Breakoutwatch Weekly Summary 03/23/19
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| New Features this Week
| Top Cup and Handle Chart Pattern Stocks
| Best Performing Index
Best Performing Industry
Most Improved Industry
|NASDAQ Retreats as US and World
Economies Show Weakness
Initial optimism that the decision by the Federal Reserve to make no further interest rate increases this year would allow the bull market to continue was brought into doubt when the yield curve inverted on Thursday. The Fed announcement already implied that the economy was weakening and could not withstand further rate increases. This concern was reinforced when the yield curve inversion signaled that a recession may lie ahead. Overall the NASDAQ gained 1.5% for the week but this could have been considerably higher had the index not given up 2.5% on Friday. It should be noted that although this was a significant loss, it came on volume significantly below the 50 day average and so the strength of this reversal remains to be seen.
The number of breakouts fell to 14 from 25 last week and gains were significantly constrained by Friday's retreat.
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.|
|No stocks met 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
|Semiconductor - Memory Chips
|Multimedia & Graphics Software
|Music & Video Stores
|Music & Video Stores
|Charts of each industry rank and performance over 12 months are available on the site|
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