Oil Breakdown Seems Inevitable

$IBB gets the relief bounce this morning as dip buyer took advantage of the 50 day moving average. Utilities are right behind, which can be interpreted as a defensive (cautious on the market) type of play. Oil is down near 3%, and it seem inevitable that we get the bear flag breakdown, I would stay clear of oil related names for now.

Here’s a look at the commodity via USO:

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From the runner screen this morning, I like: GPRO, DGLY, IDRA, BLUE, YY, TGTX, XLRN. CLICK HERE FOR SCREEN RESULTS.

Good luck today traders.