7:00 AM – MORNING MARKET UPDATE & WATCH LIST
Yesterday, the Dow closed down -0.1%, while the S&P 500 ended -0.3%. The Nasdaq Composite lost -0.2%.
QUOTE OF THE DAY:
“Show class, have pride, and display character. If you do, winning takes care of itself.”
– Bear Bryant
The Federal Reserve will announce its decision on interest rates at 2 p.m. ET, followed by a press conference with Chairman Jerome Powell.
It’s widely expected that the Fed will cut interest rates by a quarter percentage point. This first cut in more than a decade. Attention will then shift to what Powell has to say about the path forward.
This morning, U.S. stock futures point higher ahead of news from the Fed.
The Dow is set to rise about 70 points, or +0.3%, when markets open. The S&P 500 is poised to increase +0.2%, while the Nasdaq is tracking up +0.4%.
European markets, meanwhile, are more of a mix. Britain’s FTSE 100 fell -0.3% in early trading, while Germany’s DAX gained +0.1%.
Stocks in Asia fell on concerns about trade as negotiations between Washington and Beijing continue. U.S. and Chinese trade representatives are meeting in Shanghai starting today, though the market doesn’t have high hopes for the outcome. President Donald Trump tweeted earlier that China was doing “very badly” and wasn’t buying the US agricultural products it promised to buy. Hong Kong’s Hang Seng dropped -1.3% and Japan’s Nikkei shed -0.9%.
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. This morning, I added 1 new stock to our watch list.
There are now a total of 7 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.
Now You Can Request a
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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.
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.
REQUEST YOUR COMPLIMENTARY COPY 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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