Breakoutwatch Weekly Summary 12/04/21

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Weekly Commentary
Trend Signals are Negative

The NASDAQ has held up better than the other two major indexes but our trend signal turned negative on Friday as the index closed below its 50 day moving average. The NASDAQ was the last to turn negative as it was help up by the mega cap tech stocks which have a heavy weight in the index.

This was a volatile week with uncertainty over the impact the Omicron will have on the economy and a statement from Fed Chairman Powell admitting that inflation my not be transitory and support for the economy through asset purchases may be reduced sooner then previously anticipated. (See an analysis of Powell's remarks here).
Inevitably, the markets' downward trend has meant a sharp reduction in the number of long position breakouts, and the strength of gains that they may bring.
Chart of the Week

There were no cup and handle pattern stocks selected as possible breakouts on Friday for trading on Monday.

New Features this Week

No new features this week
Strategy Suggestions
Our latest strategy suggestions are here.
Breakouts Summary by Watchlist for Week Beginning 11/29/21
List Breakouts Avg. Gain
CWH 2 -0.29
SQZ 6 0.21
Breakouts Gaining at Least 5% for Week Beginning 11/29/21
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.
CwH Stocks Likely to Close above BoP at Next Session*
Symbol Company Industry RS Rank Last Close BoP % off BoP
There were no stocks meeting our probable breakout criteria today.
*These stocks were selected using our CWH price breakout model. This model selects stocks likely to close above the breakout price at the next session. When backtested over the three years beginning January 2019 until October 28, 2021, 80% of the stocks selected closed above their breakout price. This does not mean that on any day, 80% of the stocks selected will breakout, but it is the expectation over an extended period of time.
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Top Rated Cup and Handle Stocks as of Friday December 03, 2021
Symbol BO
Company Industry RS
PBF 16.46 5,475,298 PBF Energy Inc. Oil & Gas Refining & Marketing 90 12.68
GFI 11.79 7,472,537 Gold Fields Limited Ameri Gold 88 11.00
ARLO 8.41 1,026,326 Arlo Technologies - Inc. Security & Protection Services 86 7.92
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 34580.1
-0.91% 12.98% Down
NASDAQ 15085.5
-2.62% 17.05% Down
S&P 500 4538.43
-1.22% 20.83% 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
Dow Jones S&P 500
NASDAQ Composite
S&P 500
Best Performing Industry
1 Week 3 Weeks 13 Weeks 26 Weeks
REIT - Residential
Most Improved Industry (by change in technical rank2)
Agricultural Inputs
Agricultural Inputs
Agricultural Inputs
Agricultural Inputs
Charts of each industry rank and performance over 12 months are available on the site


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