Tuesday, March 1, 2016

You Have The Ability

Good morning folks
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 Calendar
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

Stocks on my radar premarket 
EXEL pr earnings lil gap 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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