Breakoutwatch Weekly Summary 03/23/19
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.
| NASDAQ Retreats as US and World
Economies Show Weakness Initial optimism that the decision by the Federal Reserve to make no further interest rate increases this year would allow the bull market to continue was brought into doubt when the yield curve inverted on Thursday. The Fed announcement already implied that the economy was weakening and could not withstand further rate increases. This concern was reinforced when the yield curve inversion signaled that a recession may lie ahead. Overall the NASDAQ gained 1.5% for the week but this could have been considerably higher had the index not given up 2.5% on Friday. It should be noted that although this was a significant loss, it came on volume significantly below the 50 day average and so the strength of this reversal remains to be seen. The number of breakouts fell to 14 from 25 last week and gains were significantly constrained by Friday's retreat.  |
| No new features this week |
|
Our latest strategy
suggestions are here.
|
| List | Breakouts | Avg. Gain |
|---|---|---|
| CWH | 7 | 0.12 |
| SQZ | 7 | 0.9 |
| HTF | 0 | |
| HSB | 0 | |
| DB | 0 |
| Brkout Date | Symbol | Base | Squeeze | Brkout Price | Brkout Day Close | RS Rank* | Last Close | Current % off BOP | Gain at Intraday High |
|---|---|---|---|---|---|---|---|---|---|
| 2019-03-18 | LMRK | SQZ | y | 14.98 | 15.29 | 80 | 16.18 | 8.01% | 9.95% |
| 2019-03-19 | LMRK | SQZ | y | 15.30 | 15.62 | 83 | 16.18 | 5.75% | 7.65% |
| 2019-03-21 | SPNS | CWH | n | 14.74 | 15.35 | 93 | 15.25 | 3.46% | 9.23% |
| 2019-03-18 | TNAV | CWH | n | 6.15 | 6.37 | 91 | 6.36 | 3.41% | 13.82% |
| 2019-03-20 | BMS | CWH | y | 53.64 | 53.65 | 85 | 54.34 | 1.3% | 2.2% |
| 2019-03-18 | HMLP | SQZ | y | 18.73 | 19.13 | 82 | 18.92 | 1.01% | 3.47% |
| 2019-03-18 | DMRC | CWH | n | 31.70 | 31.82 | 92 | 31.95 | 0.79% | 9.78% |
| 2019-03-18 | LBRDK | SQZ | y | 92.40 | 93.03 | 82 | 92.81 | 0.44% | 2.42% |
| 2019-03-19 | TNAV | SQZ | y | 6.38 | 6.65 | 92 | 6.36 | -0.31% | 9.72% |
| 2019-03-21 | ANET | CWH | n | 304.97 | 315.02 | 87 | 300.16 | -1.58% | 3.84% |
| 2019-03-19 | CVA | SQZ | y | 17.29 | 17.3 | 82 | 16.82 | -2.72% | 1.04% |
| 2019-03-18 | ESNT | CWH | y | 45.06 | 46.63 | 85 | 43.83 | -2.73% | 6.39% |
| 2019-03-20 | BOOM | CWH | n | 49.90 | 50.11 | 93 | 48.01 | -3.79% | 4.29% |
| 2019-03-19 | BV | SQZ | y | 15.08 | 15.75 | 90 | 14.19 | -5.9% | 5.24% |
| *RS Rank on day before breakout. | |||||||||
| Symbol | BO Price |
BO Vol. |
Company | Industry | RS Rank |
Last Close |
|---|---|---|---|---|---|---|
| No stocks met 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 | 25502.3 |
-2.03% | 9.32% | Up |
| NASDAQ | 7642.67 |
1.53% | 15.18% | Up |
| S&P 500 | 2800.71 |
0.29% | 11.72% | 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 |
|---|---|---|---|
| NASDAQ Composite |
NASDAQ Composite 20.68 % |
NASDAQ Composite -4.31 % |
NASDAQ Composite 15.18 % |
| 1 Week | 3 Weeks | 13 Weeks | 26 Weeks |
|---|---|---|---|
| Foreign Utilities |
Foreign Utilities |
Foreign Utilities |
Auto Parts Stores |
| Semiconductor - Memory Chips 55 |
Multimedia & Graphics Software 86 |
Music & Video Stores 208 |
Music & Video Stores 208 |
| Charts of each industry rank and performance over 12 months are available on the site | |||
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