Breakoutwatch Weekly Summary 03/23/19

You are receiving this email because you are or were a 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
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 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.


New Features this Week

No new features this week
Strategy Suggestions
Our latest strategy suggestions are here.
Breakouts Summary by Watchlist for Week Beginning 03/18/19
List Breakouts Avg. Gain
CWH 7 0.12
SQZ 7 0.9
Breakouts Detail for Week Beginning 03/18/19
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2019-03-18 LMRK SQZ y 14.98 15.29 80 16.18 8.01% 9.95%
2019-03-19 LMRK SQZ y 15.30 15.62 83 16.18 5.75% 7.65%
2019-03-21 SPNS CWH n 14.74 15.35 93 15.25 3.46% 9.23%
2019-03-18 TNAV CWH n 6.15 6.37 91 6.36 3.41% 13.82%
2019-03-20 BMS CWH y 53.64 53.65 85 54.34 1.3% 2.2%
2019-03-18 HMLP SQZ y 18.73 19.13 82 18.92 1.01% 3.47%
2019-03-18 DMRC CWH n 31.70 31.82 92 31.95 0.79% 9.78%
2019-03-18 LBRDK SQZ y 92.40 93.03 82 92.81 0.44% 2.42%
2019-03-19 TNAV SQZ y 6.38 6.65 92 6.36 -0.31% 9.72%
2019-03-21 ANET CWH n 304.97 315.02 87 300.16 -1.58% 3.84%
2019-03-19 CVA SQZ y 17.29 17.3 82 16.82 -2.72% 1.04%
2019-03-18 ESNT CWH y 45.06 46.63 85 43.83 -2.73% 6.39%
2019-03-20 BOOM CWH n 49.90 50.11 93 48.01 -3.79% 4.29%
2019-03-19 BV SQZ y 15.08 15.75 90 14.19 -5.9% 5.24%
*RS Rank on day before breakout.
Top Rated Cup and Handle Stocks as of Friday March 22, 2019
Symbol BO
Company Industry RS
No stocks met 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 25502.3
-2.03% 9.32% Up
NASDAQ 7642.67
1.53% 15.18% Up
S&P 500 2800.71
0.29% 11.72% Up
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 NASDAQ Composite
20.68 %
NASDAQ Composite
-4.31 %
NASDAQ Composite
15.18 %
Best Performing Industry (by average technical score over each period)
1 Week 3 Weeks 13 Weeks 26 Weeks
Foreign Utilities
Foreign Utilities
Foreign Utilities
Auto Parts Stores
Most Improved Industry (by change in technical rank2)
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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