9:15AM – MORNING MARKET UPDATE & WATCH LIST
The market closed higher yesterday as the Dow gained +46, the Nasdaq advanced +16, and the S&P 500 rose +9.
QUOTE OF THE DAY:
“Intellectual growth should commence at birth and cease only at death.”
– Albert Einstein
Today we have the busiest day of earnings season as the S&P 500 is back near record highs.
Companies such as 3M (MMM), American Airlines (AAL), Comcast (CMCSA), Hershey (HSY), Southwest Air (LUV) and Twitter (TWTR) are reporting this morning. Then we have Amazon (AMZN), Capital One (COF), Intel (INTC) and Visa (V) after the close. In total there are over 180 companies reporting today.
Initial jobless claims, a rough way to measure layoffs, fell by 6,000 to 212,000 in the seven days ended Oct. 19th, the government said Thursday. The number of people already collecting unemployment benefits, known as continuing claims, slipped by 1,000 to 1.68 million.
It’s also big day for central bank watchers as Mario Draghi, a star in the field, delivers his final press conference as president of the European Central Bank. Christine Lagarde will take over starting November 1st. The ECB remains sharply divided over the move to reopen the stimulus taps last month.
We had another BreakOut Alert! yesterday as LAD announced earnings and blasted through its TRIGGER PRICE of $139.28 with a +360% increase in volume.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
NOTE: These stocks were 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.
No matter the market, I always have a current watch list ready. There are now 9 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.
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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