7:00 AM – MORNING MARKET UPDATE & WATCH LIST
SEE ALL MY CURRENT WATCH LISTS HERE: James’ Stock WatchLists
Yesterday, the Dow jumped +215 points, or +0.8%, on solid earnings from companies including Walmart (WMT), and upbeat economic reports on manufacturing activity, housing starts and jobless claims. The S&P 500 rose +0.9%, and the Nasdaq advanced +1%.
QUOTE OF THE DAY:
“I surround myself with good people who make me feel great and give me positive energy.”
Solid earnings and economic news may have helped prop up U.S. markets in recent days. That’s hasn’t been the case in Europe and Asia, where the escalating US-China trade war is once again weighing down shares.
Hong Kong’s Hang Seng index fell another -1.2% Friday, while the Shanghai Composite index dropped nearly -2.5%. South Korea’s KOSPI index shed -0.6%. Japan was the exception, with the Nikkei rising -0.9%.
European markets also opened lower. Britain’s FTSE lost almost -0.2%. Markets in Germany and France fell -0.6% and -0.3%, respectively.
Here at home, markets are also set to open lower following a third consecutive day of gains. The Dow is set to start Friday 88 points lower, or down -0.3%. The Nasdaq could drop -0.5%, and the S&P 500 is poised to lose -0.4%. If the major averages can positivily reverse, that would be technically siginicant with fourth-straight day of gains.
BREAKOUT UPDATE: All May 2019 BreakOuts Alerts
We had another two BreakOut Alerts on Thursday.
That makes a total of 5 for the month of May.
TWLO was a solid break out to new highs yesterday with nearly double the daily volume. Shares closed the session at a new all-time high, posting +3.5% gains.
LII also broke out yesterday, yet didn’t fare nearly as well. Shares ended the breakout day back below their TRIGGER PRICE of $277.55. The stock closed the session down -1.08% as volume was well above average. That is never a good sign.
Our MCC, a BreakOut Alert from the previous week, held up through the market pullback earlier this week and is now just -0.70% from a new all-time high.
Shares of JCOM traded aggressively higher Thursday, just after triggering a noted SELL signal on Wednesday as shares were starting to break below another support level. The stock closed yesterday just below its 50-day moving average of $86.91. A break above there would be a bullish sign.
After closing with a +10% gain last week, our TEAM did dip early this week, yet held above our noted support level, and has now reclaimed it’s +10% gain. Shares closed Thursday, at a new all-time high.
Start Receiving Our BreakOut Alerts
…available at BuyingBreakOuts.com
He is looking for those select few which are setting up in sound technical bases which he can add to his watch list.
If a stock from his watch list breaks out above its TRIGGER PRICE, then he sends out a BreakOut Alert to subscribers via email.
WATCHLIST UPDATE FOR FRIDAY:
With the 2 fresh breakouts we had yesterday, there are now 11 stocks on our watch lists.
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.
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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