Breakoutwatch Weekly Summary 09/08/18

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New Features this Week
Strategy Suggestions
Breakouts Summary
Breakouts Detail
Top Cup and Handle Chart Pattern Stocks
Breakouts Index
Best Performing Index
Best Performing Industry
Most Improved Industry

Weekly Commentary
NASDAQ Could Test Support Next Week After Heavy Selling Volume

As the week began, investors looked at the new highs set in the previous week and wondered how long this could continue. They looked at the NASDAQ with a particularly jaundiced aye and sold off the technology sector giving the index a loss of 2.6%. The DJI and S&P 500 gave up 0.2% and 1.0% respectively. The chart shows that volumes for the NASDAQ were above the 50 day average and it appears that support at the 50 day average will be tested next week. Despite the negative week, our trend indicators remain positive.

Friday's employment report showed wages are starting to increase which ignited fears that inflation could increase. It is virtually certain that there will be a further increase in the Fed funds rate this month.

The downtrend produced fewer breakouts this week. The best performer was VRA (Vera Bradley) which gapped up 9% above its breakout price on Wednesday following an earnings report that beat expectations. There was little in the stock chart to suggest a strong breakout was coming, and as the gap up exceeded the suggested 5% limit it was difficult to jump on to.


New Features this Week

No new features this week
Strategy Suggestions
Our latest strategy suggestions are here.
Breakouts Summary by Watchlist for Week Beginning 09/03/18
List Breakouts Avg. Gain
CWH 4 4.16
SQZ 1 3.55
DB 2 4.51
Breakouts Detail for Week Beginning 09/03/18
Brkout Date Symbol Base Squeeze BrkoutOut Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2018-09-05 VRA CWH n 14.89 16.4 92 16.77 12.63% 12.49%
2018-09-05 ULTA DB n 253.95 274.93 78 285.8 12.54% 8.82%
2018-09-07 EAT SQZ y 45.87 47.5 82 47.5 3.55% -0.92%
2018-09-03 HSKA DB n 102.87 47.5 78 105.02 2.09% 0.2%
2018-09-06 TIER CWH n 23.82 24.49 81 24.3 2.02% 1.68%
2018-09-07 FLDM CWH n 7.92 8.03 91 8.03 1.39% -4.17%
2018-09-07 PTC CWH n 98.31 98.9 90 98.9 0.6% -1.33%
*RS Rank on day before breakout.
Top Rated Cup and Handle Stocks as of Friday September 07, 2018
Symbol BO
Company Industry RS
FLOW 48.79 294,435 SPX FLOW - Inc. Common Stock Diversified Machinery 99 47.20
XPO 106.22 1,786,416 XPO Logistics - Inc. Air Delivery & Freight Services 98 106.18
These stocks meet our suggested screening factors for our Cup and Handle Chart Pattern watchlist.
See Revised Rules for Trading Cup and Handle Breakouts
Major Index Summary
Index Value Change Week Change YTD Trend1
Dow 25916.5
-0.19% 4.84% Up
NASDAQ 7902.54
-2.55% 14.47% Up
S&P 500 2871.68
-1.03% 7.41% 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.
Best Performing Index
1 Week 13 Weeks 26 Weeks Year-to-Date
Dow Jones NASDAQ Composite
3.36 %
NASDAQ Composite
4.52 %
NASDAQ Composite
14.47 %
Best Performing Industry (by average technical score over each period)
1 Week 3 Weeks 13 Weeks 26 Weeks
Internet Service Providers
Internet Service Providers
Auto Parts Stores
Home Health Care
Most Improved Industry (by change in technical rank2)
Gas Utilities
Manufactured Housing
Toy & Hobby Stores
REIT - Healthcare Facilities
Charts of each industry rank and performance over 12 months are available on the site


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