Morning Market Look For 9/10/13 -Go Nazzy!!!

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Futures are flying this morning as mother Russia comes to the rescue over Syria. Yippee!! The tradeoff will probably involve Putin telling Obama that he must allow Assad to stay in power. What evs.  The market is loving it. Russia is proposing that Syria hand over its chemical weapons, Putin plans on putting them next to his Super Bowl ring.

The 10 year note $TNX is trading at 2.95% ,and for now,  risk is back on. Contrary to the folks  that say you should put a gun in your mouth in September, the tape is moving up for now.

China industrial output grew to a 17 month high and retail sales rose.

Japan and the Nikkei are looking better and $DXJ, the long Nikkei/short Yen trade broke out yesterday.

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Biotech is not to be stopped as $IBB broke through lateral support yesterday and is heading to the top of the channel again. Names like $GILD, $BIIB and $CELG look phenomenal.

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$AAPL goes low cost today.

Did you know that the Nasdaq $COMPX rallied to its highest level since October 2000 yesterday?

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Keep your eye on the builders, $XHB “possible” they are reversing.

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Joe Donohue

Joe is a full time trader with 25 years experience. He is a senior contributor and investor in Stocktwits and has been seen on CNN Money and quoted in Marketwatch, Forbes, Reuters, NY Times and Wall Street Journal.