Good morning
In yesterdays market wrap I waived a caution flag for equities in the near term as we have several sectors that are overbought and the amount of bullishness on the street is rather extreme. I am not suggesting we are going to have an immediate severe bear market but I am suggesting that often times when you have such an imbalance in sentiment the market has a tendency to give the crowd a little wake up call. There is a tremendous amount of complacency out there and there has been for quite some time. Just be aware that things can change quickly and you want to make sure you have a plan for how you will navigate through the markets if they do.
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Today's Markets
In Asia, Japan +0.9%. Hong Kong +0.3%. China +0.2%. India +0.5%.
In Europe, at midday, London +0.4%. Paris +0.8%. Frankfurt +1.1%.
Futures at 6:20, Dow +0.3%. S&P +0.3%. Nasdaq +0.4%. Crude -0.9% to $61.44. Gold -0.3% to $1317.80. Bitcoin +5.8% to $16029.
Ten-year Treasury Yield +1 bps to 2.47%
Today's Economic Calendar
8:30 Non-farm payrolls
8:30 International Trade
10:00 Factory Orders
10:00 ISM Non-Manufacturing Index
10:15 Fed's Harker: Economic Outlook
12:30 PM Fed's Mester speech
1:00 PM Baker-Hughes Rig Count
10:15 Fed's Mester Speech on Saturday
- SQNS potential day trade red to green
- DSS like the daily small float potential day trade or swing
- WSCI low float gapper potential day trade
- CFMS pr potential day trade gapper look for red to green
- WBAI gapper low float china name potential day trade scalp
- CNIT gapper low float china name potential day trade scalp
- VNET low float china name potential day trade scalp
- ACST Gapper 7 PT from Benchmark and Patent news likely need cash day trade only
- RCON potential day trade or swing play higher risl
- FENG potential day trade or swing nice daily
- CUB potential swing or long term hold consideration love the daily on this stock
- ICLK recent IPO potential day trade with volume
- STZ earnings miss pulling to potential support raised guidance could be a long term hold play on a pull to support
- IIPR MJNA TRTC on watch for potential reentry for long term hold lotto plays on pulls to potential support
