Pyramid of Success

Good morning folks, 
We are within a whisper of all time highs once again but we continue to experience choppy action in the markets as we climb the wall of worry.
Earnings continue to roll in and they have generally better thank I think most had anticipated. Economic data has been coming in weaker than anticipated and the employment report this Friday could be a market moving event. It appears as though we may still be in the midst of a sector rotation and the markets themselves lack real conviction as they attempt to retest highs. IBB bounced off its 100 day but has a lot of work to do to get back above its all time high. The IWM has closed above 122 and it appears as though its 100 day is also serving as support. The SP500 is looking like a possible flat top break out on the daily and volatility remains non existent. We may be overbought, and way overdue for at least a ten percent correction but the the technical s and the lack of fear don't paint that picture in the near term. 

We are seeing a little red premarket but that is to be expected after having a couple of positive moves. 

Stocks on my Radar premarket  
TASR pr testing all time highs DGLY and ISNS possible sympathy plays but they are all up quite a bit so be careful, PTBI gapper of Soros position, GENE potential continuation, RDWR pr could bounce off MA nice looking daily, ARQL pr nice looking daily a break over 2.25 230 could send it, GLNG pr potential continuation of yesterdays break out, EFOI thin one big gapper off earnings  


CNBC in the News
 

	IN THE NEWS TODAY

U.S. stock futures were lower in early trading, as Wall Street seeks to keepits May winning streak alive after a bumpy end to April. The S&P 500 traded above its all-time closing high for much of the Monday session, but closed shy of another record. (CNBC) Walt Disney (DIS) moved its earnings release from this afternoon to this morning to allow employees to attend the funeral of David Goldberg, CEO of SurveyMonkey and husband of Facebook 's Sheryl Sandberg, who serves on Disney's board. (CNBC) Cisco Systems (CSCO) is set to unveil new broadband-related productstoday, in hopes of cashing in on a move by cable companies to boost their broadband delivery speeds. Monday, Cisco said CEO John Chambers ishanding over the reins. (CNBC) The Pimco Total Return Fund, launched by Bill Gross, has lost its title as the world's biggest bond mutual fund, following two years of withdrawals. Gross left the company he founded to join Janus Capital (JNS). (Reuters) David Tepper, the richest guy in the hedge industry for three years running, got knocked off his perch in 2014. Citadel's Ken Griffin took the top spot, with $1.3 billion in fees and earnings on his capital. (CNBC) With speculation rife over how long Saudi Arabia is content to see oil prices slump, the country's oil minister told CNBC that "only Allah" knows where prices are heading. Meanwhile, crude was higher this morning. Microsoft (MSFT) co-founder and philanthropist Bill Gates, the richest person on the planet, told CNBC there are times when profits should not be the sole motivating factor for entrepreneurs. As drug prices continue to fall under ever-increasing scrutiny, spending on cancer medicines has hit a new milestone: $100 billion in 2014. That's up more than 10 percent from 2013. (CNBC) Islamic State militants claimed responsibility for Sunday's attack at an event in Texas showcasing cartoons of the Prophet Mohammed. The two gunmen were killed by police. (AFP) Former Arkansas Gov. Mike Huckabee is preparing to launch today another bid for the Republican presidential nomination, joining a crowded field of White House hopefuls. (AP) Despite recent negative stories, Democratic presidential candidate Hillary Clinton is still viewed positively, according to a new NBC-WSJ poll. Clinton leads potential Republican hopefuls. (CNBC) BY THE NUMBERS As investors await Friday's release of the April employment report, there are two economic data points to consider this morning: the March trade deficit at8:30 a.m. ET and April non-manufacturing index from the Institute for Supply Management at 10 a.m. ET. In addition to Disney earnings, Pioneer Natural (PXD) is among the companies issuing quarterly results after the bell. Pioneer was one of the fracking companies slammed by investor David Einhorn in a presentation atMonday's Sohn Conference in New York. EOG Resources (EOG), another stock slammed by Einhorn in that presentation, reported adjusted quarterly profit of 3 cents per share. Analysts had expected a breakeven quarter. The oil and gas producer was helped by cost-cutting even as oil prices fell. STOCKS TO WATCH Panera Bread (PNRA) announced plans to remove at least 150 artificial sweeteners, preservatives and other products from its menu by the end of 2016. The additives include household names such as aspartame and more obscure ones, like tertiary butylhydroquinone. Facebook investor NorthStar Asset Management is backing a shareholder proposal that would eliminate so-called "supervoting" stock and diminish CEO Mark Zuckerberg's control of the social networking giant, according to the Wall Street Journal. After spending most of the last two years attacking AT&T (T), T-Mobile (TMUS) CEO John Legere is turning his attention toward Verizon (VZ), launching a new promo targeted specifically at luring its customers to his network.

Seeking Alpha

Today's Markets:
In Asia, Japan closed. Hong Kong -1.3% to 27756. China -4.1% to 4298. India -0.2% to 27440.
In Europe, at midday, London +0.4%. Paris +0.1%. Frankfurt +0.1%.
Futures at 6:20: Dow flat. S&P -0.1%. Nasdaq -0.1%. Crude +0.9% to $59.46. Gold flat at $1186.60.
Ten-year Treasury Yield +2 bps to 2.13%
Today's economic calendar:
8:30 International Trade
8:30 Gallup US ECI
8:55 Redbook Chain Store Sales
9:45 PMI Services Index
10:00 ISM Non-Manufacturing Index
Notable earnings before today's open: ABMD, ACTA, AFSI, ALLT, AMAG, ANIP, BBEP, BBW, BLMN, BPI,CIE, CLDT, CRTO, CVLT, CYNO, DIS, DISCA, DTV, EIGI, EL, EMR, ENR, EXH, EXLP, GCAP, GLDD, GLT,GTN, GVA, H, HCA, HCP, HEP, HRC, HRS, HW, ICE, ISIS, K, KEM, KLIC, KMT, LPX, MDC, MDCO, MMP,MNK, MSO, NBL, NGLS, NNN, [[NTi]], NWN, ODP, OZM, PRIM, SABR, SALE, SBH, SCOR, SGNT, SMG,SNSS, SPAR, SRE, SSE, STWD, TDG, TECH, TGH, TRW, TW, UAM, USAK, VLP, VMC, VSH, WEC, WNR,YORW, ZTS
Notable earnings after today's close: ACLS, AGU, AIZ, ALL, AMRS, AMSG, ANAD, ANDE, ARC, ATSG,AWR, AXLL, BIO, BRDR, CENT, CERS, CLUB, COUP, CRAY, CSU, CTL, CVG, CYH, DK, DKL, DLR, DTLK,DVN, EA, ENPH, EXAM, FISV, FOSL, FTR, GCA, GHDX, GMED, GNMK, GPOR, GRPN, HK, HLF, HRZN, IAG,ICUI, IGTE, IRWD, JIVE, KAR, KGC, KONA, LC, MHLD, MM, MYGN, MYL, NDLS, NFX, NVGS, NYMT, OCLR,OKE, OKS, OUT, PAA, PACB, PAGP, PBPB, PKD, PXD, PZZA, QGEN, QNST, QUAD, REGI, REXX, RLOC,RNR, RP, RUBI, SBRA, SCTY, SKUL, SLF, SM, SPA, SUPN, TEG, TMH, TNET, TRNX, TSRA, TTGT, USNA,VVUS, WAGE, WES, WGP, WR, WSR, WSTC, WTR,

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