- SPX futures (/ES)holds the supports near 3200 zone and is lagging a bit this morning vs (/NQ) which is NASDAQ futures. At the moment we do see some pre-market moves from TSLA and AMZN. These two companies might shake the index a bit in the pre-market. Ignoring the moves in these stocks we are looking to see if the rotation continues and some sectors continue the rise. Gold and Biotech are holding well in the pre-market.
- Europe and Asia are mixed, trying both longs and shorts in indices like FTSE, DAX, SHCOMP. Some stocks to watch for today are: $ZI, $WMG, $GILD, $FOUR, $API, $BLI – these are technical plays and not speculative news setups so try to keep them for the whole week and wait for a 30-60min trigger.
- The beginning of the week is pretty slow with less news released and more importance to the Earnings Side. More earnings coming Tuesday, Wednesday, Thursday. Consider taking a slow start today and focus on the effective execution rather than jumping in. The market is still under resistance so waiting is the best solution so far.
- Gold Futures are trying to break-off the flag. This morning the ETF market is feeling it as well, we do see GC at 1815+ this morning and lets see if we can continue in the market hours as well. If you hold gold related stocks or ETFs, hold them for longer, this is a patience game.
- Stocks according to the pre-market. But please do you own due diligence, some of them might open near 200 simple moving average, some are airlines that need more power to trigger momentum to the upside.
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