– 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.
6:30 AM – MORNING MARKET UPDATE & WATCH LIST
[dropcap]L[/dropcap]ast week was another technically bullish week on Wall Street with all the major averages marking more milestones on hopes of an interest rate cut later this month.
QUOTE OF THE DAY:
“You’ve got to get to the stage in life where going for it is more important than winning or losing.”
– Arthur Ashe
The Dow and the S&P 500 broke above their psychological levels of 27,000 and 3,000 respectively this week, while the Nasdaq broke out to new all-time highs.
At this point, all three of the major indexes have closed higher 5 out of the last 6 weeks – in tandem – with the only down week being at the end of June, and those were with modest losses.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
This week we will have the start of earnings season.
Results from two major U.S. railroads will also be closely watched for signs of how the trade war is affecting freight companies and the wider economy.
Also, it’s said that corporate profits are expected to take a hit from trade tensions, with S&P 500 companies expected to report a -0.4% dip in second-quarter earnings, according to Refinitiv IBES data.
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BREAK OUT UPDATE:
The latest breakout from the Technical SetUps Watch List.
| SYM | LAST | ADDED TO WATCH LIST |
BREAK OUT PRICE |
BREAK OUT DATE |
| JYNT | $19.41 | 7/12/19 | $19.91 | 7/12/19 |
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
| MAX BUY PRICE |
% GAIN/ LOSS |
1st SUPPORT |
2nd SUPPORT |
MAX STOP LOSS GUIDE |
| $20.91 | -2.51% | 50 DMA | N/A | $18.32 |
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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.
There are now a total of 13 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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James’ Flagship Weekly Newsletter.
Now You Can Request a
Complimentary Copy of…
The Sunday Stock Report –
[dropcap]J[/dropcap]ames’ 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.