8:00 AM – MORNING MARKET UPDATE & WATCH LIST
SEE ALL MY CURRENT WATCH LISTS HERE: James’ Stock WatchLists
Yesterday was another rough day on Wall Street as the Dow closed -617 points, or -2.4%, lower. The S&P 500 also ended down -2.4% and the Nasdaq lost -3.4% on the session.
QUOTE OF THE DAY:
“Winning or losing of the election is less important than strengthening the country.
– Indira Gandhi
The latest trade battle between the United States and China is causing fresh pain for investors in Asia, but other global markets are looking brighter.
Hong Kong’s Hang Seng (HSI) closed -1.5% lower, the Shanghai Composite (SHCOMP) fell -0.7% and Japan’s Nikkei (N225) shed -0.6%. South Korea’s KOSPI (KOSPI) managed to buck the trend, edging -0.14% higher.
However, this morning, European indexes including the FTSE 100 (UKX), CAC 40 (CAC40) and DAX (DAX) all opened higher.
Also, U.S. stock futures are pointing up with the Dow set to rise about 160 points, the Nasdaq is tracking a +0.7% rise, and the S&P 500 could open up +0.5%.
Now You Can Start Receiving James’ –
Stock WatchList: Morning Update
He is looking for those select few which are setting up in sound technical bases and which looked poised to breakout that day.
Each stock is listed with specific trading criteria such as a TRIGGER PRICE, TRIGGER VOLUME and MAX BUY PRICE.
Now just $9 a month through James’ BuyingBreakOuts.com website.
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Marsh & McLennan Companies, Inc. (MMC – Nasdaq)
This choice selection barely broke out on last Friday as it traded just 23 cents above its TRIGGER PRICE.
Volume was +46% above the normal rate, and that is a sign of decent conviction.
|SYM||LAST||ADDED TO WATCH LIST||BREAK
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
|CURRENT % GAIN/LOSS|
Shares made an abrupt drop on Monday along with the broader market which gaped down considerably.
As previously noted – a break back down into the base or below our 1st SUPPORT would be an initial concern and that did occur.
I must now lower our 1st SUPPORT from $95 to the 50-day moving average, currently at $93.26.
Our 2nd SUPPORT is now the previous lows at $92.00.
NOTE: Receive this daily report in your email each morning.
WATCHLIST UPDATE FOR TUESDAY:
I removed DISCA and SSP as each has fallen too far below their TRIGGER PRICE. Neither stock was a BUY.
We now have a total of 12 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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