Friday, July 29, 2016

Failure Is Inevitable


Good morning folks, 
AMZN and GOOG both reported stellar earnings after the close giving more fuel to the NASDAQ for potential continuation to all time highs. The SPY and IWM continued the healthy consolidation working off overbought conditions and building up some energy. The IBB was looking weak at one point looking like we were going to fail at the 287 level. However, it wound up climbing back with an impressive close near the high of the day. The SMH had its second day of rest pulling back only slightly on the day. 

 We saw another day of weakness in the dollar and that could continue depending on what news comes out of Japan on their fiscal policy. Oil joined the dollar continuing its slide towards the 40 dollar a barrel level and we have rig counts coming out later today that could add to that pressure. If we crack 40 that could become problematic for the high yield ETF's and the markets themselves. The price of oil and the markets have been decoupled as of late but that could change if oil really starts tanking again. Even though oil has has such a precipitous decline the energy names have held up fairly well but we have earnings from EXXON and Chevron this morning and that could impact the sector.  

Gold silver and the miners took a little break after the powerful snap back they had yesterday. If the markets really started to break down on big volume you could see the rush to safety trade come back in full force. That may be a stretch since it appears as though earnings are at least satisfying the bulls enough to stay involved and in control.

There has been some noticeable weakness in the transportation sector and that is worth keeping an eye on but there are many more sectors that look pretty bullish as they consolidate. This morning we are flashing red premarket but the GDP numbers, consumer sentiment or Chicago PMI could change that. 

I will be doing this weeks market wrap after the close and I will also be doing the TICKER TV stocks to watch on Sunday 8 AM Vegas time. 


Today's Markets 
In Asia, Japan +0.6% to 16529. Hong Kong -1.28% to 21891. China -0.5% to 2979. India-0.6% to 28054.
In Europe, at midday, London -0.1%. Paris +0.1%. Frankfurt +0.5%.
Futures at 6:20, Dow -0.1%. S&P -0.1%. Nasdaq flat. Crude -0.7% to $40.85. Gold -0.1%to $1340.40.
Ten-year Treasury Yield Flat at 1.52%
Friday's Economic Calendar

                                                               Alphawolftrading.com 
We are ready to launch Alpha Wolf Trading
I couldn't be more ecstatic to share with you what we have been working so hard on these last several months. 

Monday August 1st 2016 will be our official launch and I can't wait to see where this leads to next.

Thanks to all of you that have been following me for the last several years and to all the people that have reached out to share their stories. It is because of you that I am taking this next step and it is my best hope that you will come along with me on this new and exciting  journey. 

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

YRCW Earnings beat likely going to have resistance at the 200 day moving average which also happens to be the 11 dolla holla 

ENVA earnings beat potential 8 roll small insider buys 5.76-5.90 small float 

LYV earnings beat Gapper don't chase more of a swing would like to get it on a pullback to support 

CWST earnings beat nice looking trend on the daily small float flirting with a 9 roll likely to see resistance @ 10 could be a swing candidate 

AVDM potential continuation 4 test and roll 

MOBL earning better than expected recent insider buys @ 3.90 a share 50k

SNMX earnings beat potential 3 roll thin stock don't chase could go test 3.40 resistance 

ACTG earnings beat small float lots of insider buying in the 4 and change range potential 6 dolla holla test 

ALIM potential continuation after a late day pop over the 2 dolla holla yesterday insiders still underwater from their buys @ 2.98 and 3 bucks

Stocks in the Ticker TV Stocks to watch videos this week