July 9, 2024 - The RightLine Report 

 
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                      NOTES FROM THE EDITOR
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Take Control of Your Trading

If you're like most traders you place a lot of attention on improving your trading knowledge and skills. However, on one significant level your ability to gain control of your trading has nothing to do with what you know about the market or how well you can execute trades. It has more to do with your emotional state at the moment you make a decision to take action. It is on this deeper inner level you will discover the parts of you that control all of your behaviors - the actions that cause either success or failure.

Your emotional states are determined by your basic beliefs, attitudes, and values. These vital parts of your self exist on a subconscious level. This subconscious area of your mind is extremely important, for it produces the guiding principles that direct the decisions you make and the actions you take.

In addition to providing a great income, trading is an excellent way to learn more about your inner workings - about what makes do what you do. As you see your beliefs and attitudes more clearly, you can use this new information to adjust your beliefs and attitudes so they will accurately reflect your inner values.

When your beliefs and attitudes become more aligned with your values, the actions you take will consistently move you toward understanding what matters the most in your trading and in your life. This awareness will help produce new principles within your subconscious that will guide you along your way to even more successful thinking and action.

The Belief-Attitude-Value process quickly increases your sense of control when trading. It also enhances your ability to take actions that produce desired results both in terms of money and emotional satisfaction.

Bottom Line: Getting to know your beliefs, attitudes and values will help you locate any conflicts within the group. To eliminate conflict, upgrade your beliefs and attitudes so they are compatible with your most important values. This isn't always easy. It takes introspection, patience and commitment.

Traders typically find that following this path means putting spiritual values ahead of monetary values. After all, trading is just a way to make money, and having money is only worth the effort when your beliefs and attitudes are properly aligned with your deepest values.

Trade well!

- Thomas Sutton, Editor 

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                           "QUICK LIST"
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Stock     07/09     07/09      Buy      Short   Trailing Stops     Gain 
Symbol    Price      +/-      Entry     Entry   Initial/Tighten   Amount 
------  --------  --------  --------  --------  ---------------  --------

RGS       21.53     -0.43      22.8     20.47        2.33/1.17      0.88
CTNM      20.63     -0.26     21.28                  1.54/0.77       3.4
DNTH      28.61      0.38      29.3     27.29        2.01/1.01      3.78
EML       26.04     -0.62     27.23     25.25        1.98/0.99      1.92
NNE       26.50     -3.30     29.58     25.22        4.36/2.18       4.2


The "Quick List" provides a brief summary of each stock write-up and should be taken in the context of the related write-up presented in the "Stocks Covered in This Issue" section of this Report.

Be sure to read "How To Use The RightLine Quick List" at https://prorightline.com/index.php/rightline-report-quick-list/. In addition,always use the RightLine Risk Calculator before entering any position. For access to the Risk Calculator, go to https://prorightline.com/index.php/risk-calculator/.

To learn more about controlling risk go to the RightLine Risk Control System at https://prorightline.com/index.php/rightline-risk-control-system/

For a glossary of terms unique to The RightLine Report go to: https://prorightline.com/index.php/glossary/

Questions? Send us an email using our contact form at: https://prorightline.com/index.php/contact-us/ 
 
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                           MARKET SUMMARY
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Stocks closed nearly unchanged on Tuesday, with the S&P 500 and Nasdaq posting modest gains, while the Dow recorded a slight decline. Financials and health care led the sectors in the S&P 500, while materials and energy lagged behind.

In Asia, markets mostly rose overnight, with Japan's Nikkei surging nearly 2% to another all-time high. Meanwhile, the NFIB Small Business Index marked its highest reading of the year but remaining below the 30-year average for the 30th consecutive month, indicating cautious small-business optimism.

Fed Chair Jerome Powell testified before the Senate Banking Committee, reiterating that the Fed requires more favorable inflation data before considering rate cuts. Bond yields saw a modest increase, with the 10-year Treasury yield edging up 0.02 percentage points to 4.29%.

Market focus remains on inflation's impact on monetary policy this week, with Thursday's release of the consumer price index (CPI) for June. Expectations are for a 0.1% monthly increase in headline CPI and a year-over-year rise of 3.1%, while core CPI is forecasted to rise 0.2% month-over-month and remain steady at 3.4% year-over-year. Following a volatile start to the year with higher-than-expected inflation, recent months have shown a downward trend, with May's core CPI at its lowest since April 2021.

