– James F. Taulman, former Editor-in-Chief of the first independently licensed website to offer stock reports and services based on the CAN SLIM® investment system.
8:15 AM – MORNING MARKET UPDATE & WATCH LIST
SEE ALL MY CURRENT WATCH LISTS HERE: James’ Stock WatchLists
[dropcap]A[/dropcap]fter a solid up day yesterday, stock futures are pointing to a lower opening today.
The Dow is set to drop –40 points, or -0.2%, the Nasdaq is off -0.3%, and the S&P 500 is poised to dip -0.2% as trade tensions between US and China remain front of mind for Wall Street.
QUOTE OF THE DAY:
“You can lead a man to Congress, but you can’t make him think.”
– Milton Berle
European markets opened their session mixed. Stocks were flat in Germany but dropped -0.2% in France. Britain’s FTSE 100 index is up +0.4.
Stocks in Asia were also mixed, with the Shanghai Composite index falling -0.5% and Hong Kong’s Hang Seng index rising +0.1%. Japan’s Nikkei also edged up.
Amazon’s annual shareholder meeting kicks off in Seattle at 12 p.m. ET on Wednesday.
The Federal Reserve will release minutes from its meeting on April 30 and May 1 on Wednesday at 2 p.m. ET.
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BREAKOUT UPDATE:
All 2019 Breakouts from our Technical SetUps WatchList.
| SYM | LAST | ADDED TO WATCH LIST | BREAK OUT PRICE |
BREAK OUT DATE |
MAX BUY PRICE | % GAIN /LOSS |
| DRI | $124.78 | 5/4/19 | $122.47 | 5/20/19 | $128.59 | +1.89% |
| TWLO | $137.71 | 5/12/19 | $137.50 | 5/16/19 | $144.38 | +0.15% |
| LII | $280.60 | 5/16/19 | $277.15 | 5/16/19 | $291.00 | +1.24% |
| MMC | $97.15 | 5/4/19 | $95.92 | 5/11/19 | $98.57 | +1.28% |
| JCOM | $87.23 | 5/9/19 | $90.38 | 5/9/19 | $94.90 | -3.49% |
| TEAM | $125.54 | 5/2/19 | $117.16 | 5/8/19 | $123.02 | +7.15% |
JAMES’ NOTES:
DRI – After just breaking out on Monday, shares had some decent follow-through action yesterday with continued gains with volume and a new all-time high close.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
TWLO – Shares are pulling back a bit, yet remain above our noted 1st SUPPORT of $136. A break below there would be the first concern.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
LLI – Gaped down the day after breaking out, yet since has gradually traded higher. Did close at a new all-time high yesterday, however, volume was well below average.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
MMC – Decent gains yesterday to a new all-time high close. Shares remain above support.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
JCOM – This was an earnings breakout. Those always do carry more risk. Shares have been struggling, and actually triggered their first SELL signal on 5/13 with the above average volume declines and a close below the 50-day.
The 5/16 gains are very encouraging, yet do not completely negate the recent technical weakness.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
TEAM – This stock actually broke out in the middle of the worst week of 2019 for the market. Shares had an impressive three days of sharp gains with a huge increase in volume as the stock moved up from its 50-day moving average and cleared our TRIGGER PRICE of $117.16.
Since then the stock has been volatile in a tough market, yet for the most part, shares are holding on to their twice-claimed +10% gains as they have maintained our 1st SUPPORT.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
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He is looking for those select few which are setting up in sound technical bases and which looked poised to breakout that day.
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WATCHLIST UPDATE:
I ran my routine stock screens this morning, yet did not find any new stocks to add to our watch lists.
There are still 13 stocks on our watch lists.
Current Personal Portfolio Members can access all watch lists with updated trading criteria including – TRIGGER PRICE, TRIGGER VOLUME, and MAX BUY PRICE for every stock here.
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About the Founder: James F. Taulman – James served as Editor-in-Chief of the first independently licensed website that offered stock reports and services based on the CAN SLIM® investment system. He has developed a knack for being able to quickly and accurately analyze high-ranked stocks based on this winning investment strategy. Over the years, Mr. Taulman has enjoyed assisting individuals from professional money managers to private investors with their needs in relation to implementing this investment approach on a daily basis in the current marketplace. Each Sunday you could hear him deliver his weekly market report as part of the “Your Money Matters” radio program on ABC and CBS radio networks.
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Disclaimer: James Taulman is not an investment advisory service, nor a registered investment advisor or broker-dealer and does not purport to tell or suggest which securities or currencies customers should buy or sell for themselves. The independent contractors and employees or affiliates of Company may hold positions in the stocks, currencies or industries discussed here. You understand and acknowledge that there is a very high degree of risk involved in trading securities and/or currencies. The Company, the authors, the publisher, and all affiliates of Company assume no responsibility or liability for your trading and investment results. Factual statements on the Company’s website, or in its publications, are made as of the date stated and are subject to change without notice. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable or that they will not result in losses. Past results of any individual trader or trading system published by Company are not indicative of future returns by that trader or system and are not indicative of future returns which be realized by you. In addition, the indicators, strategies, columns, articles and all other features of Company’s products (collectively, the “Information”) are provided for informational and educational purposes only and should not be construed as investment advice.