Never Quit

Good morning folks 

The markets are flashing red premarket after we had the dollar find some strength yesterday while oil and gold pulled back. In my opinion the tone of the market has changed and the psychology is about to be tested. If we continue to see weakness and start taking out some key technical levels we are going to see fear begin to elevate and with fear comes volatility. 

In this type of market it is very challenging to take longs for breakouts. The better setup to watch for is the bounce play off some type of support like VWAP, moving averages, or as we talked about over the weekend going long short biased ETF's or playing volatility with UVXY TVIX and XIV. In the Traders Den chat room (http://www.chatzy.com/TradersDen)  Grimm had a tremendous day trading them yesterday. She has found a niche that works extremely well for her when the markets become more erratic. 

Earning season continues with some big names reporting after the close and we all know that earnings have not been that impressive thus far. We get quite a bit of economic data today and we also have the big jobs number on Friday that could be a market moving event. Today's petroleum inventory report could play havoc with oil and energy related names when they come out at 10:30 ET so anticipate some volatility in the sector. 

Today's Markets 

In Asia, Japan closed. Hong Kong -0.7% to 20524. China -0.1% to 2991. India -0.5% to 25102. 
In Europe, at midday, London -1.2%. Paris -0.7%. Frankfurt -0.8%. 
Futures at 6:20, Dow -0.6%. S&P -0.7%. Nasdaq -0.7%. Crude +0.1% to $43.71. Gold -1.1% to $1277.60. 
Ten-year Treasury Yield flat at 1.79%

Today's Economic Calendar

7:00 MBA Mortgage Applications
8:15 ADP Jobs Report
8:30 Gallup U.S. Job Creation Index
8:30 International Trade
8:30 Productivity and Costs
8:30 Treasury Refunding Quarterly Announcement
9:45 PMI Services Index
10:00 Factory Orders
10:00 ISM Non-Manufacturing Index
10:30 EIA Petroleum Inventories

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 

OCLR Earnings beat fairly small float gapper premarket 

PRMW nice daily small float potential 11 test and roll

HYH Earnings winner potential snap back play

AQXP has held up really well in a challenging tape 

ETSY earnings beat gapper potential ten test and roll could also set up for a pop and flop

NTRI earnings winner gapping premarket fairly small float 

Stocks discussed in this week Ticker TV video are below the video replay is in the Ticker Tv section the right of the page.