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Morning Market Report for Monday June 4, 2018

June 4, 2018

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Economic News

  • Facebook protests NYT’s privacy breach claim – Facebook has rejected claims by the New York Times that it is sharing personal data with smartphone firms represented a breach of privacy pledges that it had made to its members and a US regulator. Read More…

Major Index Futures

  • Overall SummaryThe stock market that it no longer cares about the trade war as in trading on Friday morning it dashed ahead at the open and never looked back.
  • S&P 500 futures up 1.08% Friday, the broad large-cap index has support at 2650 and resistance at 2750. 
  • Dow 30 futures up 0.90% Friday,the blue-chip index has support at 23,500 and resistance at 25,000. 
  • Nasdaq Composite – up 1.51%, the composite’s support level is at 7,000 and resistance at 7,500. technology is very strong
  • SmallCap 2000 futures up 0.88%, small caps continue to rally
  • 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.

 

  • Interactive Charts – 
  • The charts below are for the futures so that you can have a head start on the market before it opens.

 


Commodities

  • Gold  – bearish trend – gold is dancing near the 1300 level with is a significant resistance and support level.
  • Silver – sideways – Support at 16 and resistance at 17.
  • Crude Oil – bearish – crude is breading support at 66.50 and may have peaked.
  • Natural Gas – bullish trend pushing up against resistance at the 3 level
  • Key Commodity Futures

 

  • Interactive Charts

 


Sectors

  • The below are snapshots of the last two months of sector performance as well as dynamic charts. 
  • Bullish  – Most other sectors are positive, with XLE Energy and Technology XLK as leaders.
  • Bearish – XLP Consumer Staples is the weakest sector

 

 

  • The chart below compares the last 20 days of sector performance in an easy to see chart. 
    • Interactive Major Sector ETF’s
  • My Current Favorite Key Industries ETF Charts 

 


Currencies

    • USD – $93.79 – retracing after facing resistance at 95, could find support at 93 but most likely 92 is a stronger support level
    • The Charts Below are 3-Month Daily

 

 


Cryptocurrencies

  • Cryptocurrency 2-month Charts
  • Bitcoin – bearish
  • Litecoin – bearish
  • Ethereum – bearish
  • Ripple – bearish
  • Bitcoin Cash- bearish

 


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)

 

 


Final Trading Thoughts:

  • Bullish Market Bias –the market looks to start strong this morning still carried by the strong job report last week.

 


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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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