Breakoutwatch Weekly Summary 10/21/17
You are receiving this email because you are or were a BreakoutWatch.com subscriber, or have subscribed to our weekly newsletter. This newsletter summarizes the breakout events of the week and provides additional guidance that does not fit into our daily format. It is published each weekend.
Tax Reform Critical to Continued Upward Trend The NASDAQ Composite hit a new high each day this week with the notable exception of Thursday, when optimism over a health care fix faded. It is interesting to compare the NASDAQ chart with that of the DJI, particularly on Thursday and Friday. On Thursday, the DJI was virtually unchanged due to a surge in volume giving price support as it appeared that the Senate would pass a budget resolution and this continued on Friday as the index gapped up and volume increased by 50% over the 50 day average. The significance of the budget being passed is that it allows the Republicans to pass tax reform in the Senate without Democratic support. It is clear that a continued advance of the bull market is predicated on continued progress on tax reform. If opposition from Republican deficit hawks mounts, then we could see the advance come under threat. The number of breakouts increased from 9 last week to 14 this week, although the average gains were modest.   |
| No new features this week. |
|
Our latest strategy
suggestions are here.
|
| List | Breakouts | Avg. Gain |
|---|---|---|
| CWH | 9 | 1.79 |
| SQZ | 4 | 1.36 |
| HTF | 0 | |
| HSB | 0 | |
| DB | 1 | 0.85 |
| Brkout Date | Symbol | Base | Squeeze | BrkoutOut Price | Brkout Day Close | RS Rank* | Last Close | Current % off BOP | Gain at Intraday High |
|---|---|---|---|---|---|---|---|---|---|
| 2017-10-20 | CROX | CWH | n | 9.99 | 11 | 91 | 10.5 | 5.11% | 7.01% |
| 2017-10-17 | SFBS | CWH | n | 39.95 | 41 | 91 | 41.5 | 3.88% | 5.06% |
| 2017-10-16 | FONR | CWH | n | 31.85 | 32 | 92 | 33.05 | 3.77% | 4.87% |
| 2017-10-20 | HCC | SQZ | y | 26.70 | 27 | 93 | 27.42 | 2.7% | 3.63% |
| 2017-10-20 | IIVI | CWH | n | 42.50 | 43 | 87 | 43.3 | 1.88% | 2.12% |
| 2017-10-19 | BX | CWH | y | 33.83 | 34 | 86 | 34.46 | 1.86% | 2.84% |
| 2017-10-16 | CHGG | CWH | n | 15.65 | 16 | 96 | 15.86 | 1.34% | 3.71% |
| 2017-10-20 | PCYO | SQZ | y | 7.71 | 8 | 87 | 7.8 | 1.17% | 4.41% |
| 2017-10-20 | EWBC | CWH | n | 60.74 | 61 | 82 | 61.37 | 1.04% | 1.3% |
| 2017-10-16 | FTAI | SQZ | y | 18.26 | 19 | 84 | 18.44 | 0.99% | 1.53% |
| 2017-10-18 | OKSB | CWH | n | 28.20 | 28 | 80 | 28.45 | 0.89% | 1.42% |
| 2017-10-16 | MSG | DB | n | 217.53 | 218 | 74 | 219.38 | 0.85% | 1.06% |
| 2017-10-20 | PNM | SQZ | y | 41.91 | 42 | 80 | 42.15 | 0.57% | 1.05% |
| 2017-10-17 | KMG | CWH | n | 56.90 | 58 | 86 | 54.82 | -3.66% | 4.39% |
| *RS Rank on day before breakout. | |||||||||
| Symbol | BO Price |
BO Vol. |
Company | Industry | RS Rank |
Last Close |
|---|---|---|---|---|---|---|
| GNBC | 24.40 | 317,343 | Green Bancorp - Inc. - Common Stock | Money Center Banks | 95 | 23.20 |
| MTLS | 16.50 | 83,794 | Materialise NV - American Depositary Shares | Application Software | 95 | 15.18 |
| NRG | 26.68 | 8,178,856 | NRG Energy - Inc. Common Stock | Diversified Utilities | 94 | 25.40 |
| These stocks meet our suggested screening factors
for our Cup and Handle Chart Pattern watchlist. See Revised Rules for Trading Cup and Handle Breakouts |
||||||
| Index | Value | Change Week | Change YTD | Trend1 |
|---|---|---|---|---|
| Dow | 23328.6 |
2% | 18.04% | Up |
| NASDAQ | 6629.05 |
0.35% | 23.15% | Up |
| S&P 500 | 2575.21 |
0.86% | 15.02% | 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. |
||||
| 1 Week | 13 Weeks | 26 Weeks | Year-to-Date |
|---|---|---|---|
| Dow Jones |
Dow Jones 8.1 % |
Dow Jones 13.53 % |
NASDAQ Composite 23.15 % |
| 1 Week | 3 Weeks | 13 Weeks | 26 Weeks |
|---|---|---|---|
| Machine Tools & Accessories |
Aluminum |
Aluminum |
Aluminum |
| Publishing - Books 103 |
Personal Computers 214 |
Personal Computers 215 |
Personal Computers 214 |
| Charts of each industry rank and performance over 12 months are available on the site | |||
If you received this newsletter from a friend and you would like to receive it regularly please go to the BreakoutWatch.com site and you will then be able to register to receive the newsletter.
Copyright (c) 10/21/2017 NBIcharts, LLC dba BreakoutWatch.com. All
rights reserved.
" BreakoutWatch," the BreakoutWatch.com "eye" logo, and the slogan
"tomorrow's breakouts today" are service marks of NBIcharts LLC. All
other marks are the property of their respective owners, and are used
for descriptive purposes only.
BreakoutWatch is not affiliated with Investor's Business Daily or with Mr. William O'Neil. Our site, research and analysis is supported entirely by subscription and is free from advertising.