Breakoutwatch Weekly Summary 06/18/21

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Weekly Commentary
Markets Fear that Effects of Reopening May have Peaked

The week began well with the S&P 500 and NASDAQ setting new highs but a change in stance by the Fed re when an increase in interest rates is likely, took some life away from the party. The Fed now expects 2 interest rate increases by the end of 2023 whereas previous indications were that there would be no increases in 2023. The markets concluded that inflationary pressures are rising and that growth rates may have reached their peak.

There was an immediate negative effect on the NASDAQ as Fed Chairman Powell spoke on Wednesday, optimistic bulls were in control on Thursday but pragmatic realists took the index lower on Friday to close 0.3% down. When one considers that the NASDAQ has risen 44% since February 2020 one has to ask "How is that sustainable when the economy now is anemic compared to the full employment economy of February 2020?".

Take note that our market trend signal for the DJI turned negative on Thursday. I expect the other two will follow suite shortly.
NASDAQ Chart

Chart of the Week
Clean Energy Fuels set a pivot on June 9 on massive relative volume. Since then the swing traders have taken profits and now seem likely to want to buy back in. Friday's volume was again massive relative to the 50 day average although bulls and bears were in a tussle as the candlestick shows, with the bulls winning out.
CLNE Chart

New Features this Week

No new features this week
Strategy Suggestions
Our latest strategy suggestions are here.
Breakouts Summary by Watchlist for Week Beginning 06/14/21
List Breakouts Avg. Gain
CWH 27 2.04
SQZ 49 -0.52
HTF
0
HSB
0
DB
0
Breakouts Gaining at Least 5% for Week Beginning 06/14/21
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2021-06-14 AVXL CWH n 15.99 20.99 97 22.14 38.46% 40.28%
2021-06-14 MSTR SQZ y 516.45 598.49 96 646.46 25.17% 25.39%
2021-06-14 APEN CWH n 7.92 8.75 97 8.8 11.11% 13.76%
2021-06-14 HSKA CWH y 210.26 218.72 89 230.86 9.8% 10.13%
2021-06-17 ENPH SQZ y 152.03 161.99 87 165.85 9.09% 10.58%
2021-06-15 GTYH SQZ y 6.68 6.99 83 7.28 8.98% 15.87%
2021-06-14 MARA SQZ y 26.56 29.94 99 28.92 8.89% 20.71%
2021-06-14 GNRC CWH n 354.93 355.09 91 386.4 8.87% 10.34%
2021-06-14 EVLO CWH n 15.13 16.34 96 16.45 8.72% 12.36%
2021-06-15 MSTR SQZ y 598.50 630.54 97 646.46 8.01% 8.2%
2021-06-14 DOMO CWH n 72.50 72.77 87 78.17 7.82% 9.35%
2021-06-17 DMTK SQZ y 41.27 43.44 96 44.41 7.61% 8.38%
2021-06-14 WK CWH n 100.78 103.62 83 107.52 6.69% 7.3%
2021-06-15 HSKA SQZ y 218.73 221.85 90 230.86 5.55% 5.87%
*RS Rank on day before breakout.
CwH Stocks Likely to Close above BoP at Next Session*
Symbol Company Industry RS Rank Last Close BoP % off BoP
UUU Universal Security Instruments, Inc. Security & Protection Services 99 7.81 8.00 97.63
ALLT Allot Ltd. Communication Equipment 91 20.22 21.04 96.1
PACB Pacific Biosciences of California, Inc. Diagnostics & Research 98 29.15 30.31 96.17
PRT PermRock Royalty Trust Tr Oil & Gas Equipment & Services 96 7.08 7.09 99.86
STIM Neuronetics, Inc. Diagnostics & Research 98 16.85 17.56 95.96
USIO Usio, Inc. Software - Infrastructure 96 6.5 6.85 94.89
ANGO AngioDynamics, Inc. Medical Instruments & Supplies 94 25.47 25.75 98.91
