Watchlist Update

I have a lot of assets, but most of you are interested in them. Keep in mind it took me 30 mins or so to go through all of them so some things may have changed already.

As for the market averages, there's a 1 min negative and in some 2-3 min negatives that are causing the pullback/correction I just posted a bit ago, however they still look to have gas in the tank. There's some rotation, the SPY doesn't look as strong as it did yesterday, I think Financial weakness in underlying trade has something to do with it and rotation. The IWWM looks stronger than yesterday and the Q's look the best.

In my view, all can move higher with little effort.

After that stick save in Japan last night, someone obviously wants this move to happen.

Here's a brief overview of assets on the WL:

HYG has been building 3C short term accumulation, it looks like it will move higher and support the market.

TLT I expect to accumulate in a range around $114 to $115-ish until the market move is over, then a big move up in TLT.

VXX so far is in line, I'll check again later, it is market supportive right now.

BEAV a core short position, is close to filling yesterday's gap-, it's probably in decent position here, but I might wait for the overall market unless I specifically confirm strong weakness ahead of the market.

UNG  looks like it "may" be repairing some damage, at least it did before the EIA Natural Gas report came out at 10:30 and volatility picked up. We'll wait for that to die down, but there's a chance it may start returning to a buy back.

COF is a possible short, there was a nice parabolic move this a.m. on the open, I'd like to see @ least $62.75 or > $63.50 would be even better to enter COF as a new short.

AMZN-in line so far this a.m., I think it has more upside to go, I'd like to see @ least $271.50, >$276 would be better and >$284 would be best to look at a new or add-to short position.

FDX looks like a rounding bottom, it doesn't have the best signals for a bounce. I'd like to see it in the $99->$103.25 area to consider a position there.

FAZ is building a big positive divergence that reaches out to the 60 min chart. It's not time to enter, but when it is, this is a decent proxy for a Financial short with 3x leverage.

XLF & XLK are both close to in line, slightly weaker- this may be why (XLF) the SPY doesn't look as good today, that would likely be rotation.

GS The short term charts are in line, I'd like to see >$165 for an add-to/new short position.

IBM is close to an add to, $210+ is the area, I'd like to see the market break down at the same time.

VXX is accumulating intraday, but these short term signals I believe are/were related to the market correction. VXX, where it counts, 30 min+, is exceptionally strong, I'd be looking for some basing and look to add to or start accumulating some of VXX or the 3x leveraged UVXY long, this is a play on a market break down.

COST Good thing we waited huh? I'd like to see it > $116, it has some VERY weak signals on the positive side so I might even consider adding some right here, but not a full position. COST would be near the top of my short, short list.

XOM >$93 is where I would want to see it to add.

GOOG  I suspect a bounce from the 5/23-present price formation (rounding) , I'm not interested in trying to buy the bounce, more interested in shorting it.

IOC  has seen insane bearish volatility, it may be giving us another chance to open nor add to existing shorts there- remember this is Energy so watch your correlations.

GLD  is in line so far and benefitting from a weaker $USD as is silver and oil. For now, I'll continue to hold the $133 call left over after closing the $130 yesterday

XHB-I'm looking for a bounce here, it's pretty sloppy, but I think a bounce in XHB would be worth waiting for and it would be on my radar.

USO looks to be getting ready to bounce, again the weaker $USD is helping USO, PMs and most risk assets.