Good morning folks
Yesterday we saw oil pull back a bit while Gold and the miners took a dive as the dollar continued to gain strength. The NASDAQ continued the bounce from Friday while the IBB also gave us a little bit of a snap back.
This morning we are seeing strength around the globe with comments out of Japan to intervene in in the currency markets while China consumer inflation stayed flat and wholesale prices also declined but at a slower pace.
The solar sector is taking it on the Chin this morning after earnings from Solarcity disappointed. If oil continues to pull back the solar sector could be looking at much more pain ahead.
Financials held up fairly well yesterday and could be a sector to pay close attention to along with the high yield ETF's HYG and JNK.
DIS reports after the close and most on the street expect them to crush estimates after the blockbuster success of several of their recent movie releases. The daily chart on DIS looks like we had a double to back in Dec and its trying to grind its way back. It would be good to see a strong number and see the stock stay above its 200 day but if they disappoint we could easily see a retest of the recent lows.
The health care sector specifically the IYH and XLV ETFs had a nice bounce yesterday and if they can take out the 200 day with conviction we would likely see some nice movers within the space.
Overall the markets are putting up a good fight and holding up better than I thought they would but we need a catalyst in either direction to give a clear trend to trade instead of this choppy action.
Today's Markets
ETF's on my Radar
Yesterday we saw oil pull back a bit while Gold and the miners took a dive as the dollar continued to gain strength. The NASDAQ continued the bounce from Friday while the IBB also gave us a little bit of a snap back.
This morning we are seeing strength around the globe with comments out of Japan to intervene in in the currency markets while China consumer inflation stayed flat and wholesale prices also declined but at a slower pace.
The solar sector is taking it on the Chin this morning after earnings from Solarcity disappointed. If oil continues to pull back the solar sector could be looking at much more pain ahead.
Financials held up fairly well yesterday and could be a sector to pay close attention to along with the high yield ETF's HYG and JNK.
DIS reports after the close and most on the street expect them to crush estimates after the blockbuster success of several of their recent movie releases. The daily chart on DIS looks like we had a double to back in Dec and its trying to grind its way back. It would be good to see a strong number and see the stock stay above its 200 day but if they disappoint we could easily see a retest of the recent lows.
The health care sector specifically the IYH and XLV ETFs had a nice bounce yesterday and if they can take out the 200 day with conviction we would likely see some nice movers within the space.
Overall the markets are putting up a good fight and holding up better than I thought they would but we need a catalyst in either direction to give a clear trend to trade instead of this choppy action.
Today's Markets
In Asia, Japan +2.2% to 15565. Hong Kong +0.4% to 20242. China flat at 2832. India +0.3% to 25772.
In Europe, at midday, London +0.8%. Paris +1.1%. Frankfurt +1.2%.
Futures at 6:20, Dow +0.6%. S&P +0.6%. Nasdaq +0.6%. Crude +1% to $43.89. Gold flat at $1266.40.
Ten-year Treasury Yield flat at 1.76%
Today's Economic CalendarIn Europe, at midday, London +0.8%. Paris +1.1%. Frankfurt +1.2%.
Futures at 6:20, Dow +0.6%. S&P +0.6%. Nasdaq +0.6%. Crude +1% to $43.89. Gold flat at $1266.40.
Ten-year Treasury Yield flat at 1.76%
6:00 NFIB Small Business Optimism Index
8:55 Redbook Chain Store Sales
10:00 Job Openings and Labor Turnover Survey
10:00 Wholesale Trade
1:00 PM Results of $24B, 3-Year Note Auction
8:55 Redbook Chain Store Sales
10:00 Job Openings and Labor Turnover Survey
10:00 Wholesale Trade
1:00 PM Results of $24B, 3-Year Note Auction
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
Agriculture
DBA, DAG
Stocks on my Radar Pre market
CCXI thin float bio up 100 percent premarket off Decent PR could be a crazy runner if the IBB continues to hold strong
SPNS earnings decent looking daily small float good balance sheet
SPA super tiny float contract news could get squeezy need some real volume don't chase it
HIIQ earnings super tiny float decent short interest Flirting with a 7 roll definitely not one you want to chase
AGN Potential continuation of yesterdays bounce after earnings
Stocks in this weeks stocks to watch video below
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