Wednesday, September 7, 2016

Stay Away

Good morning folks, 
Oil and energy had a nice bounce yesterday along with a continuation of strength in Gold, Silver and the miners while the dollar had a swift pullback. Weak economic data points to the the Fed having a difficult time justifying a rate increase in September. However, we have the Fed Beige book today at 2 and a few other data points that will be released today that could change the tone yet again.

The IBB and healthcare sector showed a little resilience managing to bounce back over what could be key technical support but we need to see more strength before we can call it anything more than a dead cat bounce. 

We are still consolidating in several indexes with a slightly bullish edge, semi's, shippers, financials, and small caps continue to look intriguing.

Besides the economic data, and the Fed's beige book, AAPL is having a big event today that could impact the NASDAQ which has been making new all time closing highs. 

Today's Markets 
In Asia, Japan -0.4% to 17012. Hong Kong -0.2% to 23741. China flat at 3091. India -0.2% to 28926.
In Europe, at midday, London +0.1%. Paris +0.3%. Frankfurt +0.4%.
Futures at 6:20, Dow flat. S&P -0.1%. Nasdaq +0.1%. Crude +1% to $45.29. Gold-0.1% to $1352.20.
Ten-year Treasury Yield flat at 1.54%
Today's Economic Calendar
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*PR = Press Release

PGNX and VRX PR after the close could get some follow through

AAOI gapping off raised guidance had a nice run into that news could pull back

RTRX gapping off phase 2 data small floater plenty of cash 20 percent short interest look for an intraday setup don't chase it 

CLCD big runner yesterday could get some follow trough already gapping  premarket Don't chase look for a setup 

Stocks discussed in this week's Ticker Tv Live Session Listed Below


Sept 2- 9th 2016 Free Weekly Market Wrap and Sector Watch from Alpha Wolf Trading on Vimeo.