Things to consider before US market open today

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Updated: 31 July 2020
  1. SPX futures (/ES)tested some levels yesterday but held. Facebook, Google, Apple and Amazon reported after the close and did incredibly well. The good earnings in these stocks sent the Tech sector QQQ into space but still we are not far from all time highs. Watching the open today into resistance. We are closing the month and its Friday; some volatility may pick up.

spx chart 31072020

  1. Gold futures – GC1! Going higher this morning. The Bonds are gapping the resistance, if we continue moving higher in GLD and TLT that will pressure even more the inflation fears and the USD vs other currencies will eventually devaluate. We already saw a momentum move in the EUR/USD.eurusd chart 31072020
  2. Some of the stocks making great moves today $GOOGL $FB $AAPL $PINS $AMZN and others. A lot of moves as reports kicked in. This morning over 150 stocks gapping higher and the whole market looks incredibly strong but we might see some profit taking on the open as well, be prepared. https://www.cnbc.com/2020/07/31/stocks-making-the-biggest-moves-in-the-premarket-caterpillar-merck-chevron-under-armour-more.html
  3. $AAPL is ready to split its stock of 4:1. The trading of the split-adjusted basis will begin in August 31-2020. https://www.ccn.com/3-reasons-apple-headed-for-another-stock-split/
  4. Europe and Asia remain mixed. This is Friday and a LOT of traders and investors are planning their vacation season. We are coming into the last day of July and August to mid-end of September will be even slower. Prepare your portfolios and make sure you adjust your positions. No important news today, enjoy the summer end and a great weekend.
    https://money.cnn.com/data/world_markets/europe/

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