Breakoutwatch Weekly Summary 12/15/18
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.
| New Features this Week
| Top Cup and Handle Chart Pattern Stocks
| Best Performing Index
Best Performing Industry
Most Improved Industry
|Possible Head and Shoulders Bottom
for the NASDAQ
The markets suffered another volatile week roiled by uncertainty around economic growth, trade, politics, and the future of interest rates. The NASDAQ lost 0,8%, but fared better than the S&P 500 (-1.2%) and the DJI (-1.3%). In fact the NASDAQ is the only index to be positive for the year, by just 0.1%!
Those traders looking for a bottom may find hope in the possibility that the NASDAQ may have formed a head and shoulders bottom, which could be bullish, as shown on the chart. Although the index closed down for the last two days trading for the week, it did so on volumes well below average indicating selling volume may be becoming exhausted. The head and shoulders pattern will only be confirmed, however, when the index rises above the neckline, currently 500 points above Friday's close. This seems a big ask in the current economic and political climate. For an explanation of the Head and Shoulder Bottom pattern go here.
No new features this week
Our latest strategy suggestions are here.
|Brkout Date||Symbol||Base||Squeeze||Brkout Price||Brkout Day Close||RS Rank*||Last Close||Current % off BOP||Gain at Intraday High|
|*RS Rank on day before breakout.|
|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|
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|
|1 Week||3 Weeks||13 Weeks||26 Weeks|
||Auto Parts Stores
||Auto Parts Stores
|Security & Protection Services
|Charts of each industry rank and performance over 12 months are available on the site|
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