Breakoutwatch Weekly Summary 10/12/19

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Weekly Commentary
NASDAQ Bearish Double Top Continues

Although the NASDAQ made a modest gain this week of 0.9%, it remains below the Double Top support level and so the bearish double top pattern remains in place. Our trend indicator for the index, and indeed that of the S&P 500 and DJI, continues to be negative.

Trade issues continue to dominate market sentiment. At the beginning of the week 28 Chinese companies were put on a blacklist that blocks them from doing business with U.S. companies without a special license. This was followed by indications that trade talks were going well and the markets surged on Friday with the announcement of Stage one of a trade deal. Details were scant, however, and it seems possible that the markets were suckered again into believing progress is being made.


New Features this Week
The Industry Browser is available again in a new format. This is part of an ongoing effort to make the site more user friendly for smart phone users. I hope to make the revised site fully available shortly.
Strategy Suggestions
Our latest strategy suggestions are here.
Breakouts Summary by Watchlist for Week Beginning 10/07/19
List Breakouts Avg. Gain
CWH 1 1.69
SQZ 4 1.56
Breakouts Detail for Week Beginning 10/07/19
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2019-10-08 CHDN SQZ y 128.71 129.77 94 131.25 1.97% 2.93%
2019-10-10 RDVT SQZ y 13.66 13.7 98 13.9 1.76% 6.58%
2019-10-11 TSEM CWH n 20.74 21.09 89 21.09 1.69% 2.36%
2019-10-11 RDVT SQZ y 13.71 13.9 98 13.9 1.39% 5.32%
2019-10-09 CHDN SQZ y 129.78 130.08 95 131.25 1.13% 2.08%
*RS Rank on day before breakout.
Top Rated Cup and Handle Stocks as of Friday October 11, 2019
Symbol BO
Company Industry RS
ALDR 18.99 4,915,612 Alder BioPharmaceuticals - Inc. Biotechnology 98 18.87
AMKR 10.01 1,160,766 Amkor Technology - Inc. Semiconductor - Integrated Circuits 94 9.76
AKTS 8.77 674,316 Akoustis Technologies - Inc. Communication Equipment 94 8.00
CZR 12.03 16,626,627 Caesars Entertainment Corporation Resorts & Casinos 88 11.95
WSC 16.89 720,855 WillScot Corporation Rental & Leasing Services 87 15.80
PSDO 16.96 2,043,286 Presidio - Inc. Information Technology 87 16.76
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 26816.6
0.91% 14.96% Down
NASDAQ 8057.04
0.93% 21.43% Down
S&P 500 2970.27
0.62% 18.49% 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 S&P 500
-1.44 %
S&P 500
2.16 %
NASDAQ Composite
21.43 %
Best Performing Industry
1 Week 3 Weeks 13 Weeks 26 Weeks
Water Utilities
Electric Utilities
Auto Dealerships
Insurance Brokers
Most Improved Industry (by change in technical rank2)
Personal Services
Drug Delivery
Personal Computers
Drug Delivery
Charts of each industry rank and performance over 12 months are available on the site


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