Wednesday, July 6, 2016

7 Rules Of Life

Good morning folks, 
We had a small pullback in the markets yesterday as the dollar strengthened and Oil pulled back. Gold continues to climb taking the miners with it. However, several of the miner ETF's are completely out of the upper bollinger band and we could see those take a pause or pull back a bit. 

One thing that could impact the strength in Gold and the dollar is the Fed minutes that will be released later today. My guess is the minutes will be fairly dovish and that could weaken the dollar. The minutes are from before the Brexit vote so that should be considered before putting to much emphasis on what is said. Mario Draghi is also scheduled to speak later today which could net some sort of reaction from the markets. 

We are looking at another red open as the pound is making fresh new lows and that is weighing on the markets while Germany factory orders also came in weak. It is not surprising that we are pulling back after the 4 day run but remember what we talked about in the market wrap video. If you are a bull what you do not want to see is a lower low to the recent pull we had after the Brexit vote was tallied. 

Today's Markets 
In Asia, Japan -1.9% to 15379. Hong Kong -1.2% to 20495. China +0.4% to 3017. India-0.4% to 27167.
In Europe, at midday, London -1%. Paris -2.2%. Frankfurt -2.2%.
Futures at 6:20, Dow -0.6%. S&P -0.7%. Nasdaq -0.8%. Crude -1.2% to $46.02. Gold+1.3% to $1376.50.
Ten-year Treasury Yield -3 bps to 1.33%
Today's Economic Calendar
Fed minutes 2 ET
ETF's on my Radar 
Volatility                                                               OIL                                      Biotech
UVXY XIV VXX TVIX                      UWTI DWTI GUSH DRIP USO       
 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

Agriculture                                  SPY     
DBA, DAG                           SPXS SPXL
MZOR Flirting with a 20 roll after updating system sales for the second Qtr small floater no debt but valuation is rich 

OCLS Recent reverse split Very tiny float pr is kinda fluffy don't chase 

VSR new contract > gapper super tiny float another one to watch for a setup don't chase it 

NFLX got a down grade with an 80 dollar price target > not sure it will get to 80 but there is a gap to fill on the daily to around 92 that could fill 

VRX potential bounce play needs to take out 20 with some conviction has been basing in this area for awhile don't chase it and watch for some real volume 

*PR = Press Release* 

This weeks Ticker Tv Stocks to watch and their performance below