Relief Rally ??

Good morning folks, 
We are looking at what appears to be a relief rally after wiping out nearly 3 trillion dollars in global wealth over a couple of trading days. Yesterday was a very odd day as gold climbed but the miners did not follow. Volatility remained fairly tepid as the markets broke through what should have been considered significant technical support. Oil was weak pulling down the energy names as the dollar continued its strength. Biotech, transportation, financials, retail, semiconductors, tech, retail, home builders, aerospace & defense, small caps, mid caps, it didn't matter where you looked there really wasn't anywhere to hide accept for the utilities sector.
This morning we are seeing a small bounce premarket after a little relief rally around the globe. 

We may have a gap and grind kind of day here in our markets as we try to find some solid footing. We have done some significant technical damage and what was support should now become resistance. There may be some short term trading opportunities but we have a lot of work to do before the markets would start to look healthy again. We have been conditioned over the last eight years to buy the dip. Like we talked about this weekend on Ticker TV > one of these times buying the dip isn't going to work. Tread carefully out there and keep your caution cap on. 
Don't chase anything and make sure you have a clearly defined risk reward plan. 

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Today's Markets 

In Asia, Japan +0.1% to 15323. Hong Kong -0.3% to 20172. China +0.6% to 2913. India+0.5% to 26525.
In Europe, at midday, London +2.5%. Paris +2.5%. Frankfurt +2.1%.
Futures at 6:20, Dow +1.1%. S&P +1%. Nasdaq +1%. Crude +2.6% to $47.54. Gold -1%to $1311.
Ten-year Treasury Yield +2 bps to 1.48%

Today's Economic Calendar

8:30 GDP Q1
8:30 Corporate Profits
8:55 Redbook Chain Store Sales
9:00 S&P Case-Shiller Home Price Index
10:00 Consumer Confidence
10:00 State Street Investor Confidence Index
10:00 Richmond Fed Mfg.

ETF's on my Radar 

Volatility                                                               OIL                                      Biotech
UVXY XIV VXX TVIX                      UWTI DWTI GUSH DRIP USO       LABD IBB LABU  
VMIX VMAX      

 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

SCYX buys 100k @ 2.39 Book value 2.52 small floater 

TASR pr more of a swing  or long term hold type 20 or below would be a nice area to start building a position Flirting with a 23 roll premarket 

MGNX pr also flirting with a 23 roll small float getting upfront payment of 75 mil announced the deal in May

BCS  potential snap back bounce play

NDRM PR gapper premarket  tiny floater 

*PR = Press Release* 

This weeks Ticker Tv Stocks to watch and their performance below