– 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.
7:30 AM – MORNING MARKET UPDATE & WATCH LIST
[dropcap]T[/dropcap]he major averages finished lower on Tuesday. Although they remained close to the all-time highs, each recorded at the start of the week, major indexes snapped their multi-day winning streaks.
QUOTE OF THE DAY:
“I have been fortunate to have my game peak at the right times.”
– Tiger Woods
The S&P 500 closed in the red for the first time in six days, down -0.3%. The Dow finished -0.1%, or 24 points lower, ending a four-day winning streak.
The Nasdaq Composite closed -0.4% lower. It had been in the green for two days in a row before.
Despite Tuesday’s modest losses, it wouldn’t take much for markets to climb to new record highs on Wednesday. Or stocks could continue their lackluster trade just below the brink of record highs until the Federal Reserve meets at the end of the month.
This morning, futures point to slight gains. Stocks have struggled to find direction in recent days after hitting record highs. The Dow is set to rise almost 40 points, or +0.1%. The Nasdaq could jump +0.3%, while the S&P 500 is tracking up +0.2%.
European markets opened broadly lower. Britain’s FTSE 100 lost -0.2%, while Germany’s DAX fell slightly in early trading. Stocks in Asia also declined. Hong Kong’s Hang Seng and the Shanghai Composite shed -0.2%. Japan’s Nikkei dropped -0.3%.
Bank earnings continue Wednesday with Bank of America (BAC), which reports results before US markets open. Investors want to see how the bank has fared in the current interest rate environment.
JPMorgan Chase (JPM) shared better-than-expected earnings on Tuesday, but downgraded its outlook due to expected rate cuts from Federal Reserve, which would crimp the revenue it brings in from lending.
Also on the earnings radar: Netflix (NFLX), which will report results for the three months ending in June after US markets close. Investors will scrutinize the company’s finances amid growing competition from companies like Disney (DIS) and AT&T (T), CNN’s parent company.
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BREAK OUT UPDATE:
The latest breakouts from the Technical SetUps Watch List.
| SYM | LAST | ADDED TO WATCH LIST |
BREAK OUT PRICE |
BREAK OUT DATE |
MAX BUY PRICE |
% GAIN/ LOSS |
| CNI | $95.27 | 6/30/19 | $95.18 | 7/16/19 | $99.94 | +0.09% |
| CYBR | $139.59 | 7/11/19 | $138.83 | 7/15/19 | $145.77 | +0.55% |
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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 15 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.