| Market Summary | Weekly Breakout Report | Top Breakout Choices | Top 2nd Chances | New Features | Tip of the Week |
The three major indexes tested new highs on Monday but failed the test which resulted in a heavy distribution day. Our trend indicator of the DJI turned negative while the indicator for the other indexes remains positive. That would likely have changed were it not for Friday's durable goods report which lifted spirits. The upward momentum did not produce an accumulation day, however, possibly because volumes are usually lower on summer Friday's. Although the durable goods headline was bullish, a look behind the numbers produced this warning from Peter Brookvar:
"Bottom
line, while volatile transports boosted the top line order number, the
core cap ex component is down for the 4th month in the past 5 and
likely reflects the reluctance on the part of companies to invest
heavily in the current challenging global economic environment where
visibility is very limited."
So our economic malaise is likely to continue. What this means for the
stock market though is unclear as the Federal Reserve has practically
promised more stimulus in September. Expect more sideways movement
until that is resolved.
No new features this week.
No tip this week.
| Index | Value | Change Week | Change YTD | Trend | ||||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Dow | 13158 | -0.88% | 7.7% | Down | ||||||||||||||||||||||||||||||||||||
| NASDAQ | 3069.79 | -0.22% | 17.84% | Up | ||||||||||||||||||||||||||||||||||||
| S&P 500 | 1411.13 | -0.5% | 12.21% | Up | ||||||||||||||||||||||||||||||||||||
1The Market Signal is derived from our proprietary
market model. The market model is described on the site. 2The site also shows industry rankings based on fundamentals, combined technical and fundamentals, and on price alone. The site also shows daily industry movements. |
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# of Breakouts |
Period Average1 |
Max. Gain During Period2 |
Gain at Period Close3 |
|
|---|---|---|---|---|
| This Week | 9 | 14 | 3.72% | 3.60% |
| Last Week | 16 | 13.92 | 5.63% | 2.21% |
| 13 Weeks | 201 | 14.62 | 12.67% |
6.57% |
2This represents the return if each stock were bought at its breakout price and sold at its intraday high.
3This represents the return if each stock were bought at its breakout price and sold at the most recent close.
Category |
Symbol |
Company Name |
Expected Gain1 |
|---|---|---|---|
| Best Overall | SYPR | Sypris Solutions, Inc. | 110 |
| Top Technical | SYPR | Sypris Solutions, Inc. | 110 |
| Top Fundamental | CAP | CAI International Inc | 49 |
| Top Tech. & Fund. | ECHO | Echo Global Logistics, Inc. | 42 |
Category |
Symbol |
Company Name |
Expected Gain1 |
|---|---|---|---|
| Best Overall | ANW | Aegean Marine Petroleum Network Inc. | 102 |
| Top Technical | THLD | Threshold Pharmaceuticals, Inc. | 85 |
| Top Fundamental | MOV | Movado Group, Inc | 56 |
| Top Tech. & Fund. | THLD | Threshold Pharmaceuticals, Inc. | 85 |
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