Morning Market Thoughts
Some things to read this Morning:
Mohamed El-Erian’s expectations for the Fed Minutes (Bloomberg)
Here is a cool Chart from BAML:
Market Thoughts:
Lately I have a lot of people ask me what equity plays I like in the market. I keep coming back to one play and that is the Russell 2000 ETF the IWM. The IWM is one of the few major indexes that hasn’t hit its All Time High from last June. I like the IWM here has 1-3 month play. Using $122 as a stop and targeting a break out over $13 and then to the all time highs seen last June. 
Here we have a chart of the IWM with the yellow line being $123. This level seems pretty key as it has been a level of buying back ion both March 2015 and July 2015. If you remain hesitate of this trade then wait for IWM to close above $123 for a couple days to confirm that the break out is for real.
WillHassellws 