Choose Which One To Surf

Good morning folks,
The Fed was just a tad bit hawkish suggesting a potential rate increase as early as September however the market didn't seem to buy it. The dollar actually pulled back while Gold, Silver and miners had a nice snapback after the recent rout. Not the action you would expect to see if a rate raise is on the near term horizon. 

Oil remained weak after the petroleum inventory numbers hit the street and energy names finally started to feel the effect. We get rig counts on Friday which have been climbing for the last several weeks. If that trend continues it could put even more pressure on Oil which already looks like it wants to test 40 dollars a barrel as potential support. 

FB crushed earnings after the close and gapped post market which could be good for the NASDAQ.  The IBB closed right at the potential resistance I highlighted in this weeks market wrap video. If we can take out this area of resistance with conviction I think a 300 test is a real possibility. The IWM also closed strong which bodes well for the small caps which have been on fire. The SMH had a small pull and it wouldn't be a big shocker if we saw more of a pullback or at the very least some consolidation after the big move it has had.

The SPY is still in consolidation, mode working off overbought conditions through time. This has been a big week for earnings and the results so far have not been earth shattering but they have been decent, and that seems to be enough for the bulls. 


Today's Markets 

In Asia, Japan -1.1% to 16477. Hong Kong -0.2% to 22174. China +0.1% to 2994. India +0.7% to 28208. 
In Europe, at midday, London -0.2%. Paris -0.1%. Frankfurt flat. 
Futures at 6:20, Dow +0.1%. S&P +0.1%. Nasdaq flat. Crude -0.2% to $41.82. Gold +0.9% to $1347. 
Ten-year Treasury Yield flat at 1.5%

Today's Economic Calendar

8:30 International trade in goods
8:30 Initial Jobless Claims
9:45 Bloomberg Consumer Comfort Index
10:30 EIA Natural Gas Inventory
11:00 Kansas City Fed Mfg Survey
1:00 PM Results of $28B, 7-Year Note Auction
4:30 PM Money Supply
4:30 PM Fed Balance Sheet

ETF's

 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 

*PR = Press Release

ARWR love the chart flirting with a 6 roll right sector trendline break but has earnings coming up soon 

ONVO another good looking daily in the right sector with earnings right around the corner

GRPN earnings pop gapping premarket > closed the gap on the daily see if it can get some continuation > can be a pop and flopper so do not chase > trades at a high PE so it may be a low priced stock but its not cheap 

STB news after the close spike and halt 

UNIS named a new CEO thin stock looking for a potential 4 test and roll  recent reverse split > just a day trade Lots of debt

BZH earnings beat nice looking daily gapping premarket 

CRR earnings better than expected potential 12 test and roll small float big short interest trades significantly below book value > could be one to watch for a swing

CCMP hot looking daily earnings beat small floater Potential 47 roll 

YNDX earnings beat and raise lots of call activity lately gapping premarket could be more of a swing type on a pullback 

Stocks in the Ticker TV Stocks to watch videos this week