Signs of weakness

Good morning Folks 
Yesterday we had some weakness across the board and we are looking as though we have more on the way. The SPY broke some technical levels of support yesterday and that led to a bit of a sell-off. I have been saying that the market is innocent until proven guilty. If we continue to pick up steam on this pullback it could get a bit uncomfortable for the bulls. Many of the sweet setups I had from over the weekend have been broken and no longer look as attractive as they did just a couple of days ago.

I had one trade yesterday and I will likely be sitting on the sidelines today. There are some interesting short opportunities out there but I am more of a long biased trader. I will however be looking to play volatility or some short biased ETF's if the opportunity presents itself. I will be watching Gold and miners as well today. Many of the momo names like GPRO TSLA  AAPL BABA and YHOO  are pulling back and their charts are NOT looking all that attractive so be careful out there. 

Stocks on my Radar
JNUG NUGT TVIX TZA on radar, BLUE big gapper off of pr, CTIX possible continuation or red to green, 


Seeking Alpha

Today's Markets:
In Asia, Japan -0.7% to 17813. Hong Kong -2.3% to 23486. China -5.4% to 2856. India -1.2% to 27797.
In Europe, at midday, London -1%. Paris -1.1%. Frankfurt -0.8%.
Futures at 6:20: Dow -0.3%. S&P -0.3%. Nasdaq -0.4%. Crude +1.4% to $63.91. Gold +1% to $1207.10.
Ten-year Treasury Yield +1 bps to 2.27%

Today's economic calendar:
7:30 NFIB Small Business Optimism Index
7:45 ICSC Retail Store Sales
8:55 Redbook Chain Store Sales
10:00 Wholesale Trade
10:00 Job Openings and Labor Turnover Survey
1:00 PM Results of $30B, 3-Year Note Auction

Notable earnings before today's open: AZO, BURL, CONN, HDS, JW.A, PTRY,SAIC, UTIW

Notable earnings after today's close: KFY, KKD, NCS

CNBC in the News

› More Pre-Markets Data

	IN THE NEWS TODAY

U.S. stock futures were lower in early trading, following a global rout led by a 5.3 percent decline in Chinese equities.Greek stocks crashed 11 percent on political strife. The Dow dropped triple-digits Monday in its worst session since October as oil plunged. (CNBC) Billionaire value investor Mario Gabelli and longtime bull Jeremy Siegel join CNBC's "Squawk Box" at 8 a.m. ETwith their thoughts on whether stocks can get back their mojo and whether the drop in oil helps or hurts the economy. Crude prices steadied early today, after tanking 4.2 percent in New York and taking energy stocks lower. A sharp drop in shares of Apple (AAPL) also contributed to the sell-off on Wall Street. (CNBC) In an unusual legal twist, a federal judge has decided a billion-dollar, class-action lawsuit over Apple's iPods should continue, even though the only remaining plaintiff was disqualified. Lawyers suing Apple must identify a new lead plaintiff by today. Amazon (AMZN) is testing one-hour delivery via bicycle messenger in New York City. Separately, the e-commerce giant is rolling out functionality to allow buyers and sellers to negotiate prices. (WSJ & USA Today) Portland, Oregon, has launched a lawsuit to stop Uber from operating there. Separately, Thailand ordered the ride-hailing service to halt operations after a driver was arrested and accused for rape in the Indian capital New Delhi. (Reuters) Swiss-based Supreme Foodservice has pleaded guilty to overcharging the U.S. for food and bottled water provided to armed forces in Afghanistan and agreed to pay $434 million in fines and damages. (Reuters) Tesco today warned again on earnings as the U.K. supermarket chain deals with allegations of accounting irregularities. Warren Buffett, who told CNBC he made a mistake investing in Tesco, unloaded most of his stake in October. But Buffett's Berkshire Hathaway Class A shares (BRK.A) closed at a record high of $227,800 Monday, bumping him up to the world's second-richest man. In March, Forbes said he was No. 4 on its billionaires list. (CNBC) A group claiming responsibility for last month’s massive computer hack at Sony Pictures demanded the studiocancel the release of "The Interview," a comedy that depicts an assassination plot against North Korea's leader. (Reuters) American embassies and facilities around the world aretightening security, ahead of today’s release of a report on the CIA's harsh interrogation techniques after the 9/11 terror attacks. (AP) Britain's Prince William and his wife, Kate, are scheduled to visit one of New York City's most somber sites, the NationalSept. 11 Memorial and Museum this morning. (AP) Demonstrators marched through Berkeley for a third night a row, blocking a major California highway in protest of grand jury decisions not to indict white police officers in the deaths of two unarmed black men. (AP) A second nor'easter in two weeks hits the Interstate 95 corridor starting today, prompting winter storm watches and warnings in six states. (NBC News)

	BY THE NUMBERS

Americans plan to spend more on gifts this Christmas than in any holiday season in the past five years as economic optimism hits a post-recession high, according to the CNBC All-America Economic Survey. At 10 a.m. ET, the Labor Department issues its October JOLTS report, its measure of job opportunities and labor turnover. At the same time, the government is out withOctober wholesale inventories, expected to increase 0.3 percent following a similar increase in September. Auto parts retailer AutoZone (AZO) is among a small handful of companies issuing quarterly earnings this morning, whileKrispy Kreme (KKD) is on today’s short after-the-bell earnings list.

	STOCKS TO WATCH

Shares of Tesla (TSLA) were lower in the premarket, after the electric car maker lost 4 percent Monday and 12 percent since the beginning of December. Verizon (VZ) continues to see strong wireless customer growth and 4G device adoption during the current quarter,but warned this trend will put short-term pressure on profit margins. T-Mobile US (TMUS) announced a proposed public offering of nearly 17.4 million shares of mandatory convertible preferred stock. The shares will have a liquidation price of $50 per share. 20th Century Fox (FOXA) and Vice Media have decided tomake movies together, creating a film label focused on low-budget cinema described as “wild, weird, and high-concept.” Manchester United (MANU) will see the Glazer family further cut its stake in the soccer club, with the family trust planning to sell 3 million shares. The Glazers purchased Manchester United in 2005 for nearly $1.5 billion.

	WATERCOOLER

Barack Obama made his first in-person appearance on the “Colbert Report,” which ends later this month as Stephen Colbert prepares to take over the CBS “Late Show” next year. (USA Today)

Best of Success!