– 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.
9:00 AM – MORNING MARKET UPDATE & WATCH LIST
[dropcap]T[/dropcap]his morning futures are clam after the major averages closed with considerable losses yesterday as talk of a possible presidential impeachment inquiry brewed.
QUOTE OF THE DAY:
“Guard against the impostures of pretended patriotism.”
– George Washington
Speaker of the House Nancy Pelosi did, in fact, announce that the House of Representatives will open a formal impeachment inquiry into President Donald Trump later that afternoon.
The Nasdaq took the brunt of the day’s losses. The tech-laden index sliced its 50-day moving average and closed down -1.46% to near support of the 8000 level.
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
The Dow and the S&P 500 remained above their respective 50-day moving averages. As I wrote in the week’s Sunday Stock Report – “Next week, it would be key to see the indices hold above those noted areas of support.”
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RELATED LINKS
IBD: If You Wait For Wall Street Analysts To Bail, It’s Too Late: Learn The Key Sell Signals
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BREAKOUT UPDATE:
Our only breakout so far this week.
| SYM | LAST | ADDED TO WATCH LIST | BREAK OUT PRICE | BREAK OUT DATE | MAX BUY PRICE | % GAIN/ LOSS |
| BEP | $38.76 | 9/19 | $38.04 | 9/23 | $39.94 | +1.89% |
Chart services courtesy of stockcharts.com. Annotations by James Taulman.
NOTE: This stock was on my Technical SetUps WatchList. You can now start receiving my Technical SetUps WatchList each market morning through the BuyingBreakOuts website for only $9 a month here.
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BuyingBreakOuts.com
“Morning High-Ranked Stock Watch List & Intra-Day BreakOut Alerts”
Start Receiving Our Free BreakOut Alerts
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WATCHLIST UPDATE:
Now matter the status of the market, we should always have a current watch list ready.
There are now 12 stocks that we will be watching for a traditional break out to new highs.
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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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.