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Good morning The markets are flashing red in premarket after it has been revealed that President Trump is now being formerly investigated for obstruction of justice. We just had a barrage of economic data hit and the markets are actually bouncing just a tad.
Read MoreGood morning There is a lot happening today. We have the Fed decision on rates and the meeting with Janet Yellen. We have the oil inventory status report along with CPI, retail sales, mortgage application, and business inventories. Days like today can be tricky. Financial,oil, gold, housing, consumer discretionary and retail sectors can all be impacted off of the news today. Often times we get a knee jerk reaction that is a head fake. Some traders choose to sit on the sidelines on days like today to see how things shake out.
Read MoreGood morning It looks like we are getting a little bit of a bounce in premarket as the Fed meeting kicks off today heading into tomorrows announcement. Premarket is extremely dull this morning I had a very difficult time finding anything of interest. Semi's are getting a little premarket action and there could be some scalp opportunities there. Do not feel compelled
Read MoreGood morning It will likely be an interesting day with the ECB rates meeting, UK election and Comey testimony. I am anticipating some choppy whipsaw action and so are many others. With that being said, it could actually result in a uneventful flat day since the market has a tendency to do the opposite of what the masses expect.
Read MoreGood morning The next 48 hours could be very interesting for the markets. We have the Comey testimony tomorrow and the vote in the UK in the next 24 hours. President Trump will be talking about his administrations infrastructure plans in Cincinnati and we also get petroleum status numbers today.
Read MoreGood morning, We are looking at another day of equities flashing red in premarket. Gold is gapping and will be taking out that trendline resistance overhead. Keep an eye on it to see if it can hold above resistance. If we get some follow through in GLD we could see follow through in JNUG NUGT USLV as well as some individual miner names. EXK PAAS SBGL ABX NGD GORO IAG are a few that come to mind. Do not...
Read MoreGood morning We are seeing some weakness in equities globally after the event that occurred in the UK over the weekend. Gold is gapping a tad in premarket but I would be cautious of chasing any gap in gold. The market has been very resilient with these types of events in the past.
Read MoreGood morning A new month begins and June is typically one of the weaker months of the year historically but that doesn't mean there will not be plenty of opportunity. The market has been in consolidation mode with some sectors like Tech and semiconductors continuing to show incredible strength. The biotech sector is struggling but that could change this weekend with ASCO taking place and could provide the catalyst to take the IBB over that 300 level of resistance. PANW had nice earnings and guidance which could put..
Read MoreGood morning We have a lot of economic data today along with the beige book report from the FOMC. We are getting a little bounce from the NASDAQ and the S&P in premarket along with gold as the dollar and oil are flashing red. The IBB is sitting right on top of the 200 day and if we break below it with conviction we could have a nice day trade opportunity with LABD but do not chase it.
Read MoreGood morning Equity markets are flashing red premarket while the dollar is showing a bit of strength. Oil and gold are pulling back off the dollar strength. It shouldn't come as a surprise that we are seeing some weakness after a 6 day run. Let see if the weakness continues or we get some type of red to green bounce.
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