Breakoutwatch Weekly Summary 02/26/2023

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Contents

Market Summary

Stocks suffer biggest decline in 10 weeks

A cascade of upside inflation and growth surprises pushed the S&P 500 Index to its worst weekly loss since early December. At its close on Friday, the index had surrendered roughly 35% of the rally that began in October, but it remained up 3.40% for the year to date. The declines pushed the narrowly focused Dow Jones Industrial Average into negative territory for 2023, however. Communication services and consumer discretionary stocks performed worst within the S&P 500, but the declines were widespread, and growth stocks fell only modestly more than value shares. [more...]

Major Index Performance

Dow Jones
Last Close 32816.9
Wk. Gain -2.62 %
Yr. Gain -0.92 %
Trend Down
Dow Jones
S&P 500
Last Close 3970.04
Wk. Gain -2.03 %
Yr. Gain 3.68 %
Trend Down
S&P 500
NASDAQ Comp.
Last Close 11394.9
Wk. Gain -2.11 %
Yr. Gain 9.9 %
Trend Down
NASDAQ Comp.
Russell 2000
Last Close 1890.49
Wk. Gain -2.4 %
Yr. Gain 6.82 %
Trend Down
Russell 2000

Performance by Sector

Sector Wk. Change % Yr. Change % Trend
Consumer Discretionary -2.54 12.61 Down
Consumer Staples -0.8 -1.62 Up
Energy 0.92 -1.59 Down
Finance -1.12 5.87 Down
Health Care -2.14 -4.31 Down
Industrials -1.89 4.66 Down
Technology -1.32 10.97 Down
Materials -0.2 5.54 Down
REIT -3.27 3.92 Down
Telecom -2.96 11.59 Down
Utilities -2.06 -6.04 Down

Breakouts This Week Still Within 5% of Breakout Price (Limit 20 top C Score)

Watchlist Symbol Company Industry C Score* % Gain
SQZ VTRU Vitru Limited Education & Training Services 83.3 % 1.3 %
SQZ BLD TopBuild Corp. Engineering & Construction 81.5 % 0.5 %
SQZ HPK HighPeak Energy, Inc. Oil & Gas E&P 81.3 % 0.4 %
SQZ NETI Eneti Inc. Marine Shipping 80.8 % 1 %
CWH HUBB Hubbell Inc Electrical Equipment & Parts 79.9 % 0.2 %
SQZ HURN Huron Consulting Group Inc. Consulting Services 77 % 0.1 %
SQZ TRGP Targa Resources, Inc. Oil & Gas Midstream 74.1 % 0.3 %
SQZ STVN Stevanato Group S.p.A. Or Medical Instruments & Supplies 73 % 3.7 %
SQZ CGBD Carlyle Secured Lending, Inc. Asset Management 72.5 % 0.3 %
SQZ UNM Unum Group Insurance - Life 72.4 % 1.6 %
CWH EVH Evolent Health, Inc Health Information Services 72.2 % 1.8 %
CWH PWR Quanta Services, Inc. Engineering & Construction 71.4 % 1.3 %
SQZ CNO CNO Financial Group, Inc. Insurance - Life 69.6 % 2 %
CWH FTAI FTAI Aviation Ltd. Rental & Leasing Services 69.5 % 1.9 %
SQZ NVGS Navigator Holdings Ltd. O Oil & Gas Midstream 66.8 % 1.6 %
SQZ TGS Transportadora de Gas del Sur SA TGS Oil & Gas Integrated 65.5 % 2.9 %
SQZ VOXX VOXX International Corporation Consumer Electronics 58.5 % 1.5 %
SQZ SGML Sigma Lithium Corporation Other Industrial Metals & Mining 58.2 % 2 %
*C score is our assessment of a Stock's correlation to CAN SLIM principles. It combines a stock's Technical and Fundamental merits and is expressed as a percentage.

Breakdowns within 5% of Breakdown Price

Watchlist Symbol Company Industry C Score* % Loss
SS HDSN Hudson Technologies, Inc. Specialty Chemicals 78.8 % -2.3 %
SS CFFI C&F Financial Corporation Banks - Regional 73.5 % -0 %
SS ARLP Alliance Resource Partners, L.P. Thermal Coal 72 % -2.9 %
SS MCRI Monarch Casino & Resort, Inc. Resorts & Casinos 70 % -2 %
SS NPO EnPro Industries Inc Specialty Industrial Machinery 68.3 % -3.2 %
SS WES Western Midstream Partners, LP Oil & Gas Midstream 67.1 % -2.5 %
SS AXL American Axle & Manufacturing Holdings, Inc. Auto Parts 66.9 % -0.7 %
SS SRPT Sarepta Therapeutics, Inc. Biotechnology 64.9 % -1 %
SS TMUS T-Mobile US, Inc. Telecom Services 64.8 % -0.1 %
SS WMT Walmart Inc. Discount Stores 63.8 % -0.9 %
SS LKFN Lakeland Financial Corporation Banks - Regional 62.9 % -1.4 %
SS GES Guess?, Inc. Apparel Retail 60.9 % -2.3 %
SS NWBI Northwest Bancshares, Inc. Banks - Regional 59.4 % -1.4 %
SS CORT Corcept Therapeutics Inco Biotechnology 59.3 % -2.8 %
SS CDRE Cadre Holdings, Inc. Aerospace & Defense 52 % -0.7 %
SS CTKB Cytek Biosciences, Inc. Medical Devices 50.4 % -1.2 %
SS SMR NuScale Power Corporation Class A Specialty Industrial Machinery 46.8 % -3.3 %
SS CHPT ChargePoint Holdings, Inc. Specialty Retail 36.5 % -3.9 %
*C score is our assessment of a Stock's correlation to CAN SLIM principles. It combines a stock's Technical and Fundamental merits and is expressed as a percentage.

Cup and Handle Stocks Likely to Breakout at Next Session

Symbol BoP Company Industry Within x% of BoP C Score*
There were no CWH stocks meeting our breakout model criteria
*C score is our assessment of a Stock's correlation to CAN SLIM principles. It combines a stock's Technical and Fundamental merits and is expressed as a percentage.

Cup and Handle Chart of the Week

I could not find any cup and handle charts worth proposing this week.