With yearend closing price of $27.67 (remember, these charts are self updating) this is set up as an inverse head-and-shoulder pattern and clearly looking for a breakout to the upside, will be interesting to watch.

One of the Federal Reserve's hawkish officials said on Sunday that while she prefers a slightly more aggressive approach, she is not opposed to her colleagues' view that the U.S. central bank needs to raise interest rates only four times this year.

Fed's Mester prefers a bit quicker U.S. rate-hike pace - Yahoo Finance

Where do they find these people?? As if the dollar isn't strong enough already, oil still too high, emerging markets currencies not tumbling fast enough, industrial economies not struggling hard enough, the risk of a Chinese devaluation not big enough, inflation and wages are about to shoot higher, etc. etc.

Chinese markets down almost 7%, well we did say China would pose the biggest risk to markets (here) and we explained these risks earlier in considerable detail (here)

From Zacks:

-6.2% for mid-caps 

-7.7% for small-caps 

-11.3% for micro caps

Market is very short on breadth, held up by the likes of Amazon, Google, Microsoft, Facebook en Netflix.

Our only purchase so far for 2016 (on 12/21 last year), Ellie Mae (ELLI) is holding up pretty well, at least for now on the support. At the moment it's even up a bit for the day at $60.30 while the markets are selling off 2%+

While there is still two hours to go, the reversal in JKS is rather stunning. Opening at -10%, now just at -2%. Still, with Chinese markets down 7% and actually halted, I think we can't be blamed for not pulling the trigger here..

This isn't going to yield instant results, but it's interesting nevertheless:

U.S. Food and Drug Administration (FDA) seeking a reduced exposure order so that 22nd Centurys BRAND A Very Low Nicotine (VLN) cigarettes may be introduced into commerce in the United States. The application to the FDA requests that BRAND A packaging and marketing be allowed to disclose to consumers that the Companys proprietary Very Low Nicotine cigarettes reduce smokers exposure to nicotine.

22nd Century Files Modified Risk Tobacco Product Application with the FDA for World’s Lowest Nicotine Tobacco Cigarettes | Seeking Alpha

If successful, it will give these cigs a rather important marketing advantage in the US, where one isn't allowed to market with stuff like "light" or "low nicotine"..

Interesting perspective from Zacks on the Chinese selloff:

We are told that Chinese manufacturing data ruined the first trading day of the New Year. That is patently false. Their numbers were in the same ballpark that they have been for several months. 

So what caused their 7% stock decline? 

As it turns out, this is just chickens coming home to roost on another gross manipulation of markets by the Chinese government. I am referring to the policies they put in place six months ago during the previous market collapse. One such ruling stopped large shareholders (5% ownership or more) from selling their positions in listed companies. That party ends this Friday and thus some Chinese investors are trying to get out ahead of the potential stampede. 

History shows us that the Chinese stock market is pretty disconnected from the actual economy. So this is another "Boy Who Cried Wolf" event like we've had many times over the last several years. Meaning it is a temporary dip caused by unnecessary fear that is followed by a bounce in the market. That is likely why traders rushed in at the end of the US session to bid up stocks 1% into the close.

We have a new article out:

• While the recovery created a lot of private sector jobs and there was a fair amount of deleveraging, growth is hardly exuberant, we look at the reasons why.
• Other good news is that the world's saving glut is topping out, as this is a main factor behind disappointing growth (or secular stagnation).
• However, much depends on China, which we see as the biggest risk in 2016.

Why All The Gloom And Doom? - Part II | Seeking Alpha