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Morning Market Report for Monday June 25, 2018

June 25, 2018

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Calendar

 


Economic News

  • President Trump plans to bar many Chinese companies from investing in U.S. tech  – and to block additional technology exports to China. Read More…

Major Index Futures

  • Overall Summary – In general last week was a bust with all indexes down (except for the Rut which was up 0.10%) over trade war concerns.
  • S&P 500 futures up 0.19% on Friday, resistance at 2,800 and support at 2,700
  • Dow 30 futures -up 0.49% on Friday, resistance at 25,350 and support at 23,850
  • Nasdaq Composite down 0.26%, resistance at 7,800 and support at about 7350
  • SmallCap 2000 futures – down 0.20%, resistance at 1710 and support at 1610
  • 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  – gold found support at 1265 and so this might be a great buying opportunity if you are bullish on gold. There does seem to be a very long-term (going back one year) trend of higher lows. Just food for thought.
  • Silver – sideways, near the bottom of its channel which has been a consistent range between 16 support and 17 resistance
  • Crude Oil held on to support at the 65 level with a double bottom and is now showing strength.
  • Natural Gas – consolidating sideways as it failed to stay above resistance at 3.00
  • 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) is 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 – $93.98 –  the dollar is forming a base within a longer-term uptrend.
    • The Charts Below are 3-Month Daily


Cryptocurrencies

  • Overview  –Cryptocurrencies overall continue their downward trend amid accusations of price manipulation, unscablity, and security concerns among exchanges.

 


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:

  • Slightly Bearish Market Bias – Markets are down this morning amid continued international tension.

 


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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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