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Good morning It is Free Friday so come join us in the live chat room here https://join.me/813-807-185 As we head into a long weekend the markets have continued to chop around in sideways action. In premarket equities were up slightly and are now down slightly, the dollar continues to show strength as gold and oil are slightly lower. Energy names could see a pullback after comments from Saudi energy minister comments on a boost in oil supply.
Read MoreGood morning I can only hope that I will not have the same issues as yesterday with my computer. China trade war concerns continue to weigh on the markets with rumors of new tariff threats from President Trump and this time its on imported cars The fed minutes were fairly dovish yesterday giving the impression that they will not be overly aggressive in raising rates even if inflation exceeds
Read MoreEquities are pulling back in pre market as we await the fed minutes later today. China trade war concerns have resurfaced and the possibility that the Summit may not happen between President Trump and N Korea. The dollar is up in premarket along with gold while oil is pulling back slightly heading into the petroleum status numbers @ 10:30 ET. Rum..
Read MoreEquities continue to trade in a very tight range and after going through my scans I have discovered a TON of great looking setups for may alert list. There are so many stocks that are consolidating with their perspective sectors and the overall equity indexes. What if the markets continue to consolidate in sideways choppy action? There are stocks out there that have trades sideways for years. Markets can do the same thing. I read a report this week where a Morgan Stanley chief strategist indicated that he thinks the market will be trading sideways with choppy action for the next three years. Now this is just one persons opinion but, if it happens, how will that impact..
Read MoreGood morning We have been chopping around all week with concerns about North Korea talks falling apart, a potential China trade war, NAFTA not meeting the Friday deadline, the rising dollar and energy prices and the Fed being overly aggressive on inflation concerns. However, even with all those concerns, the markets have held up fairly well. Neither bulls or bear are really taking the reins as we chop
Read MoreGood morning Equities are down slightly in pre market while oil is grinding towards 80 dollars a barrel, brent crude just passed 80 earlier this morning. Bond yields also continue to rise, breaking over 3.1 percent as fears of strengthening inflation indicators will lead to a more hawkish fed increasing speculation of 3 more rate hikes this year. The dollar continues to show strength while gold is down slightly in pre market. Technically we continue to consolidate and I found it interesting that Morgan Stanley's Chief equity strategist is suggesting
Read MoreGood morning There may not be an agreement on NAFTA this week, oil is holding over 70 a barrel, North Korea is threatening to cancel the upcoming summit and all of these things could impact..
Read MoreGood morning HD missed earnings but gave decent guidance however it is pulling back in pre market and it carries a heavy DOW weighting which is also down in premarket. We had a failed breakout of the IWM yesterday as it tried to clear the 160 area but could not get any follow through. Energy remains a strong sector and looks like it may continue as oil continues to grind higher. Casino strength could continue from yesterdays announcement on sports betting from SCOTUS allowing states to decide whether on not to make it legal and allow it in their state.
Read MoreGood morning Let me start out by wishing all the fantastic moms out there a wonderful mothers day. Earnings season is winding down and the economic calendar for next week is relatively light on reports or events that could impact the markets. Retail could be a sector that gets some action as we have Home Depot, Macy's, Walmart, and JC penney reporting along with the retail sales report on Tuesday. The other sector that
Read MoreGood morning Biotech and health care could be sectors to keep an eye on today as Trump is set to give a speech on drug pricing later today. We have had a nice week with equities being up over the last 6 trading days. However, there are still caution flags in some sectors and indexes. We have potential price resistance and moving averages to contend with. A pause to refresh may be in order. The strongest sectors have been energy, tech, and small caps. We are testing potential price resistance near all time highs for the IWM and we have a few short term.
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