Breakoutwatch Weekly Summary 06/02/18
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| New Features this Week
| Top Cup and Handle Chart Pattern Stocks
| Best Performing Index
Best Performing Industry
Most Improved Industry
|A Solid Employment Report Lifts
Markets after a Turbulant Week
A frenetic week of economic and and political events which produced two distribution days was rescued on Friday by an easing of the Italian and Spanish political tensions, news that the June 12 summit with North Korea is back on, and the release of the employment report for May, which featured a better-than-expected increase in non-farm payrolls and a lower employment rate than was expected. Wage growth rates were sufficiently moderate to constrain inflation fears. The result was a gap-up at Friday's open by the NASDAQ and a gain for the week of 1.6%, while the DJI lost 0.5% and the S&P 500 gained 0.5%.
Although the NASDAQ closed higher on Monday, Wednesday and Friday, volumes were below average which limited the number of breakouts to 8 from a cup and handle pattern and 2 from a volatility squeeze.
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.|
|OMEX||9.00||238,684||Odyssey Marine Exploration - Inc. - Common Stock||Business Services||98||8.98|
|MAR||138.96||2,608,512||Marriott International - Class A Common Stock||Lodging||97||138.34|
|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|
||Publishing - Books
|Toy & Hobby Stores
|Tobacco Products - Other
|Charts of each industry rank and performance over 12 months are available on the site|
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