The Three E's!

Good morning folks, 

It was a fantastic day yesterday for short term scalp trades. There was something to be had for both longs and shorts as the markets whipped around struggling to find its direction creating some volatility along the way. 

Oil and the markets are still aligned. For a short time it looked as though that relationship was decoupling but it appears to be back in play. Inventory numbers were not as bad as anticipated and we saw an immediate bounce in oil which helped reverse the selloff we were seeing in the indexes. 

Gold took a pause yesterday which was not a big surprise after the recent run it has had. We could see more consolidating action in the precious metal and related miners. If the markets are able to take out some key levels and continue to rally we will likely see more weakness in the sector but I don't think we have seen the end of this run. 

We have some members of the Fed speaking today. Hopefully, they will continue to dial back the rhetoric on raising the rate four times this year. 

Congrats to all the POWR holders what a great way to start your day!! 

Today's Markets  In Asia, Japan +1.4% to 16140. Hong Kong -1.6% to 18889. China -6.4% to 2741. India-0.5% to 22976. In Europe, at midday, London +2.2%. Paris +2%. Frankfurt +1.1%. Futures at 6:20, Dow -0.1%. S&P -0.1%. Nasdaq -0.1%. Crude -0.5% to $31.99. Gold-0.3% to $1235.40. Ten-year Treasury Yield -2 bps to 1.72% Today's Economic Calendar 8:30 Durable Goods 8:30 Initial Jobless Claims 9:00 FHFA House Price Index 9:45 Bloomberg Consumer Comfort Index 10:30 EIA Natural Gas Inventory 11:00 Kansas City Fed Mfg Survey 1:00 PM Results of $28B, 7-Year Note Auction 4:30 PM Money Supply 4:30 PM Fed Balance Sheet

ETF & ETN watchlist

Volatility                           Oil                                                      Biotech
UVXY XIV VXX TVIX     UWTI DWTI GUSH DRIP                     IBB LABU LABD       
 Gold                                                                  SILVER             Dollar      Financials
GLD NUGT JNUG DUST JDST  GDX GDXJ         USLV          UUP      FAS XLF FAZ

Stocks on my radar premarket 

ERII Hot daily reports next week potential pre earnings run

AMRN earnings 

ACRX pr 4 roll gapper 

CLDX earnings gapper 

RLYP potential snap back