6:30 AM – MORNING MARKET UPDATE & WATCH LIST NOTE: Today’s watch list can be found here.Yesterday, the Dow Jones managed to make an intraday reversal to eke out a modest gain, but tech declined for a third straight session as the Nasdaq shed another -0.7%. This morning, U.S stock futures are considerably lower with the Dow’s down over -100 points. European markets opened higher following a mixed trading session in Asia. For earnings, we have AZZ (AZZ) and Helen of Troy (HELE) announcing before the open. ____________________________________________________ Now You Can Start Receiving James’ –Technical SetUps WatchList Each Market Morning Early each market morning James diligently screens through hundreds of high EPS and RS ranked stocks that have solid fundamentals. He is looking for those select few which are setting up in sound technical bases and which looked poised to breakout that day. Each stock is listed with specific trading criteria such as a TRIGGER PRICE, TRIGGER VOLUME and MAX BUY PRICE. Normally $19.95 a month, now just $9 a month through James’ BuyingBreakOuts.com website. LEARN MORE ABOUT THIS SPECIAL 50% DISCOUNT OFFER HERE ____________________________________________________ The International Monetary Fund cut its economic growth forecasts for the United States and China as the countries clash over trade. I ran my routine stock screens early this morning, yet did not find any new stocks to add to our watch list. I removed SPSC, WWW, GIB, DECK, CLR and TSS as shares have now clearly broke down out of what was their current base. Each never confirmed a BUY signal. We now have 9 stocks which we will be watching for the next buyable breakout – see here. One stock in particular is TTEK which continues building a base near its 50-day moving average. Chart courtesy of stockcharts.com. Get access all watch lists with updated trading criteria including – TRIGGER PRICE, TRIGGER VOLUME, and MAX BUY PRICE for every stock here. Missed any of these morning reports? You can find all previous reports here. Standard rules apply – any gains above the stock’s TRIGGER PRICE while the day’s volume is at least on pace to make the TRIGGER VOLUME would have any of these set ups confirming a BUY signal up to their MAX BUY PRICE by default. Keep in mind that when a stock breaks out – becomes potentially buyable – there are other factors to consider. Volume on the breakout. A stock that is breaking out through resistance, with an increase in volume of +50% above the stock’s average volume (50 DAV), is showing more conviction and more demand. This is not saying – all lower volume breakouts will fail. Actually, we’ve seen many continue higher. If you have found that you did buy a stock that showed lower daily volume or volume under 50%, going forward – simply treat it a regular trade. Earnings BreakOuts. Many stocks from our watch list will break out during earnings season. Earnings breakouts can be more rewarding, however, these trades carry much more risk then traditional (non-news) breakouts. One needs to also consider – the strength/weakness of the fundamental news that was just released along with the forward-looking guidance the company gave, investors response to the conference call, etc. For anyone who is not familiar with – buying earnings breakouts – I suggest that they sit through a few seasons to study, paper trade, and show some profits, before applying actual capital. 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.