11 Minute Read

Morning Market Report for Friday June 15, 2018

June 15, 2018

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Calendar

 


Economic News

  • U.S. industrial output dips in May as manufacturing declines – May’s decline was driven by a 0.7 percent fall in manufacturing, the largest monthly decline since January 2014, with the largest drops including a 6.5 percent fall in motor vehicles and parts and 2 percent decreases in primary metals and apparel. April’s reading was upwardly revised to show a 0.6 percent gain.
    Mining production was up 1.8 percent and utilities output rose 1.1 percent. Read More… 

 


Major Index Futures

  • Overall Summary – The markets were split today as the Nasdaq recorded a new high while the Dow closed lower. Crude oil continued to rise today despite a brief yet sharp late-morning selloff. In a surprise turn of events, the US dollar broke out this morning following an ECB announcement that they will hold off from beginning to raise rate until at least mid-2019.
  • S&P 500 futures the S&P 500 gained 0.25%resistance at 2,800 and support at 2,700
  • Dow 30 futures the Dow closed 0.10%, resistance at 25,350 and support at 23,850
  • Nasdaq Composite The Nasdaq ended 0.85% higher resistance at 7,700 and support at 7,250
  • SmallCap 2000 futures – ended the day down 0.49%, resistance at 1680 and support at 1580
  • 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 gold broke support at 1300 and is falling hard this morning
  • Silver – sideways, silver tested resistance at 17 and is now selling off this morning
  • Crude Oil Crude oil selling off and is testing support at 66
  • Natural Gas – breaking out above 3.0,
  • Key Commodity Futures

 

  • Interactive Charts

 


Sectors

  • The below are snapshots of the last two months of sector performance as well as dynamic charts. 
  • Bullish  – Real Estate (XLRE), Technology (XLK), and Consumer Discretionary (XLY) are the strongest 
  • Bearish – Consumer Staples (XLP) and Utilities (XLU) are the weakest sectors

 

  • 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 – $94.75 –  Bullish The dovish announcement this morning following the hawkishness out of the Fed yesterday saw the dollar catapult past resistance of 94.5 on the Dollar Index.
    • The Charts Below are 3-Month Daily

 

 

 


Cryptocurrencies

  • Overview – Cryptocurrencies were higher this Friday, as Ethereum rose after news that U.S. regulators don’t think that Ethereum is not a security and thus not subject to regulation.
  • Bitcoin was trading at $6,525.40, rising 0.53% the Bitfinex exchange, as of 8:39 AM ET (12:39 GMT), but was still down 24% over the week. 
  • Ethereum soared after the news, rising nearly 10%. The price was lower on Friday but still up 1.44% to $491.23 on the Bitfinex exchange.
  • Ripple, the third largest virtual currency, decreased 0.83% to $0.54292 while
  • Litecoin was at $97.202, rising 0.12%.
  • Cryptocurrency 2-month Charts – 

 


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:

  • Bearish Market Bias –Markets are selling off this morning hard, please take action traders. Commodities except for Natural Gas also are falling this morning except for Natural Gas (but Gold, Silver, and Crude are all selling off), however, Cryptocurrency is rising.
  • Good luck traders.

 


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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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