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Things to consider before US market open today

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Updated: 09 July 2020
  1. The SP500 futures is feeling well this morning after a nice push at the end of the day yesterday. Currently we have to see if we can get more traction for another upside move. KWEB which is an etf for Chinese tech is gapping higher this morning so that helps a lot the US technology market as well.

SP500 Chart 09072020

  1. Europe is trading well this morning especially the DAX, FTSE -0.47%, DAX +1.52% and CAC40 +0.24%. is strong today as Shanghai Composite is driving prices higher. We are seeing KWEB another gaps up and SHCOMP +1.39%; HangSeng +0.46% and Nikkei +0.4%. This helps the markets especially the Nasdaq. We continue to focus on longs, this morning SMH – semis are interesting.
  2. Commodities: Gold is fine and we continue to hold the long positions from lower. A small consolidation on 1800 mark is needed to show more power of bulls and continue higher. No reasons you can get bearish in this sector especially with GDX and Gold Stocks flying on a daily basis. Consider Silver SLV as well.
  3. Companies to avoid trading or at least considering getting out quickly according to a well respected agency that called issues in LK and Wirecard. – https://www.muddywatersresearch.com/ – try avoiding GSX and EHTH – More info in the articles from the link
  4. The Wirecard story still remains active as some investors hold the shares even after it was hit by the trouble news. Last time we seen HODLERs was in LK which is a pink sheet now so make sure you at least adjust size.
    https://www.cnbc.com/2020/07/09/why-some-investors-are-holding-onto-wirecard-shares-even-after-insolvency.html

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