We closed out May with a less than impressive move for most of the indexes. The IBB was the real standout for the day as it continued to show impressive strength. The SMH and the Nasdaq manged to close in the green but they appear to be getting tired. The Dolla strength continued while oil pulled back and the energy names seem to be struggling. Gold and miners bucked the dollar strength and moved higher on the day. The IWM closed above 115 which was something I was hoping to see this week. It would be very bullish if we managed to close above that level for the remainder of the week.
This morning the markets are flashing red in premarket which isn't a huge shock after the run we have had. We talked about the areas of potential resistance in this weeks videos and it appears as though that resistance is working. Now the question becomes will we just build up some energy through time and chop around a bit before we take out that resistance or will the markets break down with another failed attempt to take out all time highs. There is a lot of economic data and an OPEC meeting tomorrow that will help the markets decide which way we are headed.
Today's Markets
In Asia, Japan -1.6% to 16956. Hong Kong -0.3% to 20761. China -0.1% to 2914. India+0.2% to 26714.
In Europe, at midday, London -0.7%. Paris -0.7%. Frankfurt -0.6%.
Futures at 6:20, Dow -0.3%. S&P -0.3%. Nasdaq -0.3%. Crude -1.6% to $48.32. Gold+0.1% to $1218.60.
Ten-year Treasury Yield flat at 1.83%
Today's Economic CalendarIn Europe, at midday, London -0.7%. Paris -0.7%. Frankfurt -0.6%.
Futures at 6:20, Dow -0.3%. S&P -0.3%. Nasdaq -0.3%. Crude -1.6% to $48.32. Gold+0.1% to $1218.60.
Ten-year Treasury Yield flat at 1.83%
Auto Sales
7:00 MBA Mortgage Applications
8:15 ADP Jobs Report
8:30 Gallup U.S. Job Creation Index
8:55 Redbook Chain Store Sales
9:45 PMI Manufacturing Index
10:00 ISM Manufacturing Index
10:00 Construction Spending
2:00 PM Fed's Beige Book
7:00 MBA Mortgage Applications
8:15 ADP Jobs Report
8:30 Gallup U.S. Job Creation Index
8:55 Redbook Chain Store Sales
9:45 PMI Manufacturing Index
10:00 ISM Manufacturing Index
10:00 Construction Spending
2:00 PM Fed's Beige Book
ETF's on my Radar
Volatility OIL Biotech
UVXY XIV VXX TVIX VMIX VMAX UWTI DWTI GUSH DRIP LABD IBB LABU
UVXY XIV VXX TVIX VMIX VMAX UWTI DWTI GUSH DRIP LABD IBB LABU
Gold SILVER Dollar Financials
GLD NUGT JNUG USLV UUP FAS XLF FAZ
Minerals and Miners Utilities RETAIL Transportation
XME GDX GDXJ XLU XRT IYT XTN
DUST JDST
Agriculture SPY
DBA, DAG SPXS SPXL
STOCKS ON MY RADAR PREMARKET
ASPN new contract could get a bounce tiny floaterSQBG insider buy 20 7.78 potential for an 8 test and roll small float
TTNP Insider buy 20k @ 7.03 after FDA approval
SCWX Earnings potential 14 roll
CLF potential continuation move
ATNM Phase 1 positive Data flirting with a 2 roll premarket Will likely need to raise cash soon could set up intraday for a nice scalp
KORS gapping off earnings
CCXI pr flirting with a 6 roll
RIBT super Tiny Floater PR recent insider buy could be worth watching
This weeks Ticker Tv Stocks to watch and their performance below
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