8:45 AM – MORNING MARKET UPDATE & WATCH LIST
Yesterday, the Dow closed +31 points higher, while the S&P edged up +1.6 points, the Nasdaq added +9 points as the major averages continue to make new highs.
QUOTE OF THE DAY:
“Your time is limited, so don’t waste it living someone else’s life.”
– Steve Jobs
Investors seemed convinced that they will see the phase-one trade deal finalized before the next major tariff increase deadline of December 15th.
This morning, U.S. futures point higher. Markets in Europe gained in early trading, while stocks in Asia rose outside Japan.
For earnings, we have Aramark, our Home Depot, Kohl’s and TJX reporting earnings before the open. Urban Outfitters follows after the close.
As I stated in last week’s (11/10) Sunday Stock Report – “We will also be looking for the start of a Santa Claus rally, as we are already in the final eight weeks of 2019.”
So far, so good.
Of course, the market status continues to be officially as -“Confirmed Uptrend” with 4 distribution days on S&P 500, and now 2 on the Nasdaq.
BREAKOUT ALERT UPDATE:
CGI Inc. (NYSE – GIB)
CGI Inc., together with its subsidiaries, provides information technology (IT) and business process services in Canada, Northern Europe, France, the United States, the United Kingdom, Europe, and the Asia Pacific.
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Chart services courtesy of stockcharts.com. Annotations by James Taulman.
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NOTE: This stock was 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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