These technical areas of resistance are turning into a real battleground and that isn't necessarily a bad thing . We need to pause and build up some energy, work off the overbought conditions and absorb the move that we had over the last few weeks.
The market was fairly choppy yesterday and that is to be expected as we struggle near theses key technical levels. February ended with a dud and March begins with the premarket flashing green arrows from around the globe while our markets appear to be poised for a gap open.
Gold continued to impress with strength as it consolidates while oil struggled a bit but continues to look like it may be stabilizing.
We had some great calls in the Traders Den yesterday with UVXY, KRO, VRX, and BABA just to name a few. If you are looking for a cool place to hang out with like minded traders join us here http://us22.chatzy.com/TradersDen.
We get a couple of economic indicators today that could be market moving events today with ISM and PMI.
In Asia, Japan +0.4% to 16086. Hong Kong +1.6% to 19407. China +1.7% to 2733. India+3.4% to 23779.
In Europe, at midday, London +0.7%. Paris +0.8%. Frankfurt +1.6%.
Futures at 6:20, Dow +0.8%. S&P +0.9%. Nasdaq +0.9%. Crude +1.4% to $34.23. Gold+0.6% to $1241.20.
Ten-year Treasury Yield flat at 1.75%
Today's Economic CalendarIn Europe, at midday, London +0.7%. Paris +0.8%. Frankfurt +1.6%.
Futures at 6:20, Dow +0.8%. S&P +0.9%. Nasdaq +0.9%. Crude +1.4% to $34.23. Gold+0.6% to $1241.20.
Ten-year Treasury Yield flat at 1.75%
Auto Sales
8:55 Redbook Chain Store Sales
9:45 PMI Manufacturing Index
10:00 ISM Manufacturing Index
10:00 Construction Spending
2:00 PM Gallup US ECI
8:55 Redbook Chain Store Sales
9:45 PMI Manufacturing Index
10:00 ISM Manufacturing Index
10:00 Construction Spending
2:00 PM Gallup US ECI
5:06:14am
USO
Crude Futures Pop to High of $34.49
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
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
AVEO potential dolla roll off pr
MRO priced its offering @ 7.65
CECO earnings low volume gapper Strictly a day trade
XON upgrade
TROV pr
VRX pr
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