Hey Traders,

 

It’s been a pretty interesting ride the last 24 hours. Last night it looked like the markets where getting hid hard on the Iran news. I woke up with the futures pointing up on news the damage was minimal. It’s a pretty strong market to shrug off that kind of news and I discuss that in today’s webinar.

 

Oil was up 4% last night and completely reversed today. Oil DID break out of a down trend a couple months ago around $57.50. However, I would be cautious before getting sucked in. Energy stocks (XLE) are still under performing the over all market. Why own a sector that still can’t outperform the index? Plus XLE is under performing the oil commodity that they track. It’s hard to make money when the stocks lag. Too much evidence against energy stocks at the moment. It could change but in my opinion energy stocks need to show leadership and they are still lagging

In this week’s Webinar I discuss…….

 

-Long Term Picture of Market and potential targets

-Market Breadth (where the money is flowing)

-Gold, Oil and Bond Charts

-Emerging Markets vs S&P 500

-5 IPOs that are looking poised to pop