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Things to Consider Before US Market Open Today

Yurii Kitikari
Yurii Kitikari trader
Updated 27 Jul 2021

The importance of keeping a forex trading journal
  1. 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.
    SP500 Futures Chart July 2020
  2. 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.
  1. 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.
  1. 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.
    Gold Futures Chart July 2020
  2. 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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Yurii Kitikari
Yurii is an Ex-Prop Trader & Fund Manager for UK & Swiss Institutions who specialises in trading US equities