– 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.
6:00 AM – MORNING MARKET UPDATE & WATCH LIST
[dropcap]T[/dropcap]he current rally got a needed boost yesterday when the Dow and Nasdaq both closed up +1.4%, while the S&P 500 rose +1%.
QUOTE OF THE DAY:
“What do you despise? By this are you truly known.”
– Frank Herbert
This morning, stocks in Asia rallied on optimism about trade and more easy money. The Hang Seng leaped nearly +2.6%, while the Shanghai Composite rose nearly +1%. The Nikkei increased by +1.7%.
European markets dipped on the heels of big gains. Britain’s FTSE 100 shed -0.3%, while France’s CAC 40 fell -0.2% and Germany’s DAX lost –0.1%.
The Fed’s latest rate decision will post at 2:00 p.m. ET, followed by a press conference.
Investors are looking for Powell to deliver a solidly dovish message, following his remarks two weeks ago that the Fed would act as appropriate to sustain the economic expansion in the United States.
Expectations for a rate cut in July are now at nearly 84%, according to the CME’s FedWatch tool.
Also, driving investor sentiment in the meantime is Trump’s announcement Tuesday that he will have an “extended” meeting with Chinese President Xi Jinping at the G20.
As I pointed out in the latest issue of my Sunday Stock Report – “…there are two big issues which will be driving the markets at least through the end of the month.
First, there is the FOMC meeting on this coming Tuesday and Wednesday to discuss the latest monetary policy after May’s market selloff.
Later this month in Japan, we have the G-20 meeting on June 28th and 29th where we could see Trump and Xi Jinping talk next about trade.
A dovish tone from the Fed or progress in the trade negotiations could help put some life into this fledgling rally.”
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BREAKOUT UPDATE:
We had another breakout yesterday.
So far this week, we have had a total of 4 breakouts from our watch lists.
| SYM | LAST | ADDED TO WATCH LIST |
BREAK OUT PRICE |
BREAK OUT DATE |
MAX BUY PRICE |
% GAIN/ LOSS |
| OMCL | $84.68 | 6/16/19 | $85.32 | 6/18/19 | $89.59 | -0.75% |
| CELG | $97.15 | 6/2/19 | $97.17 | 6/17/19 | $102.03 | -0.02% |
| TDY | $257.45 | 6/16/19 | $256.55 | 6/17/19 | $269.38 | +0.35% |
| KDP | $30.07 | 6/13/19 | $29.86 | 6/17/19 | $31.35 | +0.70% |
NOTE: You can now start receiving James’ Technical SetUps WatchList each market morning through his BuyingBreakOuts website for only $9 a month here.
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WATCHLIST UPDATE:
I continue to run stock screens on a daily basis searching for high-ranked leaders, with solid fundamentals that are building bullish technical bases.
I did not add any new stocks to our watch lists this morning.
There are a total of 17 stocks on our watch lists.
You can now start receiving my Technical SetUps WatchList each market morning through the BuyingBreakOuts website for only $9 a month here.
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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Now You Can Request a Complimentary Copy of James’ Flagship Weekly Newsletter…
The Sunday Stock Report –
w/ 6 Stocks on the WatchList
James’ long-running weekly newsletter is completely focused on only highly-ranked stocks which match up very favorably with the proven and winning guidelines.
It features only about 6 – 12 stocks on average in a weekly watch list.
We’ve found that this watch list is ideal for short-term 0r intermediate-term traders, as well as longer-term investors.
Each stock has both strong fundamentals for potential longer-term growth and the solid technical characteristics which may be more appealing to shorter-term traders who like to buy breakouts and sell a few days later with good profits.
NOTE: On SUNDAY THERE WERE A TOTAL OF 10 STOCKS on the watch list in the current issue. As of Wednesday morning, there are now 6 stocks as 4 have already broken out this week.
REQUEST YOUR COMPLIMENTARY COPY 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.