11 Minute Read

Morning Market Report for Tuesday June 26, 2018

June 26, 2018

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Calendar

 


Economic News

  • U.S. June auto sales up 2.5 percent – U.S. auto sales in June likely rose 2.5 percent from the same month in 2017 as consumers continued to prefer expensive pickup trucks, SUVs and crossovers over passenger cars although discounts on new vehicles remain high, industry consultants J.D. Power and LMC Automotive said on Tuesday. Read More…

Major Index Futures

  • Overall Summary – The market sold off yesterday over news that Treasury Department was preparing to issue new regulations that would block any company with at least 25% ownership by Chinese entities from acquiring any U.S. firm with “industrially significant technology.”
  • S&P 500 futures fell nearly 1.4% on Monday, resistance at 2,800 and support at 2,700
  • Dow 30 futures resistance at 25,350 and support at 23,850
  • Nasdaq Composite down 2.1%, resistance at 7,800 and support at about 7350
  • SmallCap 2000 futures – 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  – bearish – trying to find support at 1260, resistance at 1300
  • Silver – sideways, near the bottom of its channel which has been a consistent range between 16 support and 17 resistance
  • Crude Oil after a double bottom and is now showing strength at the 68 – 69 level
  • 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 – $94.23 –  the dollar is forming a base within a longer-term uptrend.
    • The Charts Below are 3-Month Daily

 

 

 


Cryptocurrencies

  • Overview  – Cryptocurrencies overall were slightly higher, with the coin market cap of total market capitalization rising to $253 billion at the time of writing compared to $235 billion on Sunday.
  • Cryptocurrencies struggled to gain ground after news on Monday that Japan’s Financial Services Agency (FSA) told six local crypto exchanges to improve their business, specifically with money laundering measures and risk management.
    Digital coins were also held back by reports that South Korea-based crypto exchange Bithumb was hacked last week and 35 billion won (US$31.5 million) worth of virtual coins stolen.
  • Cryptocurrencies struggled to gain ground after news on Monday that Japan’s Financial Services Agency (FSA) told six local crypto exchanges to improve their business, specifically with money laundering measures and risk management.
    Digital coins were also held back by reports that South Korea-based crypto exchange Bithumb was hacked last week and 35 billion won (US$31.5 million) worth of virtual coins stolen.
  • Bitcoin – was trading at $6,221,10 increasing 1.61% the Bitfinex exchange, as of 8:56 AM ET (12:56 GMT), but still remained at a four-and-a-half-month low.
  • Ethereum – fell 1.45% to $449.77 on the Bitfinex exchange.
  • Ripple – the third largest virtual currency, increased 0.51% to $0.47759 
  • Litecoin – was at $81.02, up 0.50%.

 


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 Bullish Market Bias – Markets open slightly higher this morning after Monday being one of the worst days since February.

 


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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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