– 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.


7:00 AM – MORNING MARKET UPDATE & WATCH LIST

SEE ALL MY CURRENT WATCH LISTS HERE: James’ Stock WatchLists

Last week was the first full week of February trading, and U.S China trade tensions and global growth worries continued to weigh on the markets.


QUOTE OF THE DAY:

“Happiness adds and multiplies, as we divide it with others.”

– A. Nielsen


The major indexes tested key levels of support and also ran into resistance this past week.

In the end, the benchmarks managed to post weekly gains, following some late-Friday buying.

The Dow Jones Industrial Average notched a seventh weekly gain in a row.

The index recently broke above, and is now basically holding above, support of the 200-day moving average and the psychologically-25000.

Chart courtesy of stockcharts.com

For the week, the Nasdaq advanced just +0.5% as it was turned back from near-resistance of its 200-day moving average of 7,457.37,

Some support for this index is at the round-7000 and the coinciding 50-day moving average.

Chart courtesy of stockcharts.com

The S&P 500 index closed higher on Friday and avoided a three-day skid.

For the week, the index edged up just +0.1% and is now up +8% year to date.

The bellwether was sharply turned back from what is now resistance of its 200-day moving average, currently at 2742.

Support is at the round-2600 and the near coinciding 50-day moving average, previous lows, and a downward trendline.

Chart courtesy of stockcharts.com

We added a distribution day this week. The count remains low with now 2 on the S&P 500 and still just 1 on the Nasdaq.

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Looking for a Like-Minded Professional Who Manages Money ?
   – James F. Taulman

One question that I am regularly asked is – “Can you recommend a professional who manages money using the same methodology which your services are based upon?”

Over the years, there has been just a handful of these professionals who have stood out from the rest, and who I would highly recommend to anyone who is looking for professional guidance.

One of them is Jack Elvestrom and here’s why… 

CONTINUED HERE

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Currently, the market continues in a confirmed uptrend. Major averages should be monitored for any continued distribution days. Both stocks and indexes should be watched closely if any near their respective support levels.

Regardless of market conditions, I am always preparing a watch list of high-ranked leaders which are building bullish technical bases.

This weekend, I ran my routine stock screens and found 4 TrendLine SetUps to add to our watch list.

SEE ALL MY CURRENT WATCH LISTS HERE:  James’ Stock WatchLists

Missed any of these morning reports? You can find all previous reports here.

As always, if anyone has any questions – please feel free to email me at james@jamestaulman.com as I would be glad to assist you. _________________________________________________

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. _________________________________________________ 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.