to watch video below