Breakoutwatch Weekly Summary 05/18/18
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|Doji Patterns and Falling Volume
Imply Market Direction Uncertainty
The major indexes retreated this week in the face of stalled trade negotiations with China and NAFTA, and a continued rise in Treasury yields which hit 3.11% on Wednesday before slipping back to 3.07% on Friday. These more attractive yields likely pulled some money out of stocks, especially as the risk of trade wars and potential damage to the economy continued.
The NASDAQ Composite has been in retreat since Monday and gave up 0.7% for the week. Falling volume on Thursday and Friday and two doji patterns indicate uncertainty about the direction the market will take. Our market trend indicators for the NASDAQ and other major indicators remain positive.
No new features this week
Our latest strategy suggestions are here.
|Brkout Date||Symbol||Base||Squeeze||BrkoutOut Price||Brkout Day Close||RS Rank*||Last Close||Current % off BOP||Gain at Intraday High|
|*RS Rank on day before breakout.|
|MAR||138.96||2,663,498||Marriott International - Class A Common Stock||Lodging||97||138.52|
|COOL||27.80||319,266||PolarityTE - Inc. - Common Stock||Multimedia & Graphics Software||94||26.96|
|These stocks meet our suggested screening factors
for our Cup and Handle Chart Pattern watchlist.
See Revised Rules for Trading Cup and Handle Breakouts
|Index||Value||Change Week||Change YTD||Trend1|
1The Market Trend is derived from our proprietary market model. The market model is described on the site here.
2The site also shows industry rankings based on fundamentals, combined technical and fundamentals, and on price alone. The site also shows daily industry movements.
|1 Week||13 Weeks||26 Weeks||Year-to-Date|
|1 Week||3 Weeks||13 Weeks||26 Weeks|
||Home Health Care
||Resorts & Casinos
|Long Distance Carriers
|Sporting Goods Stores
|Charts of each industry rank and performance over 12 months are available on the site|
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