Relentless

Good morning Folks, 
Yesterday was another day of consolidation. Earnings are coming in mixed and the markets are looking for something to help determine which direction the next significant move will be. One thing that did stand out to me in last nights scans was the dollar looking like its breaking out of the flag it has been consolidating in on the daily. A strong dollar could be problematic for the big multinationals as well as gold, silver, and oil. Its worth paying attention to the dollar either with DXYO or UUP.

The IBB is at an area of potential resistance and if it breaks down here the concern would be that this becomes a lower high leading to a lower low. 240 is a key level of potential support that the bulls would like to see remain intact.

Premarket we are flashing some green but I would not be surprised if we were to have another day of consolidation. 

The markets are extremely complacent with not even a hint of volatility which is actually a bit unsettling for me. As more earnings come in hopefully we will get a clearer picture of where we are headed but for now things still look pretty good for the bulls. 


Today's Markets 

In Asia, Japan -0.3% to 16682. Hong Kong +1% to 21882. China -0.3% to 3028. India +0.5% to 27916. 
In Europe, at midday, London +0.3%. Paris +1.2%. Frankfurt +1.4%. 
Futures at 6:20, Dow +0.4%. S&P +0.3%. Nasdaq +0.3%. Crude +0.3% to $45.59. Gold -0.5% to $1325.30. 
Ten-year Treasury Yield +2 bps to 1.57%

Today's Economic Calendar

7:00 MBA Mortgage Applications
10:30 EIA Petroleum Inventories

Watch These 10 Huge Call Purchases In Wednesday Trade

Benzinga's newsdesk monitors options activity to notice unusual patterns. These large volume (and often out of the money) trades were initially published intraday inBenzinga Professional . These trades were placed during Tuesday's regular session.

• Alibaba Group Holding Ltd (NYSE: BABA) Aug16 85.0 Calls: 3000 @ ASK $1.57: 8215 traded vs 24k OI: Earnings 8/10 $82.33 Ref
• The Medicines Company (NASDAQ: MDCO) Sep16 38.0 Calls Sweep: 800 @ ASK $2.00: 800 traded vs 0 OI: Earnings 8/3 $34.46 Ref
• Oclaro, Inc. (NASDAQ: OCLR) Sep16 5.0 Calls Sweep: 1024 @ ASK $0.90: 2980 traded vs 0 OI: Earnings 8/2 $5.43 Ref
• Micron Technology, Inc. (NASDAQ: MU) Oct16 17.0 Calls Sweep: 20001 @ ASK $0.16: 20k traded vs 1599 OI: $13.10 Ref
• OneMain Holdings Inc (NYSE: OMF) Aug16 30.0 Calls: 2000 @ ASK $1.15: 2070 traded vs 15 OI: Earnings 8/4 $27.83 Ref
• Lockheed Martin Corporation (NYSE: LMT) Aug16 300 Calls: 500 @ ASK $0.10: 6500 traded vs 68k OI: $256.33 Ref
• Activision Blizzard, Inc. (NASDAQ: ATVI) Aug16 43.0 Calls Sweep: 832 @ ASK $1.26: 891 traded vs 12k OI: Earnings 8/4 After Close $41.67 Ref
• ConocoPhillips (NYSE: COP) Aug16 43.5 Calls Sweep: 980 @ ASK $0.81: 980 traded vs 18 OI: Earnings 7/28 Before Open $41.81 Ref
• Ford Motor Company (NYSE: F) 7/29 13.5 Calls (Wkly) Sweep: 2311 @ ASK $0.27: 15k traded vs 11k OI: Earnings 7/28 Before Open $13.55 Ref
• New Oriental Education & Tech Grp (ADR) (NYSE:EDU) Aug16 43.0 Calls: 1000 @ ASK $1.45: 2000 traded vs 59 OI: Earnings Today Before Open $41.54 Ref

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

MRVL earnings better than expected could get a 10 roll could be more of a swing type 

TBIO tiny floater with non specific PR about a licensing deal could get some action but do not chase >likely need to raise capital soon

CERU potential 3 roll continuation after volume spike yesterday another small floater possible red to green move 

MOBL CEO recently bought shares @ 3.90 potential trendline break, need to take out 3.50 with conviction 

PGNX pr after the close gapping premarket flirting with a six roll FDA approval 

VRX also could get some play off the news  

TWER potential continuation, recent reverse split  gapping premarket don't chase it 3.80 acting as resistance 

GLBL gapping premarket right into resistance at the 4 dolla holla > may get some follow through decent short position and a small float 

HTBX small penny stock may try to get a 1 dolla holla > Recent CEO buy @ .75 cents a share started moving late yesterday could get some follow through 

ONVO pr flagging on the daily could get a 4 test and roll > don't chase > can be a pop and flopper but the daily does have a nice look 

 Stocks on my radar from this weekends scans