Breakoutwatch Weekly Summary 12/15/18

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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
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.


New Features this Week

No new features this week
Strategy Suggestions
Our latest strategy suggestions are here.
Breakouts Summary by Watchlist for Week Beginning 12/10/18
List Breakouts Avg. Gain
CWH 2 3.03
SQZ 6 1.59
Breakouts Detail for Week Beginning 12/10/18
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2018-12-11 MITK SQZ y 9.76 10.16 93 10.41 6.66% 10.14%
2018-12-14 SCG CWH n 48.93 50.98 95 50.98 4.19% 4.78%
2018-12-10 OTTR CWH y 49.74 49.98 84 50.67 1.87% 4.3%
2018-12-14 CEQP SQZ y 31.81 32.3 80 32.3 1.54% 3.49%
2018-12-14 HEP SQZ y 30.18 30.62 81 30.62 1.46% 3.48%
2018-12-12 NHTC SQZ y 22.57 23.07 89 22.83 1.15% 3.19%
2018-12-14 PLAB SQZ y 10.03 10.1 87 10.1 0.7% 1.99%
2018-12-11 EFC SQZ y 15.60 15.69 84 15.29 -1.99% 1.54%
*RS Rank on day before breakout.
Top Rated Cup and Handle Stocks as of Friday December 14, 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 24100.5
-1.18% -2.5% Down
NASDAQ 6910.67
-0.84% 0.11% Down
S&P 500 2599.95
-1.26% -2.76% 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
NASDAQ Composite Dow Jones
-7.85 %
Dow Jones
-3.95 %
NASDAQ Composite
0.11 %
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)
Security & Protection Services
Computers Wholesale
Foreign Utilities
Charts of each industry rank and performance over 12 months are available on the site


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