- SPX futures (/ES)are lower this morning but rebounding after testing the Wednesday low at 2908. The overnight trading had a lot of pressure and yesterday closed in red but nothing substantial. The week is still positive and we are looking into the today close as this matters a lot for this period.
- Europe definitely feels the pressure of the Asian session with FTSE -1.07%; DAX -0.43%; CAC40 -0.36%. Asia is the main pressure component with Hang Seng down -5.57% and Shanghai Composite is lower at -1.89%
- Crude Oil (/CL) is down as well today -5%+. Will watch is we get a continuation to the downside or we get another push higher. Considering its Friday, the end of May we may have a sloppy action for this session. Avoid oil stocks for now.
- Gold is rebounding slightly this morning. Nothing major, just a tiny rise of 0.85%. PAAS good if you reduced. GLD, GDXJ, GDX are not the play for momentum rather for a 1-2-year hold vs inflation. Consider owning some for your portfolio 20-30%.
- Greatest news for today is that on Monday, the 25th of May 2020 the US markets are Closed due to the Memorial Day.
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