With inflation moderating and recent labor market data suggesting easing conditions, markets are now pricing in two Fed rate cuts in 2024, with the first expected in September. However, this expectation is reasonable but uncertain, pending further inflation moderation in the coming months.


                       Jul 8, 2024            Jul 9, 2024    
                  --------------------   --------------------
Dow                 39,344.79   -31.08     39,291.97   -52.82
Nasdaq              18,403.74    50.98     18,429.29    25.55
S&P 500              5,572.85     5.66      5,576.98     4.13

NYSE Volume                      3.19B                  3.24B
NYSE Advancers                   1,502                  1,033
NYSE Decliners                   1,300                  1,754

Nasdaq Volume                     5.3B                  4.85B
Nasdaq Advancers                 2,348                  1,850
Nasdaq Decliners                 1,835                  2,330

                                 New Highs/Lows

                   07/02  07/03  07/04  07/05  07/08  07/09
                 --------------------------------------------
NYSE New Highs        65    109      0    124    108     91
NYSE New Lows         64     22      0     58     38     83
Nasdaq New Highs      63    119      0    153    183    149
Nasdaq New Lows      210    114      0    165    123    155

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                              TRADER'S TIP:  
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TRADER'S TIP: "No Retro-Trading Allowed"

No one sells at the "top" all of the time, so don't fret over selling a stock that goes up even higher after you get out. Trust your planned exit strategy and never punish yourself for selling "too early." There's always another trade around the corner. 
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                         THE TECHNICAL ANALYST
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This section contains important technical data for the three major market averages -- the S&P 500, the Nasdaq Comp Index, and the Dow Industrial Average.

For guidance on how to use this information, go to: https://prorightline.com/index.php/technical-analyst-section-rightline-report/ 
https://www.prorightline.com/rlch/070924SPX.jpg





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                             MARKET CALENDAR
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--ECONOMIC REPORTS AND EVENTS (all times are Eastern): 
MONDAY, JULY 8					
3:00 pm	Consumer credit	

TUESDAY, JULY 9					
6:00 am	NFIB optimism index	

WEDNESDAY, JULY 10					
10:00 am	Wholesale inventories	

THURSDAY, JULY 11					
8:30 am	Initial jobless claims			
8:30 am	Consumer price index	
8:30 am	CPI year over year		
8:30 am	Core CPI	
8:30 am	Core CPI year over year				
1:00 pm	St. Louis Fed President Alberto Musalem speaks				
2:00 pm	Monthly U.S. federal budget	
			
FRIDAY, JULY 12					
8:30 am	Producer price index	
8:30 am	PPI year over year	
8:30 am	Core PPI	
8:30 am	Core PPI year over year				
10:00 am	Consumer sentiment (prelim)

For a chart of typical Up or Down market reactions to specific major US economic reports, go to "Economic Indicator Effects" at this link: https://prorightline.com/index.php/economic-indicator-effects/ 
 
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                              TRADER'S TIP: 
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TRADER'S TIP: "Entry Points"

Readers often ask, "How long is a Quick List stock entry point considered valid?" The short answer - it is valid for two weeks after we introduce it in the RightLine Report. Also, if the stock gaps through the entry level overnight, always use the Gap-Open tactic to set a new entry point. This new, gap-adjusted entry is valid for the same two-week period.

For more on Gap Adjusted Entries, click on the following link: http://www.rightline.net/education/gap-adjusted.html. 

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                      STOCKS COVERED IN THIS ISSUE    
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CONSUMER CYCLICAL SECTOR

Regis Corporation (RGS: Consumer Cyclical/Personal Services) - SQUEEZE PLAY. A look at RGS's daily chart shows what a price squeeze is all about. The constricted high-low daily trading range has produced a setup similar to a tightly coiled spring. Expect price to move sharply soon, with the direction yet to be determined. Let the upcoming market action resolve whether you will buy shares or sell short. To capture a move either way, place a BUY trigger at 22.8 and a SELL short trigger at 20.47. Once RGS shows which way it's headed, place your triggered entry order. As soon as your order is filled, follow with a trailing stop of 2.33 and tighten to 1.17 on a 0.88 gain. RGS closed Tuesday at 21.53. Earnings Report Date: Aug 21, 2024. Beta: 2.50. Market-Cap: 49.087M. Optionable.

