Look to Understand

Good morning folks
The markets started out heading lower with the IBB leading the way yesterday. Then we had a sharp unexpected bounce in oil and that turned everything around. What was interesting was FB, and GOOGL did not participate in yesterdays rally. It isn't that big of a surprise really since GOOGL actually ran up into its earnings report and FB was coming off 3 straight days of a gap and go run.

 I still believe that the IBB could be the key to us having any kind of sustained rally and unfortunately there hasn't been anything to provide a strong catalyst in the space.

TSLA NFLX and AMZN had some wild swings yesterday providing some trading opportunities both long and short and KLIC worked out extremely well off the open for a nice scalp opp. If you wanted to keep it simple though UVXY and XIN continued to give us some great trade setups. 

Gold took out that 108 area and broke the long term trend line with some volume conviction behind the move. GDX GDXJ JNUG and NUGT should be on your radar.

This morning we are looking at a flat open as we wait to see if oil can keep  hold of the gains from yesterday and we digest the earnings from last night and premarket. With jobless claims coming out today and the payroll report coming out tomorrow the volatility could continue. This is still a sell the rip> quick hit type of market.

I have been suggesting that jobs are the most important indicator for us to watch and the news this morning is not very encouraging.

US layoffs surge to 6-month high: Challenger https://t.co/VJG5EzX3nw

08:30:45am	+ USA Nonfarm Productivity (QoQ) for Q4 -3.00% vs -1.80% Est; Prior 2.20%
08:30:45am	+ USA Nonfarm Productivity (QoQ) for Q4 -3.00% vs -1.80% Est; Prior 2.20%
08:30:45am	+ USA Initial Jobless Claims for Jan 29 285.0K vs 280.0K Est; Prior 278.0K
08:30:46am	+ USA Initial Jobless Claims for Jan 29 285.0K vs 280.0K Est; Prior 278.0K

My focus ETF & ETN List

Volatility                            Oil                                             Biotech
UVXY XIV TVIX     UWTI DWTI GUSH DRIP                     IBB LABU LABD       
 Gold                                                                     Dollar 
GLD NUGT JNUG DUST JDST  GDX GDXJ              UUP 

A few Stocks on the Radar premarket 
VHC potential follow through off the news a few names that could move in sympathy ACTG, MARA, FNJN, VRNG day trade 
SIEN potential follow through today 
WFT reported earnings that weren't as bad as anticipated