– 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 S&P 500 closed at a record Thursday — its first all-time high in seven weeks — in a broad market rally, after the Federal Reserve signaled that an interest-rate cut may be forthcoming.
QUOTE OF THE DAY:
“That man is a success who has lived well, laughed often and loved much.”
– Robert Louis Stevenson
This morning, European markets are doing better. Britain’s FTSE 100 increased +0.3% in early trading. Germany’s DAX jumped +0.5% and France’s CAC 40 rose +0.8%.
Stocks in Asia were mixed. Hong Kong’s Hang Seng lost -0.3%, and Japan’s Nikkei dropped almost -1%. The Shanghai Composite, meanwhile, gained +0.5%.
All three of the major averages did set milestones yesterday as the Dow closed above the previous highs set in late-April, the Nasdaq closed above 8K, and the S&P 500 closed at a new high, although by just 6 cents.
Resistance of the previous highs still looms.
BREAKOUT UPDATE:
Of the 23 breakouts that we have had for June – all but three closed up yesterday.
The day’s losers were ARCC (P/L: – 0.7%) which broke out on 6/10, BAM (P/L: -0.3%) and ULTA (P/L: -0.4%) which both just broke out Thursday morning.
Tandem gains such as these may not seem that surprising considering the day’s bullish broader market action, however, six of those 20 closed yesterday with a volume-backed gain to a new all-time high. These stocks are still showing signs of accumulation; several days – and in some cases weeks – after their initial breakout.
6 Leaders Close Thursday With Volume-Backed Gains to a New All-Time High
| SYM | LAST | ADDED TO WATCH LIST |
BREAK OUT PRICE |
BREAK OUT DATE |
% GAIN/ LOSS |
| OMCL | $90.73 | 6/16/19 | $85.32 | 6/18/19 | +6.34% |
| KDP | $30.91 | 6/13/19 | $29.86 | 6/17/19 | +3.52% |
| HCP | $33.29 | 6/2/19 | $32.33 | 6/17/19 | +2.97% |
| TNET | $70.42 | 5/23/19 | $65.19 | 6/7/19 | +8.02% |
| V | $173.74 | 6/6/19 | $165.84 | 6/6/19 | +4.76% |
| AWI | $98.15 | 6/2/19 | $89.54 | 6/3/19 | +9.62% |
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
NOTE: You can now start receiving James’ Technical SetUps WatchList each market morning through his BuyingBreakOuts website for only $9 a month here.
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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.
I did not add any new stocks to our watch lists this morning.
There are a total of 16 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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6 BreakOuts So Far This Week From…
James’ Flagship Weekly Newsletter.
Now You Can Request a
Complimentary Copy of…
The Sunday Stock Report –
w/ Now 4 Stocks Still on the WatchList.
[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.