10 Minute Read

Morning Market Report for Wednesday June 20, 2018

June 20, 2018

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Calendar

 


Economic News

  • General Electric Booted From The Dow, Walgreens To Replace – GE was one of the original components of the index of 30 stocks in 1896. In the past year, its stock has been battered as the company overhauls its business. GE will be replaced on the Dow by drugstore chain Walgreens Boots Alliance prior to the start of trading on June 26.

 


Major Index Futures

  • Overall SummaryThe market sold off again today as President Trump pushes forward with tariffs and also pushed down with the continued uncertainty coming out of the Eurozone and Italy.
  • S&P 500 futures the S&P 500 lost -0.49%resistance at 2,800 and support at 2,700
  • Dow 30 futures the Dow closed down -1.15%, resistance at 25,350 and support at 23,850
  • Nasdaq Composite The Nasdaq ended down -0.28%,  pushing up against resistance at 7,750 and support at 7,250
  • SmallCap 2000 futures – ended the day up 0.6%, pushing up against resistance near 1700 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.
  • 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 down and is trying to find support near the 1260 – 1275 zone, overhead resistance is near 1300
  • Silver – sideways, silver is also falling but has been in a consistent range between 16 support and 17 resistance
  • Crude Oil an EIA inventory report that showed a greater than expected decrease in supplies are helping oil to try and hold on to support at 66.50 – 66.70 
  • Natural Gas – bullish trend – retracing after a false breakout above 3.o
  • Key Commodity Futures

 

  • Interactive Charts

 


Sectors

  • The below are snapshots of the last two months of sector performance as well as dynamic charts. 
  • Bullish  – Consumer Discretionary (XLY) and Technology (XLK) are the strongest sectors
  • Bearish -Utilities (XLU) continues to be 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 – $94.65 –  Bullish even as the US Dollar pulled back slightly off the highs it posted earlier in the week.
    • The Charts Below are 3-Month Daily

 


Cryptocurrencies

  • Overview –Cryptocurrencies were lower on Wednesday amid news of another South Korean exchange hack. The sixth largest platform in the world lost around 35 billion won ($31.5 million) of various virtual coins, including Ripple.
  • Below are charts for
    • Bitcoin 
    • Ethereum 
    • Ripple, and
    • Litecoin 

 


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 – Markets look to rise this mooring based on rising morning futures.
  • Good luck traders. The US Markets are further supported by world markets that have after loosing for five days.

 


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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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