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Morning Market Report for Friday June 8, 2018

June 8, 2018

By | 1 Comment

Calendar


Economic News

  • Nikkei reports that Apple plans to make 20 percent fewer new model iPhones this year – The California-based firm has asked its parts suppliers to make about 20 percent fewer components for the three new iPhones it plans to launch in the second half of 2018, compared to last year’s plans for its iPhone X and iPhone 8 models, the paper reported citing industry sources.
  • G7 summit which kicks off in Quebec – amid broiling tensions against the U.S. from its Group of Seven allies. France and Germany warned the U.S. that they would not sign a joint statement without concessions, but the American top economic adviser Larry Kudlow warned this week that U.S. President DonaldTrump would not back down from his tough stance on trade.
  • U.S.-China trade deficit jumps to $24.6 billion – imports to the world’s second largest economy also rose more than anticipated in May and at the fastest pace since January. However, China’s trade surplus with the U.S. rose 11.7% to $24.6 billion and the figure may reinforce Trump’s resolve to impose new tariffs against China as early as next week.

Major Index Futures

  • Overall SummaryThe market lost for most of the day under heavy selling, then recovered a bit late in the afternoon but still closed the day in negative territory (except for the Dow which ended positive).
  • S&P 500 futures –  ended the day loosing 0.7%
  • Dow 30 futures – ended upo 0.38%
  • Nasdaq Composite – heavy selling, ended the day down 0.70%
  • SmallCap 2000 futures ended the day down 0.49%
  • 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  – sideways – gold closed above 1300 which is a good sign since 1300 is a strong support level
  • Silver – bullish again and pushing up against 17 a strong resistance level
  • Crude Oil – bearish  – Crude oil continues to pull back despite an EIA inventory report that showed a greater than expected decrease in supplies.
  • Natural Gas – bullish trend pushing up against 3 a significant resistance 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  – Real Estate and Technology XLK are strong and so is energy.
  • Bearish – XLP Consumer Staples is the weakest sector, but  energy, utilities, and financials have also been lagging lately

 

 

  • 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 – $93.69 nice jump in the dollr this morning
    • The Charts Below are 3-Month Daily

 

 

 

 

 

 


Cryptocurrencies

  • Cryptocurrency 2-month Charts –Cryptocurrencies have recovered a bit recently but they all are down for the month,

 


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:

  • Mixed Market Bias – I am nuetral this morning, there is not much news and its a lazy Friday so I do not have a bias in one direction or the other.
  • 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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One Reply to “Morning Market Report for Friday June 8, 2018”

  1. Avatar AdiPuplampu says:

    Thank you kind Sir. Have a great weekend:)

Comments are closed.

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