We are definitely seeing some weakness heading into the open today. If we get a bad number when Jobless Claims comes out at 8:30am EST, we could see some pretty heavy selling ensue. Currently, US Futures are down 45 points on the Dow, 11 points down on the Nasdaq and 6 points on the S&P. Overnight, the Asian markets were negative, as is the European markets currently.
Along with the Jobless Claims this morning, we also have the Philadelphia Fed Survey at 10am.
Here are Today’s Trade Setups…
Bullish Candle Setups: TREX
Bearish Candle Setups: FDX, GLW, ROLL, HSP, WLL, HRB, WBD, XLV, NJR
Stocks Ready to Bounce: TRA, GIVN, PTRY
Stocks Ready to Pullback: UUP, MMM, MIL, FIX, CBT, EOC, AMCN
Breakout Stocks: ADBE, PAY, MCY, BDV
Breakdown Stocks: JGT, IRE