Yesterday the markets gapped up after polls showed the majority leaning towards staying in the EU. After the initial gap up in the markets we just chopped around. The polls continue to be very tight and depending on who is taking the pole the margin for which direction the majority is leaning is extremely thin. We won't know with certainty exactly what is going to happen until the vote has been tallied. However it looks as though we are going to have another green open off the easing of Brexit fears.
Janet Yellen starts her 2 day semiannual testimony in front of congressional members. The comments from Yellen will be dissected as members from congress show how smart they are by grilling Yellen and asking all types of mentally stimulating questions. <(SARCASM) It is almost guaranteed to be a real snooze fest.
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Technically the indexes are holding up fairly well as we had decent bounces in the IBB, IWM and SMH. However, the lack of follow through made it feel more like a head fake than a powerful reversal. I remain cautious until after we have clarity on the Brexit vote and we get through the next two days of Yellens comment and we might as well throw in the this weeks jobless claims.
Oil energy, the dollar and precious metals remain areas of interest where I think we could see some volatility. Home builders couldalso be in play after the Lennar earnings beat.
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ETF's on my Radar
Volatility OIL Biotech
UVXY XIV VXX TVIX VMIX VMAX UWTI DWTI GUSH DRIP USO LABD IBB LABU
UVXY XIV VXX TVIX VMIX VMAX UWTI DWTI GUSH DRIP USO LABD IBB LABU
Gold SILVER Dollar Financials
GLD NUGT JNUG USLV UUP FAS XLF FAZ HYG JNK
Minerals and Miners Utilities RETAIL Transportation
XME GDX GDXJ XLU XRT IYT XTN
DUST JDST
Agriculture SPY
DBA, DAG SPXS SPXL
STOCKS ON MY RADAR PREMARKET
OPK FDA approval potential 10 roll CDXC could get a bounce after a short hit piece took them down yesterday Small floater
TBPH hot looking daily potential 23 roll off pr
NERV potential continuation off yesterdays move flirting with an 11 roll another very thin floater
PGNX flirting with a 5 roll off pr
*PR = Press Release*
This weeks Ticker Tv Stocks to watch and their performance below
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