Oil strength continued while the dollar had another day of weakness. Gold silver and miners had small bounces and could get some follow through if the dollar weakness were to continue. Oil on the other hand may be looking at a pause after 6 straight days of gains. We have the Baker hughes rig count @ 1 PM eastern which showed a big build in rigs last week. Another big build this week could be a bearish indicator for oil.
AMAT reported after the close raising guidance and getting a nice post market pop. That could bode swell for the SMH and the Nasdaq. The IBB and IWM are holding up extremely well and I will be watching to see if they can continue to hold over key levels of price support.
There is more chatter out there that the Fed could really be looking at raising rates in September. If the market starts to believe that is a real possibility we could see the markets react but it difficult to see the Fed actually making that move in the current global environment. However, financials ETF's are flagging out nicely in a tight consolidation and if the Fed were to raise they would benefit. Its worth watching the space and could be a good sector to consider taking starter swing or long term hold positions in.
While I may personally believe that the Fed is going to be like a deer in the headlights for a considerable amount of time. If they were to raise rates (notice the big if..?) the dollar would strengthen and the weakness in gold and silver would likely increase in this scenario.
NUGT and JNUG are getting hit premarket if that continues JDST and DUST could present good trade opportunities
Today's Markets
In Asia, Japan +0.4% to 16545. Hong Kong -0.4% to 22937. China +0.1% to 3108. India -0.2% to 28077.
In Europe, at midday, London -0.2%. Paris -0.8%. Frankfurt -0.4%.
Futures at 6:20, Dow -0.2%. S&P -0.3%. Nasdaq -0.3%. Crude -0.1% to $48.83. Gold -0.5% to $1350.40.
Ten-year Treasury Yield +1 bps to 1.54%
Today's Economic CalendarIn Europe, at midday, London -0.2%. Paris -0.8%. Frankfurt -0.4%.
Futures at 6:20, Dow -0.2%. S&P -0.3%. Nasdaq -0.3%. Crude -0.1% to $48.83. Gold -0.5% to $1350.40.
Ten-year Treasury Yield +1 bps to 1.54%
1:00 PM Baker-Hughes Rig Count
STOCKS ON MY RADAR PREMARKET
*PR = Press Release
GEO continuation bounce play after yesterday's selloff
EXEL Smoking hot looking daily potential 11 roll
CRMT earnings beat getting a little action premarket flirting with a 33 roll another fairly hot looking chart
CODI insider buy 30 17.10 small float could be at a good area of support
JONE pr priced offering @ 2.77 a share raised 132 mil still a fairly small float after the raise could get a 3 test
GEO continuation bounce play after yesterday's selloff
EXEL Smoking hot looking daily potential 11 roll
CRMT earnings beat getting a little action premarket flirting with a 33 roll another fairly hot looking chart
CODI insider buy 30 17.10 small float could be at a good area of support
JONE pr priced offering @ 2.77 a share raised 132 mil still a fairly small float after the raise could get a 3 test
The stocks discussed in this week's Ticker Tv are listed below
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