Breakoutwatch Weekly Summary 07/21/18
You are receiving this email because you are or were a BreakoutWatch.com subscriber, or have subscribed to our weekly newsletter. This newsletter summarizes the breakout events of the week and provides additional guidance that does not fit into our daily format. It is published each weekend.
| NASDAQ Consolidation Begins as
Selling Volume Increases Last weeks prediction that the
NASDAQ could be ready for consolidation did not come true
immediately. The index did close with a small loss on Monday but
then went on to set another new high on Tuesday led by Amazon,
Alphabet, Microsoft and Charles Schwab. The momentum did not
carry through though, and the rest of the week brought small
losses as selling volume increased. Wednesday delivered a
distribution day and Thursday also saw a loss on above average
volume. Friday delivered another loss following end of session
selling across all three major indexes as investors reacted to
further threats from Trump of tariffs on $500 billion worth of
Chinese goods and further criticism of the Fed. The NASDAQ
closed with a small loss of 0.7% for the week.
The chart below shows average volumes have fallen since early July as investors depart on vacation. This is particularly true on Friday's as yesterday's volume shows. Consequently, breakouts on above average volume have diminished and this pattern will likely continue through August.  |
| No new features this week |
|
Our latest strategy
suggestions are here.
|
| List | Breakouts | Avg. Gain |
|---|---|---|
| CWH | 3 | 1.37 |
| SQZ | 2 | 5.92 |
| HTF | 0 | |
| HSB | 0 | |
| DB | 1 | 2.94 |
| Brkout Date | Symbol | Base | Squeeze | BrkoutOut Price | Brkout Day Close | RS Rank* | Last Close | Current % off BOP | Gain at Intraday High |
|---|---|---|---|---|---|---|---|---|---|
| 2018-07-16 | VFC | SQZ | y | 84.85 | 88.8 | 84 | 92.94 | 9.53% | 7.26% |
| 2018-07-20 | BMI | DB | n | 51.05 | 52.55 | 79 | 52.55 | 2.94% | -0.59% |
| 2018-07-17 | ZFGN | CWH | n | 10.35 | 10.56 | 97 | 10.65 | 2.9% | 2.22% |
| 2018-07-18 | SHOO | SQZ | y | 53.91 | 55.5 | 83 | 55.15 | 2.3% | 2.39% |
| 2018-07-20 | ECHO | CWH | n | 31.25 | 31.45 | 85 | 31.45 | 0.64% | -2.4% |
| 2018-07-19 | HCA | CWH | n | 107.38 | 107.7 | 81 | 108 | 0.58% | -0.32% |
| *RS Rank on day before breakout. | |||||||||
| Symbol | BO Price |
BO Vol. |
Company | Industry | RS Rank |
Last Close |
|---|---|---|---|---|---|---|
| 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 |
|---|---|---|---|---|
| Dow | 25058.1 |
0.15% | 1.37% | Up |
| NASDAQ | 7820.2 |
-0.07% | 13.28% | Up |
| S&P 500 | 2801.83 |
0.02% | 4.8% | Up |
|
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 |
|---|---|---|---|
| Dow Jones |
NASDAQ Composite 9.43 % |
NASDAQ Composite 6.59 % |
NASDAQ Composite 13.28 % |
| 1 Week | 3 Weeks | 13 Weeks | 26 Weeks |
|---|---|---|---|
| Manufactured Housing |
Manufactured Housing |
Manufactured Housing |
Home Health Care |
| Dairy Products 86 |
Dairy Products 101 |
Long Distance Carriers 170 |
Manufactured Housing 197 |
| Charts of each industry rank and performance over 12 months are available on the site | |||
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