7:30 AM – MORNING MARKET UPDATE & WATCH LIST
The Dow recorded its third day of losses in a row yesterday as the index closed -0.1%, or -23 points, lower. It was the only one of the three major averages to end the day in the red.
QUOTE OF THE DAY:
“There are but two things worth living for: to do what is worthy of being written; and to write what is worthy of being read.”
– Ross Perot
Both the S&P 500 and the Nasdaq started the day weaker but managed to eke out gains by the close. The S&P 500 closed +0.1% higher, while the Nasdaq finished up +0.5%. Both indexes snapped a two-day losing streak.
This morning, stock futures are pointing lower with the Dow set to fall 40 points, or -0.2%. The Nasdaq and S&P 500 are set for similar losses as investors anxiously wait to hear from Jerome Powell. The Federal Reserve Chairman is due to deliver his bi-annual congressional testimony on Wednesday and Thursday.
Around the globe, European markets opened mixed. Britain’s FTSE 100 rose +0.1%, while France’s CAC 40 and Germany’s DAX slipped.
Hong Kong’s Hang Seng rose +0.3%, but the Shanghai Composite and Japan’s Nikkei shed -0.2%.
We have had 1 new high-ranked breakout so far this week.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
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 did not add any new stocks to our watch lists this morning.
There are still a total of 11 stocks on our watch lists.
You can now start receiving my Technical SetUps WatchList each market morning through the BuyingBreakOuts 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.
James’ Flagship Weekly Newsletter.
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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.
NOTE: On SUNDAY THERE WERE A TOTAL OF 10 STOCKS on the watch list in the current issue. As of Wednesday morning, there are now 6 stocks as 4 have already broken out this week.
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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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