The Morning Market Report is a daily report delivered to Tackle Trading members. In this report, you’ll receive a summary of major market news, the list of that day’s economic calendar, information regarding th major markets indexes, industry sector performance, comodities, currencies. and links to usefull sites and/or stories.
The Morning Market Report is designed to compliment the Scouting Reports (available to Pro Members) on Mondays and the Market Recap during the rest of the week so make sure to refer to those reports first. To read yesterday’s Market Recap by Solon click here https://tackletrading.com/market-recap-may-24-2017/
This report can be part of your 7 Step Process to Successful Trading. By helping you start at the top of the markets, choosing a trading strategy, and finding and analyzing potential trades. So don’t start trading uninformed; add the Morning Market Report to your daily routine.
Todays Economic Calendar (Eastern Time Zone):
8:30 AM – International Trade in Goods & Jobless Claims (see below)
10:00 AM – Lael Brainard Speaks
10:30 – EIA Natural Gas Report
11:00 – Kansas City Fed Manufacturing Index
ALL DAY – OPEC Meetings
Economic News Highlights:
- Jobless claims rise slightly – Read More…
- Global and US Stocks all rise overnight – after digesting the Fed minutes investors worldwide became extra bullish.
- The S&P, DJIA, and NASDAQ could all open to new record highs this morning.
- Bitcoin exceeds $2,700 -increasing 40% this week and 468% in the last year. Bitcoin market cap is now $41Billion. Read More…
- Oil falls 2% overnight – as OPEC agreed to extend reductions until March of next year investors took their profits early. Read More…
- Williams Sonoma (WSM) jumps 10% – after beating expectations on earnings.
- HP had a 4% overnight gain – HPQ beat revenue expectations with a 12% increase in laptop sales.
- JP Morgan climbs 6%– PVH afer stronger than expeceted earnings.
- Guess (GES) soars 15% overnight – after a 3rd straight revenue gain (up 2%) and a narrower-than-anticipated earnings decline after Wednesday’s close.
- Abercrombie & Fitch misses earning expectations – ANF had net losses that exceeded those by analysts. Read More…
- Sears has first quarterly profit in 2 years – SHLD shares of the largest retailer rose 7% in premarket trading. Read More…
- Best Buy exceeds earning expectations – bucking the retail trend, BBY increases sales in stores, and shares jumped 11.3% overnight. Read More…
Major Index Charts and Observations:
The NASDAQ set a new high yesterday and the S&P and the DJIA are set to open to new highs this morning but be careful the market has shown its hand twice this year and is easily spooked by news events.
- S&P 500 – Currently at 2,408
- Dow 30 – Currently at 21,012
- Nasdaq – Currently at 5,754
- S&P VIX – Curently 11.93
- Russel 2000 – Currently at 1385 (make sure to watch your Iron Condors and set your alerts if the RUT climbs today)
Commodities:
- Silver – 17.215 – currently neutral, might be a good long-term investment if you are wllling to wait.
- Gold – 1255 – still hittings its head against resistance at $1,265, like silver if you can be patient it should pay off in the long-term.
- Natural Gas – 3.344 – hitting its head on $3.335 resistance again with a nice rise this morning.
- Crude Oil currently $50.66– rose to above $52 and then when the good news at OPEC came out investors took their profits and ran!
Market Sectors:
When looking for bullish stocks look within a bullish sector, and for bearish trades look within a bearish sector.
Yesterday Energy and Financials were he weakest sectors, and Technology continues to be the strongest.
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Currencies:
- USD currently $97.11 – recovered some ground, back above $97 but still bearish.
- Bitcoin currenty $2785 – up nearly $1,000 in the last week alone!
- Ethereum – currently at $212.79 – this crypto-currency has quadrupled in the last month!
Tackle 25
Most traders look for trade setups using the same stocks over and over. The list below has been screened for cash-flow optimization across a broad collection of sectors. Below is how they performed yesterday.
Dynamic Yield Curve
The dynamic yield curve chart shows the relationship between interest rates and stocks over time. When I see the market hit new highs I make it a point to check the relationship 0f short term interest rates to long term interest rates. It is currently normal (see below) however, if the yield curve is inverted it could be a sign that in the near future stocks are due for a correction (we have been in a bull market since 2009, and we are historically overdue for a correction).
Trading Thoughts
Bitcoin is too hot to touch at the moment, wait for a dip, comodities are out of favor right now but make good long-term investments. Stocks are set to open to record highs this morning.
Market Bias – I am feeling bullish +1 to +2 this morning. The NASDAQ set a new high yesterday and the S&P and the DJIA are set to open to new highs this morning but be careful the market has shown its hand twice this year and is easily spooked by news events.
More Bearish Neutral More Bullish
-3 -2 -1 0 +1 +2 +3
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Hector Duenas Jr. started his trading journey during the height of the tech bubble in 2001 as part of the 90% that looses money in the stock market.
A Rich Dad conference in 2016 changed his life and now he writes the Morning Market Reports for Tackle Trading.
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2 Replies to “Morning Market Report Thursday May 25th”
Thanks for mentioning the Dynamic Yield Curve. I like to check that periodically as well.
I’m going to plan on putting that on the morning market report once a week especially as since this bull market continues to go into overtime
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