– 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
[dropcap]T[/dropcap]he past week the market started off with a bust and ended with a boom.
QUOTE OF THE DAY:
“You are better to try something new, see it fail and learn from it, than do nothing.”
– Mark Zuckerberg
On Monday all 3 of the major averages sold off sharply and each closed below its shorter-term 10-day moving average. That was a technical line that each index had defended since they gaped up above there on October 11th, and got this current rally sprint going.
After a horrendous close at the lows Monday afternoon, we opened Tuesday with a sharp gap down. Luckily, those losses were short-lived as the major averages started climbing higher early that morning, then ended the day well off of those early lows.
The positive momentum continued with a modest gap up on Wednesday, then with more-steady trading during Thursday’s session.
If there were any questions at that point as to the rally’s strength, that was answered with an exclamation point to the bullish on Friday morning with the reaction to a very positive jobs report.
The major averages all opened that day with a strong gap up and quickly got back to near previous all-time highs. Meanwhile, that morning, we had 3 BreakOut Alerts – from our watchlist of just a-lucky 13 stocks.
Although all three of the major indices positively reversed from the mid-week lows in a bullish fashion, two of the three closed the week negative, albeit just slightly.
The Dow Jones ended the week off just -36 points or down –0.13% to close barely above 28K at 28015.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
This morning, U.S. stock futures are slightly lower, while markets in Europe fell some in early trading. Stocks in Asia barely budged.
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BREAKOUT ALERT UPDATE:
There were another 4 “BreakOut Alerts” this past week. We had 1 on Tuesday and 3 on Friday. The charts for all 4 have been updated below.
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: These stocks were first featured in my “Stock WatchList: Morning Update” before they broke out. You can now start receiving my “Stock WatchList: Morning Update” each market morning through the BuyingBreakOuts website for only $9 a month or just $97 for an entire year 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:
No matter the market, I always have a current watch list ready. There are now 13 stocks that we will be watching for a traditional break out to new highs.
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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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.