– 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.

8:30 AM – MORNING MARKET UPDATE & WATCH LIST

After a 10 AM selloff yesterday, after the release of another disappointing economic report, the Dow Jones ended the day up +122 points; the S&P 500 gained +23 points; and the Nasdaq advanced +87 points.

A surprisingly weak reading from the Institute for Supply Management’s manufacturing index has already heightened Wall Street’s blood pressure. Fears of a spillover into the wider economy were reinforced Thursday when the ISM said its non-manufacturing index, which measures activity among service providers such as banks, restaurants and hotels, fell to its lowest level since August 2016.


QUOTE OF THE DAY:

“Get your facts first, then you can distort them as you please.”
– Mark Twain


The major averages bounced from found support of their 200-day moving averages.

Chart services courtesy of stockcharts.com. Annotations by James Taulman.

This morning, futures are considerably lower with the Dow’s off -70 points. Markets in Europe were mixed, while stocks in Asia dipped lower.

The September U.S. jobs report will be releaed at 8:30 a.m. ET.

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RELATED LINKS:

IBD: How To Spot Major Stock Market Tops: Track The Distribution Days

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BREAKOUT UPDATE: 

We had another BreakOut Alert yesterday.

Apartment Investment and Management Co. (AIV – NYSE)

Apartment Investment and Management is a real estate investment trust focused on the ownership and management of quality apartment communities located in select markets in the United States. Aimco is one of the country’s largest owners and operators of apartments, with ownership interests in 132 communities in 17 states and the District of Columbia.

SYM LAST ADDED TO WATCH LIST TRIGGER PRICE MAX BUY PRICE
AIV $52.73 9/19 $52.59 $55.22


Chart services courtesy of stockcharts.com. Annotations by James Taulman.

1st
SUPPORT
2nd
SUPPORT
MAX STOP LOSS GUIDE %
GAIN/
LOSS
$54.00 50 DMA $48.38 +0.27%

NOTE: This stock was on my Technical SetUps WatchList. You can now start receiving my Technical SetUps WatchList each market morning through the BuyingBreakOuts website for only $9 a month here.

Questions? – Click here.

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BuyingBreakOuts.com

“Morning High-Ranked Stock Watch List & Intra-Day BreakOut Alerts”

Start Receiving Our Free BreakOut Alerts

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WATCHLIST UPDATE:

Now matter the status of the market, we should always have a current watch list ready.

There are now 11 stocks that we will be watching for a traditional break out to new highs.

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.

Questions? – Click 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.