Breakoutwatch Weekly Summary 10/20/18

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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 Falls after an Early "Follow Through Day"

The NASDAQ closed the week 0.6% below last Friday's close, held back by weakness in the tech sector compared to financials and health-care that allowed a modest rise in the DJI (0.4%). The S&P 500 was flat.

Last week I cautioned that last Friday's bullish Hammer Doji needed a higher close on Monday of this week to be confirmed as a true reversal signal. That didn't happen but Tuesday produced a gap up and a 1% higher close than the previous day. This could be considered an early "follow through day" (day 3 rather than day 4). Wednesday started well with a higher open but release of the FOMC minutes in the afternoon caused a reassessment and the bears dominated the market through to Friday's close, which was below the 200 day moving average. The FOMC minutes confirmed that the Fed would continue to gradually raise rates which is potentially bearish for stocks.

Attempted breakouts mostly failed this week. Our Trend Indicators for the major indexes remain bearish so the prospects for positive breakouts remains bleak.


New Features this Week

No new features this week
Strategy Suggestions
Our latest strategy suggestions are here.
Breakouts Summary by Watchlist for Week Beginning 10/15/18
List Breakouts Avg. Gain
CWH 4 -0.89
SQZ 1 3.7
Breakouts Detail for Week Beginning 10/15/18
Brkout Date Symbol Base Squeeze BrkoutOut Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2018-10-19 EHTH SQZ y 29.45 30.54 94 30.54 3.7% 2.78%
2018-10-19 RDNT CWH n 15.31 15.29 82 15.29 -0.13% -0.59%
2018-10-19 EPM CWH n 11.16 11.12 92 11.12 -0.36% -0.63%
2018-10-19 HCKT CWH n 20.11 19.86 88 19.86 -1.24% -1.69%
2018-10-19 NDLS CWH n 12.55 12.32 96 12.32 -1.83% -2.95%
*RS Rank on day before breakout.
Top Rated Cup and Handle Stocks as of Friday October 19, 2018
Symbol BO
Company Industry RS
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 25444.3
0.41% 2.93% Down
NASDAQ 7449.03
-0.64% 7.9% Down
S&P 500 2767.78
0.02% 3.52% Down
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 Dow Jones
-4.75 %
NASDAQ Composite
4.24 %
NASDAQ Composite
7.9 %
Best Performing Industry (by average technical score over each period)
1 Week 3 Weeks 13 Weeks 26 Weeks
Foreign Utilities
Auto Parts Stores
Auto Parts Stores
Auto Parts Stores
Most Improved Industry (by change in technical rank2)
Advertising Agencies
Foreign Utilities
Tobacco Products - Other
REIT - Healthcare Facilities
Charts of each industry rank and performance over 12 months are available on the site


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