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Morning Market Report for Tuesday February 13th, 2018

February 13, 2018

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The Morning Market Report is 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.

This report focuses on short-term swings in the market (especially overnight futures movements) that can help you best begin you trading morning. In this daily report, you’ll receive:

  • a summary of major market news,
  • the list of that day’s economic calendar,
  • information regarding the major markets indexes,
  • industry sector performance,
  • major commodities,
  • world currencies. and
  • links to useful sites and/or stories.

So don’t start trading uninformed; add the Morning Market Report to your daily routine.


Calendar

 


Economic News

  • YEN hits five-year high – The yen, which enjoyed a bounce against the dollar last week thanks to its reputation as a relative safe haven, hit a five-month high. Consider the FXY ETF that tracks the Japanese Yen as an investment mechanism if you are not directly investing through Forex with the USD/JPY currency pair.
  • Under Armour revenue beats estimates – The Baltimore-based company’s Class C shares were trading nearly 11 percent higher in premarket trading. Read more…
  • Blue Apron posts narrower loss than expected – The meal-kit subscription service had 746,000 customers in the fourth quarter, compared to 856,000 in the prior quarter and 879,000 a year earlier. The marketing pullback came despite mounting competition for customers from meal-kit rivals and Amazon. Read More…
  • Cryptocurrencies Undergo Profit-Taking After Strong Rebound – All cryptos were trading lower across the board this morning as traders took profit after the recent rebound in the last week. Read More…

Major Index Futures

  • Market Overview – Monday the the Dow Jones industrial average lead the way, rising 1.7%, Nasdaq composite added 1.6%, the S&P 500 picked up 1.4%, while the Small caps RUT rose only 0.9%. Nasdaq and NYSE volume fell from Friday’s above-average levels.
  • S&P 500 futures-  2,640 – slightly bearish and volatile, markets are under the 50-MA and bouncing off their respective 200-MA, expect wild swings as the market decides on a direction.
  • Dow 30 futures 24,424 –– slightly bearish and volatile, markets are under the 50-MA and bouncing off their respective 200-MA, expect wild swings as the market decides on a direction.
  • Nasdaq 100 Futures6,487— slightly bearish and volatile, markets are under the 50-MA and bouncing off their respective 200-MA, expect wild swings as the market decides on a direction.
  • SmallCap 2000 futures 1482 – slightly bearish and volatile, 
  • Charts Below are 2-Month Daily 


Commodities

  • Gold – $1331 – sideways, resistance above 1370, support at 1300,
  • Silver -16.490 -sideways, near 17, silver is going sideways
  • Crude Oil – $58.73 – slightly bearish, oil fell hard again and is below the 50-MA
  • Natural Gas – $2.619 – slightly bearish, selling off, support at 2.5, resistance at 3, and then at 3.4
  • Charts Below are 2-Month Daily


Sectors

  • Bearish Sectors – During this correction in the market everything is bearish.
  • The charts below show how the sectors did yesterday and the 5-day sector performance. 

  • The chart below shows the last 20 days of sector performance 
  • 2-month charts of key sector ETF’s

  • Key Industries ETF 2-month charts


Currencies

  • USD – $90.27 – slightly bearish  The US dollar surged early just prior the US bank open, but hit resistance at just below 90 on the dollar index before giving up most of its gains.
  • The Charts Below are 3-Month Daily


  • Cryptocurrency 1-month Charts
  • Ripple slumped 8.2% to $0.98078
  • Crypto’s explained in 4 minutes Click Here…
  • Bitcoin – bearish – the largest cryptocurrency by market cap, was off 2.3% Tuesday on the Bitifinex exchange, paring its gains in the last 7 days to roughly 29%.

  • Bitcoin Cash- slightly bearish -fell 5.2%, diminishing its weekly gain to a still solid 45%. Bitcoin cash is an offshoot of Bitcoin.

  • Ethereum – slightly bearish – Ethereum, the world’s second largest cryptocurrency by market cap, lost 3.5%, but held onto gains of about 30% since a week ago

  • Litecoin – slightly bearish – recovering in the last week nicely


Tackle Trading 25

  • Welcome to the new Tackle Trading Covered Call List for 2018
    • For Slightly Bullish Trends
      Naked Puts, Covered Calls, and for stocks over $100 Bull Put Spreads
    • For Neutral Trends
      – Iron Condors are great for stagnant stocks
    • For Slightly Bearish to Trends 
      – deep-in-the-money covered calls or Bear Call Spreads for stocks over $100
    • (be careful with overly aggressive directional trades like Shorting or buying Puts)


Trading Thoughts

  • Slightly Bearish to Neutral Market Posture – U.S. stock futures point to a dip at the open for the market this morning, ending two days of gains that had somewhat cooled investor fears over larger market correction.

Bearish                                                      Neutral                                                       Bullish

-3                         -2              -1                   0                   +1                    +2                    +3

 


You can follow daily trade adjustments and updates on Twitter, Facebook, or text “follow @tackletrading” to 40404 to get text alerts!

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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 loses money in the stock market.

A Rich Dad conference in 2016 changed his life and now he writes the Morning Market Reports, the Market Scoreboard, blogs, and appearances on the Coaches Show and the Cashflow Club for Tackle Trading. Hector specializes in cash-flow strategies such as Covered Calls on the Tackle 25 Watchlist, the Personal Gold System, Cashflow Condors, and speculating on Futures.

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All investing and trading in the securities market involves risk. Any decisions to place trades in the financial markets, including trading in stock or options or other financial instruments, is a personal decision that should only be made after thorough research, including a personal risk and financial assessment, and the engagement of professional assistance to the extend you believe necessary.

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