Futures Higher – New Addition SF Looks Ready to BreakOut

It was a relatively quiet day in the market yesterday, and this was welcomed action after several days earlier this week with an increase in volatility.

This morning futures are edging up.

European markets are all positive in early trading.

Most Asian markets closed with just small losses.

Mainstream investors are waiting for Labor Department officials to release the January jobs report which is scheduled for 8:30 AM ET. People say – “It’s one of the most important measures of the U.S. economy and the results are known to cause markets to swing.”

More importantly…

We had no new BreakOut Alerts, yesterday.

Our last 3 BreakOut Alerts which I issued simultaneously on Wednesday morning (TREE, GPIGHL) have yet to confirm their individual BUY signals.

Again, volume on a breakout needs to be at least on pace to make our TRIGGER VOLUME hurdle which is always +50% above a stock’s daily average volume while shares are trading up and above the stock’s TRIGGER PRICE.

Those 3 stocks remain on their respective watch list as we watch for a proper entry.

See the chart and specific trading criteria for each selection here.

Our latest Breakout Alert to confirm a BUY signal was DPZ on this past Tuesday.

Shares closed Thursday up +2.3% with more than double the stock’s normal daily volume.

That bullish action had the stock making IBD’s – “Stocks on the Move” table on the popular newspaper’s website homepage at investors.com.

Chart courtesy of stockcharts.com – Click chart to enlarge.

Our previous breakouts before DPZ are now being updated on a new page which we are developing here. This is in order to keep the focus of this daily morning report on our watch lists and potential breakouts for the day.

I just ran my routine stock screens and added one new stock to the TrendLine SetUps WatchList and one stock to the Technical SetUps WatchList

I updated all 3 of our watch lists. See here.

At this point, we have stocks on our Technical SetUps WatchList and another 8 on our TrendLine SetUps WatchList. There continues to be 0 stocks which meet the strict criteria for the High-Ranked Leaders WatchList.

Of those 14 set-ups, I will be watching these 7 closely today as they looked the most poised to breakout/confirm BUY signals.

SF, ARLP, ASTE, ENV, TREEGPI, and GHL

Here is a closer look at one of today’s new watch list additions….

Stifel Financial Corp. (SF – NYSE) provides retail brokerage; securities trading; investment banking; investment advisory; retail, consumer, and commercial banking; and related financial services for individual investors, corporations, municipalities, and institutions in the United States, the United Kingdom, and Europe.

The company has a solid fundamental history and is overall highly ranked.

Shares actually broke out on Wednesday after the company reported quarterly earnings. The stock did pull back some the following day, yet remained above the 50-day moving average.

Chart courtesy of stockcharts.com – Click chart to enlarge.

From here, any trading above the stock’s posted TRIGGER PRICE while shares are at least on pace to make the TRIGGER VOLUME hurdle would have this selection confirming a technical BUY signal by default up to the MAX BUY PRICE.

Please see the link to the watch list tables below for each stock’s specific trading criteria such as the TRIGGER PRICE, TRIGGER VOLUME, MAX BUY PRICE, and the MAX STOP LOSS GUIDE.

*(e) – Earnings Breakout: Can be more rewarding, yet also carry more risk.

Any questions or concerns, please email me at james@jamestaulman.com.

ALL OF TODAY’S WATCH LISTS ALONG WITH
ANNOTATED CHARTS ARE HERE