|Weekly Newsletter 04/28/13
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Our trend signals for the NASDAQ Composite and S&P 500 turned positive this week. The DJI trend remains negative. This index is less volatile than the others and the trend signals are always slower to reverse. The NASDAQ saw a positive uptick in volume with the level being at or over the 50 day average for the entire week. This is a welcome reversal of the declining volume we have seen since March and indicates that fears of a correction are abating. It also contributed to our model indicating a change in trend as volume action is a component of the model. A small cloud blocked the sunshine on Friday and raises the slight possibility of a bearish head and shoulders top forming. More likely is that the index will move higher to test resistance at 3307.
There were twelve breakouts this week with an average gain to their intraday high of 6.58%. This exceptionally high average was generated by two stocks that broke out to make exceptional gains within a single week.
Sucampo Pharmaceuticals, Inc. (SCMP) broke out from a cup-with-handle base on Tuesday and closed the week with a gain of 37% after hitting an intraday high 42% above its breakout price.
On Thursday, Pizza Inn, Inc. (PZZI) broke out from a High Tight Flag base and closed Friday 27% above its breakout price.
|New Features this Week
|Additional Value that we added this week
No new features this week
|This Week's Top Tip
|Tips for getting the most out of our site
No tip this week. As I was preparing to do an update on what is working now that the market has turned up again I found a bug in the backtest database. I need to spend time fixing that so I have taken the CwH backtest off-line temporarily. I hope to have it back on-line on Tuesday and apologize for any inconvenience.
|Overview of market direction and industry rotation
|Weekly Breakout Report
|How confirmed breakouts performed this week
2This represents the return if each stock were bought at its breakout price and sold at its intraday high.
3This represents the return if each stock were bought at its breakout price and sold at the most recent close.
|Top Breakout Choices
|Stocks on our Cup-and-Handle list with best expected gain if they breakout
|Top Second Chances
|Stocks that broke out this week and are still in buyable range
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