Breakoutwatch Weekly Summary 12/08/18

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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 Likely to Test Support at 6830 (Neg. 15.8%)

The negative trend continues as technology stocks, led by Apple (-20%), contribute to the NASDAQ losing 4.9% week-on-week, the most of the major indexes. The sharp decline came despite an accumulation day on Thursday as it appeared the Fed may postpone a December rate increase. Gloom returned on Friday after a disappointing jobs report. Principal factors weighing on the markets are the uncertainty of trade negotiations with China (exacerbated by the arrest of  Huawei Technologies' CFO) and a flattening of the yield curve as the 2-yr and 3-yr Treasury yields closed higher than the 5-yr. In this climate, it is likely that we will see the NASDAQ test the next support level at 6830, a decline of 15.8% from the October high.
Unsurprisingly, there were few breakouts this week and gains by Friday's close were small to non-existent. I strongly suggest not opening any long positions until a solid reversal is established. as indicated by our trend indicators.

New Features this Week

No new features this week
Strategy Suggestions
Our latest strategy suggestions are here.
Breakouts Summary by Watchlist for Week Beginning 12/03/18
List Breakouts Avg. Gain
CWH 4 -0.67
SQZ 3 -2.35
DB 2 -1.59
Breakouts Detail for Week Beginning 12/03/18
Brkout Date Symbol Base Squeeze BrkoutOut Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2018-12-04 RH DB n 132.52 137.13 94 137.02 3.4% 12.09%
2018-12-03 NHI SQZ y 77.99 78.78 80 80.45 3.15% 3.27%
2018-12-03 ESL SQZ y 118.74 120.91 97 121.74 2.53% 2.75%
2018-12-04 MKTX CWH n 220.58 221.99 83 224.73 1.88% 2.04%
2018-12-04 ETR CWH y 87.85 88.98 82 88.46 0.69% 1.8%
2018-12-04 RCI CWH n 53.92 54.03 83 53.53 -0.72% 1.69%
2018-12-03 ALLE CWH n 92.89 93.1 81 88.67 -4.54% 1.52%
2018-12-03 PTC DB n 89.67 90.35 79 83.78 -6.57% 1.8%
2018-12-03 DCI SQZ y 56.05 56.68 87 48.92 -12.72% 2.25%
*RS Rank on day before breakout.
Top Rated Cup and Handle Stocks as of Friday December 07, 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 24388.9
-4.5% -1.34% Down
NASDAQ 6969.25
-4.93% 0.95% Down
S&P 500 2633.08
-4.6% -1.52% 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
-5.89 %
Dow Jones
-3.66 %
NASDAQ Composite
0.95 %
Best Performing Industry (by average technical score over each period)
1 Week 3 Weeks 13 Weeks 26 Weeks
Foreign Utilities
Foreign Utilities
Auto Parts Stores
Auto Parts Stores
Most Improved Industry (by change in technical rank2)
Pollution & Treatment Controls
Charts of each industry rank and performance over 12 months are available on the site


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