– 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 current stock market rally which was officially confirmed on the previous Friday, looks to be gaining some strength after a lackluster first week.
QUOTE OF THE DAY:
“Today I choose life. Every morning when I wake up I can choose joy, happiness, negativity, pain… To feel the freedom that comes from being able to continue to make mistakes and choices – today I choose to feel life, not to deny my humanity but embrace it.”
– Kevyn Aucoin
This morning, the Dow is set to jump +60 points, or almost +0.2%, when markets open. The Nasdaq could rise +0.5% and the S&P 500 is poised to climb about +0.3%.
Overseas, the European markets are participating with gains in early trading on remarks from Draghi. France’s CAC 40 leaped +0.9%. Germany’s DAX rose +0.5%.
Most stocks in Asia also finished their session higher. The Shanghai Composite rose +0.1%, while Hong Kong’s Hang Seng gained +0.9%. However, the Nikkei fell –0.7%.
The U.S. central bank kicks off its 2-day June meeting today. Its rate decision and press conference follow on Wednesday.
U.S. housing starts and building permits will post at 8:30 a.m. ET.
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BREAKOUT UPDATE:
On Monday, we had two more stocks break out from the watch list included this week’s Sunday Stock Report. We still have 8 stocks on that watch list which we are now monitoring for more buyable breakouts as the current rally firms.
REQUEST YOUR COMPLIMENTARY COPY HERE
One of the breakouts from yesterday is…
Keurig Dr Pepper, Inc. (NYSE – KDP)
This selection was just added to the Technical SetUps WatchList last Thursday morning.
Shares traded above the stock’s posted TRIGGER PRICE of $29.86 just after 10 AM yesterday while the volume was running above the normal rate. This confirmed a BUY signal for subscribers.
This was a news-based breakout as shares closed yesterday at postmerger highs following an analyst upgrade based on – “…upbeat growth outlook in the coming years.”
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
Going forward, any above average volume declines would be the first concern. There is solid support offered by the 50-day moving average ($28.34) and near-coinciding 10 DMA at $28.59.
NOTE: You can now start receiving James’ Technical SetUps WatchList each market morning through his BuyBreakOuts 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 added another stock to our Technical SetUps WatchList this morning.
There are now a total of 17 stocks on our watch lists.
You can now start receiving my Technical SetUps WatchList each market morning through the BuyBreakOuts 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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Now You Can Request a Complimentary Copy of James’ Flagship Weekly Newsletter…
The Sunday Stock Report
James’ 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.
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.