14 Minute Read

Morning Market Report for Monday April 16, 2018

April 16, 2018

By | No Comments

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

  • Bank of America Beats Estimates – the bank benefited from higher interest rates and growth in loans and deposits and reported a 34 percent rise in first-quarter profit on Monday, topping Wall Street estimates. Read More…
  • First big week of the first-quarter earnings season – results from Goldman Sachs (GS), Morgan Stanley (MS), American Express (AXP), IBM (IBM), Johnson & Johnson (JNJ), Procter & Gamble (PG) and UnitedHealth (UNH) are also on the agenda for this week.
  • U.S. retail sales rebound after three straight monthly declines – households boosted purchases of motor vehicles and other big-ticket items, suggesting consumer spending was heading into the second quarter with momentum. Read More…

Major Index Futures

  • S&P 500 futures – slipped 0.3% as U.S. stock indexes failed to overcome resistance areas Friday
  • Dow 30 futures slid 0.5% as the market ignored the big banks’ earnings beats
  • Nasdaq Composite Futures slid 0.5% as the major indexes failed to retake their 50-day moving averages.
  • SmallCap 2000 futures  slid 0.5% as all indexes had lower volume, thus avoiding another distribution day
  • Key Index Futures (Updated 6 days a week 23 hours a day) Interactive Charts
  • Futures for the Nasdaq 100 Futures differ in price but not action from the Nasdaq 5000 Index.
  • The charts below are for the futures so that you can have a head start on the market before it opens.

 


Commodities

  • Gold  – pushing up in a bullish-looking consolidation pattern, resistance at $1360
  • Silver – sideways, tight range between $16 support and $17 resistance
  • Crude Oil – bullish pattern, slight retracement but there isn’t much real resistance for a while
  • Natural Gas – 2.6 support and 2.8 resistance, sideways pattern
  • Key Commodity Futures (Updated 6 days a week 23 hours a day) Interactive Charts

 


Sectors

  • The charts below show how the sectors did yesterday and the 5-day sector performance. 
  • Bullish  – Energy (XLE) is the best performing sector at the moment by far as crude oil pushes past resistance.
  • Sideways  – Utilities (XLU) and Real Estate (XLRE)  are both just above the 50-day simple moving averages
  • Bearish – the rest of the sectors are all below the 50-day simple moving average.

 

  • The chart below shows the last 20 days of sector performance 
    • Interactive Major Sector ETF’s
  • My Current Favorite Key Industries ETF Interactive Charts – I rotate these etf’s on a regular basis so don’t skip over them too quickly

Currencies

    • USD – $89.13 – bearish trend for the dollar is still in affect
    • The Charts Below are 3-Month Daily


Cryptocurrencies

  • Cryptocurrency 1-month Charts
    • Ripple is trading at $0.65681 as a Ripple – Based Money Transfer Service called Banco Santander is launched. The service facilitates same-day currency exchange for retail customers in four countries
    • Bitcoin – flat for the month but down -4.71% in the last 24 hours as Hanoi Prohibits Use of Cryptocurrencies in E-commerce Transactions

      • Bitcoin Cash- bearish for the month, and down -4.18% in the last 24 hours

      • Ethereum – slightly bearish for the month, and down -4.55% in the last 24 hours

      • Litecoin – bearish for the month and down -4.68% in the last 24 hours.


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

  • ( 0 to +1  ) Slightly Bullish to Neutral Market Posture U.S. stock index futures point to a higher opening this morning as traders bet the weekend’s U.S.-led missile attack on Syria would not escalate into a broader conflict.

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!

 If you are not a Pro Member and following the Stock & Option Picks, then check it out! There is a Promo code for Free 15 day trial:  THETA


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.

– – – – – – —

Legal Disclaimer

Tackle Trading LLC is providing this site and any related materials (including newsletters, blog post, videos, social media and other communications) for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options or other financial instrument transactions are for illustrative purposes only and may not represent specific trades or transactions that we have conducted. In fact, we may use examples that are different or the opposite of transactions we have conducted or positions we hold. This site and any information or training therein is also not intended as a solicitation for any future relationship, business or otherwise between the members or participants and the moderators. No express or implied warranties are being made with respect to these services and products.

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.

Tags:

Finance, Stocks, Market, Stock Market, Options, Trading, Tackle Trading, Stock Market Today, Stock Market News, Market Recap, Market Review, Forex, Commodities, S&P 500, Dow Jones, DJIA, Trading Videos, Active Trading, Active Traders, Day Trading

Leave a Reply

Chart Modal

Tackle Trading