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, we have bank reserve sentiment which is a two-week period that ends every other Wednesday during which commercial banks must meet reserve requirements stipulated by the Federal Reserve. Also in focus are productivity, which is expected to be revised higher, and unit labor costs, which are expected to be lower.
- 7:00 AM ET – MBA Mortgage Applications
- 8:15 AM ET – ADP Employment Report
- 8:30 AM ET – Productivity and Costs
- 10:30 AM ET – EIA Petroleum Status Report
- T-Mobile board approves up to $1.5 billion buyback program – The stock repurchase program would take place through Dec. 31, 2018
- Bitcoin nears 13,000 – looks like bitcoin wants to see how long it can climb at $1,000 a day!
- UnitedHealth to buy DaVita primary care unit for $4.9 billion – The all-cash deal is UnitedHealth’s second major acquisition in 2017 that aims to broaden its reach beyond insurance and boost its outpatient care services through a large network of clinics.
- U.S. private sector adds 190,000 jobs in November – down sharply from the month before and roughly in line with economists’ expectations
- U.S. third-quarter unit labor costs revised sharply down – The Labor Department said on Wednesday that unit labor costs, the price of labor per single unit of output, dropped at a 0.2 percent annualized rate in the last quarter instead of increasing at a 0.5 percent pace as reported last month.
Major Index Futures
- Market Overview – On Tuesday the Nasdaq composite was up as much as 0.9% in late-morning trading, but closed 0.2% lower. The S&P 500 fell 0.4% and the Dow Jones industrial average 0.5%, even the small-cap Russell 2000 lost 1% and has now lost most of its gains that they had since they started their latest rally on November 28th.
- S&P 500 – 2,627 -bullish, above the 50-day moving average, new support at 2600, 2650 is acting as resistance
- Dow 30 – 24,164 – bullish, above the 50-day moving average, pushing up against resistance at 24,500
- Nasdaq 100 – 6,255– still above the 50-day moving average but technology (which the Nasdaq is heavy in) continues to sell off.
- SmallCap 2000– 1516 – bullish – today the rut is looking very bullish
- Today I placed the CBOE Volatility indexes for the SPX, Nasdaq, Dow, and EEM so that you can gauge how fearful investors are regarding the various indexes.
- Charts Below are 2-Month Daily
- Gold – $1266 – slightly bearish, overhead resistance at 1300 getting near support at 1250-1265.
- Silver -16.055 – bearish, not following gold, but if you like to stack physical silver (like me) that you see this as a dip and you say “its time to buy some bullion”
- Crude Oil – $56.66 – bullish, above the 20-day moving average
- Natural Gas – $2.948 – sideways to slightly bearish, support at 2.8
- Charts Below are 2-Month Daily
- Bearish Sectors – Money is flowing out of Technology (XLK), Real Estate (XLRE) and Healthcare (XLV)
- Bullish Sectors – Everything is bullish especially Consumer Discretionary (XLY) and Consumer Staples (XLP) because consumers are spending money (ho ho ho). Also, institutional money is moving into Financials.
- 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
- USD – $93.39 – sideways – overhead resistance is at $95, and support below at $91
- The Charts Below are 3-Month Daily
- Cryptocurrency 1-month Charts
- Bitcoin – bullish
- Ethereum – bullish
- Litecoin – bullish
- 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 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 Trends
– Bear Call Spreads (be careful with overly aggressive directional trades like Shorting or buying Puts)
- Trading Thoughts on the Tackle Trading 25
- Ambarella (AMBA) is the only stock on the list with an upcoming earnings announcement left.
- Notice in our tackle 25 chart below that I have BTE (a 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 (neutral to slightly bearish) Market Bias – Futures point to a lower opening today, global stocks were also lower amid geopolitical risk, and the economic reports that have been released this morning add to that bearish bias.
- 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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