HEALTHCARE SECTOR

Contineum Therapeutics, Inc. (CTNM: Healthcare/Biotechnology) - BULLISH BOUNCE. CTNM has charted an upward weekly trend until recently when sellers showed up to push prices lower. On Tuesday the selling ran into solid support. A potential bounce up from this level should attract buyers and likely return CTNM to the previously established uptrend. The Bullish Bounce set-up is the basis for our BUY entry, so be ready to go long on a rise to our trigger at 21.28. Set a trailing stop of 1.54, tightening to 0.77 on a 3.4 profit. CTNM closed at 20.63 on Tuesday. Earnings Report Date: N/A. Beta: --. Market-Cap: 530.672M. Optionable.

Dianthus Therapeutics, Inc. (DNTH: Healthcare/Biotechnology) - SQUEEZE PLAY. When a stock's daily price range contracts to an unusually low point, you can safely assume that in most cases a breakout from that range will result in a nice price move. To capture a portion of this potential movement we have set both a long and a short entry into DNTH. A move to the upside will trigger our BUY entry at 29.3, while a drop to 27.29 will trigger our SELL short entry. Follow your position with a 2.01 trailing stop. Tighten the stop to 1.01 once you have a 3.78 gain. DNTH closed Tuesday at 28.61. Earnings Report Date: Aug 1, 2024. Beta: --. Market-Cap: 839.689M. Optionable.

INDUSTRIALS SECTOR

The Eastern Company (EML: Industrials/Tools & Accessories) - SQUEEZE PLAY. Tuesday's trading action forced EML's daily price range into an abnormally narrow state. This translates into opportunity; for the cyclical nature of price volatility is to shrink extensively, then swell rapidly as shares move in one direction or another. Instead of trying to predict the direction EML will take when price volatility begins to increase, we'll set both a BUY (long) and a SELL (short) trigger to get us into the right trade. Be ready to BUY shares at 27.23 if EML moves higher, and place your order to SELL short at 25.25 if price declines to that level. As usual follow your entry with a trailing stop, 1.98 should be sufficient. Reduce your stop to 0.99 on a 1.92 gain. EML closed Tuesday at 26.04. Earnings Report Date: Aug 6, 2024. Beta: 1.03. Market-Cap: 162.321M. Optionable.

NANO Nuclear Energy Inc. (NNE: Industrials/Specialty Industrial Machinery) - SQUEEZE PLAY. NNE is caught in a dilemma. The stock's compressed price range on Tuesday has resulted in a condition comparable to a wound up rubber band. We anticipate that this undecided equity will take off soon, but with the direction still in question we'll let upcoming market action tell us whether to buy shares or sell short. NNE is now at 26.50. We can capture price action either way by placing a BUY trigger at 29.58 and a SELL short trigger at 25.22. Once NNE reveals its direction, enter your triggered order and disregard the other one. As soon as your position is in place, follow up with a trailing stop of 4.36. When you acquire a 4.2 profit, tighten the stop to 2.18. Earnings Report Date: N/A. Beta: --. Market-Cap: 767.278M. Optionable.


IMPORTANT: Before entering any recommended positions, always use the RightLine "Risk Control System" to determine the level of acceptable risk and the maximum number of shares to buy.
Link: https://prorightline.com/index.php/rightline-risk-control-system/

Use "Gap Adjusted Entries" to reset the Entry Price for stocks that gap beyond recommended entry levels.
Link: https://prorightline.com/index.php/gap-adjusted-entries-increase-profits/ 

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                           STOCK SPLIT SUMMARY
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Below are the stocks that have announced splits and have recently executed or will execute soon. There is generally a return to normal price behavior in the weeks following a split announcement in what we call a "Dormancy Phase." As the stock nears its split execution date it often moves into the "Pre-Split Run" stage where quick and sometimes dramatic gains can occur. 
                             Announce     Eff.       Split
Company Name     (Symbol)      Date       Date       Ratio   Options  
---------------- -------     --------    -------     ------  -------   

NOTE: The number of stock split announcments goes up during Bull markets, 
and goes down during Bear market cycles. There are currently no upcoming 
stock splits that meet RightLine's proprietary criteria for split ratio, 
trading volume and price action.

For a closer look at the different stages of a Stock Split go to: https://prorightline.com/index.php/trading-stock-splits-stages/ 
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Best of luck and have a Great Week!
 
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