The Morning Market Report is part of your 7 Step Process to Successful Trading by:
- helping you start at the top of the markets,
- choosing a trading strategy, and
- finding and analyzing potential trades.
This report focuses on short-term swings in the market (especially overnight futures movements) that can help you best begin you trading morning. In this daily report, you’ll receive:
- a summary of major market news,
- the list of that day’s economic calendar,
- information regarding the major markets indexes,
- industry sector performance,
- major commodities,
- world currencies. and
- links to useful sites and/or stories.
So don’t start trading uninformed; add the Morning Market Report to your daily routine.
- Definitions of Economic Reports – If you don’t understand any of the economic reports listed click here.
- Click on report links below to see the results of the economic data during the day
- Things to watch for this morning: Today is a slow news day, there is only the Tresury budget to released but that should not move the markets significantly.
- 2:00 PM ET –Treasury Budget
- Qualcomm rejects Broadcom’s $103 billion takeover proposal – saying the offer “dramatically” undervalued the U.S. company. Read More…
- Alibaba (BABA) sells $45 billion in one day – during the annual online shopping fiesta known as ‘Singles Day’, creating a new record in global retail sales for any single day and cementing it as the world’s biggest shopping event.
- General Electric Co (GE) said on Monday it would halve its quarterly dividend to 12 cents per share – This is the third time in its history that the 125-year-old industrial conglomerate has cut its dividend.
Major Index Futures
- Market Overview – The Nasdaq was virtually flat Friday, the S&P 500 slipped 0.1% Friday, the blue-chip Dow Jones industrial average declined 0.2% Friday, and volume fell across the board.
- S&P 500 – 2,571 -bullish, above the 50-day moving average, support at 2550
- Dow 30 – 23,296 – bullish, above its 50-day moving average, resistance at 23,500
- Nasdaq 100 – 6,285 – bullish, above its 50-day moving average, resistance at 6500
- SmallCap 2000– 1466 – sideways consolidation – the Rut holding above the 50-MA this could be a bullish signal
- S&P 500 VIX – 12.01 – as investors get worried about the market the VIX starts to rise, and we can sell options and get better premiums
- Charts Below are 2-Month Daily
- Gold – $1277 – sideways volatile to slightly bearish (just below the 50 MA) resistance at 1300
- Silver -16.909 – sideways volatile to slightly bearish (just below the 50 MA) resistance at 17.00
- Crude Oil – $56.77– bullish, Crude is forming a base (or you can call it a flag) within a bullish trend
- Natural Gas – $3.160– bullish above the 50 MA, NG is rising as the winter months set in and consumption increases
- Charts Below are 2-Month Daily
- Bearish Sectors – Healthcare (XLV) is the only sector that is still below the 50-MA.
- Bullish Sectors – Most of the other sectors are very bullish especially Technology (XLK), Energy (XLE), Real Estate (XLRE) and Utilities (XLU).
- Neutral Sector – Industrials (XLI) and Financials (XLF) and Consumer Discretionary (XLP) have not done very much in the last month.
- The charts below show how the sectors did yesterday and the 5-day sector performance.
- The chart below shows the last 20 days of sector performance
- 2-month charts
- I have added some key industries to the 2-month charts below – retail (XRT) has been week but we are going into shopping season so watch for a turn-around. Semiconductors (SMH) are also looking really good.
- To get a live view of the curve and see an animation of how it has performed over the last 20 years click here.
- To learn what the dynamic yield curve click on the title above labeled “Dynamic Yield Curve”
- This chart is an important indicator to watch. watch for a flat or inverted yield curve as a potential early indicator of a market correction.
- The dynamic yield curve is still looking fine with the short-term rates below the long-term rates.
- USD – $94.35 – sideways to slightly bullish – resistance at 95
- The Charts Below are 3-Month Daily
- Cryptocurrency 1-month Charts
- Bitcoin – bullish – it’s a whole new world when a bullish retracement in bitcoin still has us at over $6,700
- Ethereum – volatile sideways
- Litecoin – volatile sideways
- To learn how the use the Tackle trading list: click on the title above “Tackle Trading 25”
- Trading Thoughts on the Tackle Trading 25 – we are almost out of earning (if you see a blue “?” click on it and get the earning date)
- For 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 Bearish Trends – Bear Call Spreads (be careful with overly aggressive directional trades like Shorting or buying Puts)
- Notice in our tackle 25 chart below that I have BTE (a new script that should let us know when earning is near) as well as ImpVolatility (that will let us know which options will sell for the best premium), and IV Rank (that will guide you in your Vega strategy plays).
- -1 to 0 (slightly bearish to neutral ) Market Bias – Index futures point to a lower opening this morning, that along with GE (a member of Dow) slashing its dividends in half puts a dark cloud on today’s open. With no major news on the calendar, I am not expecting the markets to do very much today.
- Wishing you the best of luck in your trades and in life 🙂
Bearish Neutral Bullish
-3 -2 -1 0 +1 +2 +3
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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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