Breakoutwatch Weekly Summary 09/15/18
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.
| DISCA Breakout Epitomizes Desirable
Cup and Handle Pattern Behavior The NASDAQ shrugged off last weeks losses and moved ahead with a 1.4% gain, the highest of the three major indexes. The index has gained 16.4% year-to-date and given the strong economic climate despite trade uncertainty, looks likely to continue the upward trend. Both the CPI and PPI numbers released this week showed inflation is in check and the Fed is determined that it remain so. They are almost certain to raise interest rates a further 1/4% at the September 24-25 FOMC meeting.  The week delivered 11 breakouts
with DISCA providing the best return of 10.9% by Friday's
close. A study of the DISCA chart shows classic behavior in
the handle after the pivot was set. As some profit
taking caused the price to fall, so did volume levels until
buyers stepped in and volume levels rose culminating in a
strong breakout on more than twice the average daily volume.
The desirable behavior in the handle, and indeed throughout the pattern's formation is described in Anatomy of a Cup and Handle Pattern  |
| No new features this week. |
|
Our latest strategy
suggestions are here.
|
| List | Breakouts | Avg. Gain |
|---|---|---|
| CWH | 8 | 2.9 |
| SQZ | 3 | 3.98 |
| HTF | 0 | |
| HSB | 0 | |
| DB | 0 |
| Brkout Date | Symbol | Base | Squeeze | BrkoutOut Price | Brkout Day Close | RS Rank* | Last Close | Current % off BOP | Gain at Intraday High |
|---|---|---|---|---|---|---|---|---|---|
| 2018-09-12 | DISCA | CWH | n | 29.02 | 30.7 | 87 | 32.18 | 10.89% | 9.44% |
| 2018-09-10 | GFN | SQZ | y | 14.16 | 14.65 | 97 | 15.4 | 8.76% | 7.7% |
| 2018-09-10 | NMIH | CWH | n | 22.15 | 23.25 | 90 | 23.3 | 5.19% | 4.38% |
| 2018-09-11 | CEO | CWH | n | 175.78 | 181.39 | 82 | 184.62 | 5.03% | 5.34% |
| 2018-09-11 | GTXI | CWH | n | 23.17 | 24.8 | 95 | 24.12 | 4.1% | 5.52% |
| 2018-09-14 | TDG | SQZ | y | 358.37 | 369.99 | 84 | 369.99 | 3.24% | 0.11% |
| 2018-09-11 | SONC | CWH | n | 35.89 | 38.55 | 89 | 36.78 | 2.48% | 3.73% |
| 2018-09-13 | MEOH | CWH | n | 74.55 | 75.45 | 85 | 76 | 1.95% | 0.67% |
| 2018-09-13 | REIS | CWH | n | 23.00 | 23.1 | 80 | 23.15 | 0.65% | 0.43% |
| 2018-09-13 | ALDR | SQZ | y | 18.21 | 18.6 | 92 | 18.2 | -0.05% | -0.88% |
| 2018-09-11 | ICUI | CWH | n | 304.50 | 306.4 | 86 | 282.85 | -7.11% | -1.92% |
| *RS Rank on day before breakout. | |||||||||
| Symbol | BO Price |
BO Vol. |
Company | Industry | RS Rank |
Last Close |
|---|---|---|---|---|---|---|
| BXC | 41.32 | 324,126 | Bluelinx Holdings Inc. Common Stock | Building Materials Wholesale | 98 | 38.80 |
| 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 | 26154.7 |
0.92% | 5.81% | Up |
| NASDAQ | 8010.04 |
1.36% | 16.03% | Up |
| S&P 500 | 2904.98 |
1.16% | 8.65% | 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 |
|---|---|---|---|
| NASDAQ Composite |
S&P 500 3.4 % |
NASDAQ Composite 7.06 % |
NASDAQ Composite 16.03 % |
| 1 Week | 3 Weeks | 13 Weeks | 26 Weeks |
|---|---|---|---|
| Basic Materials Wholesale |
Internet Service Providers |
Auto Parts Stores |
Home Health Care |
| Auto Parts Wholesale 116 |
Cleaning Products 97 |
Toy & Hobby Stores 189 |
REIT - Healthcare Facilities 189 |
| Charts of each industry rank and performance over 12 months are available on the site | |||
If you received this newsletter from a friend and you would like to receive it regularly please go to the BreakoutWatch.com site and you will then be able to register to receive the newsletter.
Copyright (c) 09/15/2018 NBIcharts, LLC dba BreakoutWatch.com. All
rights reserved.
" BreakoutWatch," the BreakoutWatch.com "eye" logo, and the slogan
"tomorrow's breakouts today" are service marks of NBIcharts LLC. All
other marks are the property of their respective owners, and are used
for descriptive purposes only.
BreakoutWatch is not affiliated with Investor's Business Daily or with Mr. William O'Neil. Our site, research and analysis is supported entirely by subscription and is free from advertising.