Starting the Year with Clarity

I am opening 2015 with a clean slate, having cut my trading positions last week for either small losses, small wins, or essentially scratch. This morning, we are looking at a gap higher which is fading a bit. AAPL is a drag on the Nasdaq, while recent breakouts like LOCK are under pressure. TSLA also looks to be rolling over here, while Treasuries continue to defy gravity and push higher yet. Small caps are flattish as I write this, and the overnight move higher in the futures looks to be under some scrutiny. Scrolling through charts this morning, I am not impressed with the action. Names like WYNN, for example, still look like viable short candidates. Long ideas we have been looking at, such as BLUE IMAX, simply are not yet triggering. For now, the U.S. Dollar and Treasuries look to be the two brightest spots this morning across all markets, which typically suggests equities are not ripe to scream much higher from here.