– 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 major averages posted back-to-back winning weeks while breaking above the previous highs and other key resistance levels.
QUOTE OF THE DAY:
“Democracy cannot succeed unless those who express their choice are prepared to choose wisely. The real safeguard of democracy, therefore, is education.”
– Franklin D. Roosevelt
The first week of September was arguably as bullish as the last week of August was, as the major averages again closed sharply higher.
We were first met with a sharp sell-off on Tuesday morning as the exchanges opened for regular trading after the Labor Day weekend.
Wednesday was the day which started this most recent sprint with a gap open. That action was confirmed with another even stronger gap open and volume-backed gains the following day. Thursday’s action was technically significant as all three of the major averages closed definitively above their 50-day lines.
On Friday, only the Nasdaq closed lower, yet still, all major indexes book a weekly gain of +1.5% or better.
Since the 8/23 sell-off, the Dow and S&P 500 have risen 7 of their 9 sessions.
After gaining +775 points during the previous week, the Dow Jone added +394 points (+1.5%) this week.
The index closed at another new high (26,797) since falling below its 50-day moving average at the start of August.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
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BREAKOUT UPDATE:
Of the 14 stocks we had on out watch list last week, we had 7 of those break out this past week.
NOTE: All of the stock’s above first appeared on the watch list in James’ Sunday Stock Report. You can request a complimentary copy here.
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WATCHLIST UPDATE:
Regardless of any market status, I still run stock screens on a daily basis to always have a current watch list ready. This weekend, while reviewing well over 200 charts, I found another new stock to add to our watch lists.
There are now 20 stocks that we will be watching for a traditional break out to new highs this coming week.
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.
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.