Good morning folks,
I hope you had a restful and enjoyable holiday weekend.
Markets thies morning are flashing red as concerns about Brexit uncertainty reemerges and oil pulling back off slowing global growth concerns. Like we talked about in this weeks market wrap this shouldn't come as a total surprise since we identified coming up into some near term trendline resistance after a 4 day rally.
Gold and silver could continue its move higher taking the miners with them. Watch volatility if the weakness in the markets is accompanied by increased volume.
If you can't find the ideal setup don't try to force any trades. There is nothing wrong with sitting on your hands and being in cash if the market won't allow you to get involved on your terms.
Today's Markets
In Asia, Japan -0.7% to 15669. Hong Kong -1.5% to 20750. China +0.6% to 3006. India-0.4% to 27167.
In Europe, at midday, London +0.6%. Paris -1.1%. Frankfurt -1.4%.
Futures at 6:20, Dow -0.5%. S&P -0.6%. Nasdaq -0.6%. Crude -2.6% to $47.72. Gold+0.6% to $1347.60.
Ten-year Treasury Yield -8 bps to 1.38%
In Europe, at midday, London +0.6%. Paris -1.1%. Frankfurt -1.4%.
Futures at 6:20, Dow -0.5%. S&P -0.6%. Nasdaq -0.6%. Crude -2.6% to $47.72. Gold+0.6% to $1347.60.
Ten-year Treasury Yield -8 bps to 1.38%
Today's Economic Calendar
8:30 Gallup US ECI
10:00 Factory Orders
12:30 PM TD Ameritrade IMX
1:00 PM Gallup US Consumer Spending Measure
10:00 Factory Orders
12:30 PM TD Ameritrade IMX
1:00 PM Gallup US Consumer Spending Measure
ETF's on my Radar
Volatility OIL Biotech
UVXY XIV VXX TVIX UWTI DWTI GUSH DRIP USO LABD IBB LABU
VMIX VMAX
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
INSY FDA approval Gapper recent insider buying 12.41-12.94 17 could act as resistance on the daily
BCOR selling off a division already had a nice move into this news
BMY pr daily looks good has been consolidating could be looking at new all time highs Look at a yearly chart 75 will likely be an interesting area to try and get through > its had a nice 4 day run and its a thick stock probably a better swing or long term hold on a pullback
NCIT very tiny floater new contract not one to chase but could get some action off the news potential 14 roll
ROVI license news 15 could be a good bounce spot seems to be finding some support in this area insider buys in May 16.12-16.37 float under 100 mil 13 percent short interest
GILT contract announcement but no financial details > could potentially find some support around 4 foa bounce but its super tiny floater
BCOR selling off a division already had a nice move into this news
BMY pr daily looks good has been consolidating could be looking at new all time highs Look at a yearly chart 75 will likely be an interesting area to try and get through > its had a nice 4 day run and its a thick stock probably a better swing or long term hold on a pullback
NCIT very tiny floater new contract not one to chase but could get some action off the news potential 14 roll
ROVI license news 15 could be a good bounce spot seems to be finding some support in this area insider buys in May 16.12-16.37 float under 100 mil 13 percent short interest
GILT contract announcement but no financial details > could potentially find some support around 4 foa bounce but its super tiny floater
*PR = Press Release*
This weeks Ticker Tv Stocks to watch and their performance below
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