Breakoutwatch Weekly Summary 10/05/19

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Weekly Commentary
Trend Indicators Turn Negative; Revised Industry Classification Our trend indicators turned negative for the three major indexes on Monday. The indicator for the Dow Jones Indus trials recovered on Friday following a positive jobs report but the NASDAQ and S&P 500 remain negative. Last week I showed that the NASDAQ had completed a bearish Double Top pattern and the chart still shows that the bearish signal is still in effect. Heavy selling for all major indexes on Tuesday and Wednesday followed the ISM manufacturing index falling to its lowest level since June 2009. Thursday started with a continuing decline leading to an oversold position but the NASDAQ found support at the 200 day moving average level and the index closed higher following short sale covering. Friday's gap up followed the positive employment report but volume levels were well below the 50 day average showing residual fear that a correction is looming. Note that the best performing industries are Utilities indicating that there is a move towards defensive stock positions. The negative trend for the week inevitably meant that there were very few breakouts.

New Features this Week
No new features this week, however I have reviewed the industry data I provide and found a number of anomalies. Among these were: Industries with no components were rated as best performing in industry rankings. Now only industries with at least 5 components are considered in the rankings. Industry categories are refreshed from Yahoo Finance and I discovered that they had changed their industry classification scheme with the result that our classification was no longer being refreshed correctly. I am in the process of re-aligning the classification schemes and consequently the industry browser is temporarily unavailable.

Strategy Suggestions
Our latest strategy suggestions are here.

Breakouts Summary by Watchlist for Week Beginning 09/30/19
List	Breakouts	Avg. Gain
CWH	3	0.9
SQZ	1	-0.09
HTF		0
HSB		0
DB		0

Breakouts Detail for Week Beginning 09/30/19
Brkout Date	Symbol	Base	Squeeze	Brkout Price	Brkout Day Close	RS Rank^*	Last Close	Current % off BOP	Gain at Intraday High
2019-10-04	FORM	CWH	n	19.74	20.34	93	20.34	3.04%	3.14%
2019-10-04	HUBG	CWH	y	47.40	47.52	83	47.52	0.25%	1.58%
2019-09-30	ZF	SQZ	y	11.14	47.52	86	11.13	-0.09%	-0.09%
2019-09-30	NHS	CWH	y	12.13	0	80	12.06	-0.58%	-0.58%
^*RS Rank on day before breakout.

Top Rated Cup and Handle Stocks as of Friday October 04, 2019
Symbol	BO Price	BO Vol.	Company	Industry	RS Rank	Last Close
ALDR	18.95	4,300,284	Alder BioPharmaceuticals - Inc.	Biotechnology	97	18.90
AKTS	8.77	670,330	Akoustis Technologies - Inc.	Communication Equipment	92	7.95
CZR	12.03	16,776,519	Caesars Entertainment Corporation	Resorts & Casinos	88	11.66
PLAB	11.45	690,910	Photronics - Inc.	Semiconductor Equipment & Materials	87	10.85
PSDO	16.96	1,925,121	Presidio - Inc.	Information Technology	87	16.79
CORT	15.03	1,117,971	Corcept Therapeutics Incorporated	Biotechnology	86	14.19
VRRM	15.10	1,340,434	Verra Mobility Corporation - Class A Common Stock	Security & Protection Services	85	13.97
WSC	16.89	722,250	WillScot Corporation	Rental & Leasing Services	85	15.57
SONO	15.41	2,407,084	Sonos - Inc.	Electronic Equipment	84	13.39
TTMI	12.63	1,614,963	TTM Technologies - Inc.	Printed Circuit Boards	81	12.29
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	26573.7	-0.92%	13.92%	Up
NASDAQ	7982.47	0.54%	20.3%	Down
S&P 500	2952.01	-0.33%	17.76%	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
NASDAQ Composite	S&P 500 -1.28 %	S&P 500 2.05 %	NASDAQ Composite 20.3 %

Best Performing Industry
1 Week	3 Weeks	13 Weeks	26 Weeks
Electric Utilities	Diversified Utilities	Water Utilities	Insurance Brokers

Most Improved Industry (by change in technical rank²)
Medical Practitioners 190	Consumer Services 182	Personal Computers 187	Drug Delivery 180
Charts of each industry rank and performance over 12 months are available on the site

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