Oil is struggling premarket which could put a dampener on the markets. I think we can safely assume that with all the grounded flights over the weekend our over supply issues aren't going to be getting better in the near future.
It should not come as a big surprise that we are seeing some profit taking after the move last week. We may have to wait until we get some high profile earnings to get a better feel for what direction we are headed this week.
We have a high profile merger between JCI and TYC being announced this morning and while that is a great thing for Tyco shareholders that will likely mean job cuts in the near future from the combined companies. TWTR announced the departure of several top executives and the stock is reacting accordingly. MCD has posted strong earnings and currently gapping premarket.
My focus this morning will be on UVXY XIV UWTI DWTI and the list below
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