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Morning Market Report for Monday July 2, 2018

July 2, 2018

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Things to watch for this morning: Today pay attention to the ISM Mfg Index at 10 AM. which will offer advance data for June and is expected to be strong. To see the entire week’s calendar make sure to check this week’s Market Scoreboard.

Economic News

  • Dell Technologies to buy out VMware – After the deal, VMware shareholders would own between 20.8 percent to 31 percent of Dell depending on how many investors opt for cash, Dell said.
  • U.S.-Europe Trade Tension Escalates – The European Union has threatened to impose new retaliatory tariffs worth $300 billion, if the U.S. moves forward with tariffs on European cars.

Major Index Futures

  • Overall SummaryMarkets closed higher Friday but that optimism was tempered by the stocks fading in the afternoon. To see more in-depth commentary on markets make sure to check this week’s Market Scoreboard.
  • S&P 500 futures – closed up 0.08% Friday,  resistance at 2,800 and support at 2,700
  • Dow 30 futures  closed up 0.23% Friday, resistance at 25,500 and support at 24,000
  • Nasdaq Composite – closed up 0.09% Friday, yesterday, resistance at 7,800 and support at about 7,400
  • SmallCap 2000 futures – ended the day down 0.12%, 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.


  • Gold  – bearish -at support near the 1250 range with overhead resistance at 1300
  • Silver – slightly bearish, at support at 16 with overhead resistance at  17
  • Crude Oil – bullish, Crude oil continued to surge past resistance near 74.00, support at 66.50
  • Natural Gas – continues consolidating near strong resistance at 3.000, and finding support at 2.900
  • Interactive Charts


  • The below are snapshots of the last two months of sector performance as well as dynamic charts. 
  • Bullish  – XLP, XLU, and XLY are strongest sectors.
  • Bearish – XLF and XLI are the weakest sectors.
  • To see more in-depth commentary on sectors make sure to check this week’s Market Scoreboard.
  • Interactive Major Sector ETF’s


    • USD – $94.56 consolidating within a longer-term uptrend
    • Cryptos  –It’s another poor start to the day for cryptocurrency, with the majors seeing declines early on following last week’s losses, though there could be a bounce later in the day should the news wires remain trader friendly.

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 set to gap down on the open as early morning Dow, Nasdaq, and S&P 500 futures point to big losses early on. This is more than likely being triggered by global stock market selling on U.S. versus the world trade war fears.
    Dow Jones Futures Signal Big Losses; Tesla Jumps On This Key Milestone
  • If you haven’t checked out the scouting reports be sure to do so, and make sure to start with the Market Scoreboard.
  • In summary, Oil continues to rally, gold and silver keep testing support, and cryptos keep inching down as the market looks to open gap down on trade war fears.
  • I’ve been up driving all night, as I type this for all our team-members I send you greeting from Virginia as I cross the country and head toward New York from Miami.
  • Good luck traders!

 If you are not a Pro Member and following the Stock & Option Picks, then check it out! There is a Promo code for Free 15 day trial:  THETA

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 Monday July 2, 2018”

  1. Thanks Hector! Drive safely,

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