IESC IES Holdings, Inc. Engineering & Construction 85 53.39 55.93 95.46
FPH Five Point Holdings, LLC Class A Real Estate - Development 80 8.04 8.39 95.83
CLNE Clean Energy Fuels Corp. Oil & Gas Refining & Marketing 98 11.78 14.50 81.24
SYNA Synaptics Inco Semiconductors 89 145.76 148.00 98.49
MRLN Marlin Business Services Corp. Credit Services 96 22.87 23.20 98.58
CVEO Civeo Corporation (Canada) Specialty Business Services 87 17.8 18.48 96.32
BLNK Blink Charging Co. Specialty Retail 99 39.28 43.00 91.35
SNAP Snap Inc. Internet Content & Information 93 63.17 65.66 96.21
GOOGL Alphabet Inc. Internet Content & Information 83 2402.22 2455.51 97.83
BE Bloom Energy Corporation Class A Electrical Equipment & Parts 82 24.65 26.98 91.36
QTRX Quanterix Corporation Biotechnology 89 64.44 69.09 93.27
MIC Macquarie Infrastructure Corporation Airports & Air Services 87 38.71 39.25 98.62
USCR U S Concrete, Inc. Building Materials 94 73.9 75.47 97.92
ASPN Aspen Aerogels, Inc. Building Products & Equipment 94 23.82 24.93 95.55
FUTU Futu Holdings Limited Capital Markets 99 154.34 163.78 94.24
PRTS CarParts.com, Inc. Internet Retail 87 18.29 19.25 95.01
COHR Coherent, Inc. Scientific & Technical Instruments 90 262.13 269.98 97.09
MRNS Marinus Pharmaceuticals, Inc. Biotechnology 80 18.5 19.59 94.44
RHP Ryman Hospitality Properties, Inc. REIT - Hotel & Motel 88 81.8 84.58 96.71
DNLI Denali Therapeutics Inc. Biotechnology 90 73.73 76.92 95.85
NTRA Natera, Inc. Diagnostics & Research 82 102.88 107.06 96.1
*These stocks were selected using our price breakout model. This model correctly selected CWH stocks that met or exceeded their breakout price with 80% probability over Jan. 2019 to Nov. 2020. This does not imply that on any one day, 80% or any of the stocks selected will meet or exceed their breakout price.
Top Rated Cup and Handle Stocks as of Friday June 18, 2021
Symbol BO
Price
BO
Vol.
Company Industry RS
Rank
Last
Close
UUU 8.00 285,740,031 Universal Security Instruments - Inc. Security & Protection Services 99 7.81
STIM 17.56 624,110 Neuronetics - Inc. Diagnostics & Research 98 16.85
CLNE 14.50 26,141,266 Clean Energy Fuels Corp. Oil & Gas Refining & Marketing 98 11.78
SLS 13.35 612,730 SELLAS Life Sciences Group - Inc. Biotechnology 97 11.39
HIMX 15.98 6,580,808 Himax Technologies - Inc. Semiconductors 97 14.00
MGI 11.85 3,883,806 Moneygram International - Inc. Credit Services 96 10.24
PRT 7.09 319,180,454 PermRock Royalty Trust Tr Oil & Gas Equipment & Services 96 7.08
UUUU 7.35 325,151,224 Energy Fuels Inc Uranium 96 6.23
RENN 12.30 2,147,483,647 Renren Inc. Auto & Truck Dealerships 96 11.39
BW 9.42 1,556,409 Babcock & Wilcox Enterprises - Inc. Specialty Industrial Machinery 95 7.50
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 33290.1
-3.45% 8.77% Down
NASDAQ 14030.4
-0.28% 8.86% Up
S&P 500 4166.45
-1.91% 10.93% 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 S&P 500
6.47
S&P 500
12.32
S&P 500
10.93
Best Performing Industry
1 Week 3 Weeks 13 Weeks 26 Weeks
Thermal Coal
Rental & Leasing Services
Uranium
REIT - Industrial
Most Improved Industry (by change in technical rank2)
Uranium
145
Uranium
145
REIT - Specialty
105
Thermal Coal
146
Charts of each industry rank and performance over 12 months are available on the site

 

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