May 2, 2011 (Chinavestor) There was no trading on Chinese stock exchanges on Monday, May 2nd due to a public holiday in China. This suggests there is not much trading intelligence to gain from Asia for the day, except a huge catalyst for U.S. index futures: the death of Osama Bin Laden. News that Al-Qaida's number one is killed sent index futures soaring before the opening bell.
This bodes well for Chinese ADRs before the opening bell on Monday. Stocks with momentum are expected to do well - for a technical rwading of Chinese stocks visit today's overbought/oversold indicator.