Breakoutwatch Weekly Summary 03/14/20
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.
| Wait for Market Bottom to Be
Confirmed Before Going Long Friday's late afternoon market rebound in response to the announcement of a national emergency could mean that Thursday's low (NASDAQ -37% from high) will eventually be seen as the market bottom. The $50 billion that now comes available to fight the corona virus will likely be reinforced with another interest rate cut by the FOMC next week aimed at stimulating the economy. Will these stimuli be effective, only time will tell. Will the $50 billion be spent wisely by an administration already shown to be incompetent in its handling of the emergency? If consumers are isolated in their homes, how can they spend their enhanced spending power? Already the legislation passed by the House has been shown to guarantee sick leave to only about 20 percent of workers, so the virus will continue to be spread by workers who can't afford to self-isolate. Our trend model turned negative on February 24, when the NASDAQ had given up 7% from it's February 19 high. It is advisable to wait until the model turns positive again before adventuring into new long positions. Because the model is a lagging indicator, some potential profit from the advance from the low will be foregone, but the potential for whipsawing from a volatile market will be minimized. See "How to recognize a Market Bottom".  |
No chart this week as I don't want to encourage speculation. |
| No new features this week |
|
Our latest strategy
suggestions are here.
|
| List | Breakouts | Avg. Gain |
|---|---|---|
| CWH | 1 | 3.52 |
| SQZ | 1 | -9.07 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| 2020-03-13 | DLR | CWH | n | 138.46 | 143.34 | 94 | 143.34 | 3.52% | 3.72% |
| 2020-03-10 | AZO | SQZ | y | 1113.70 | 1148.3 | 80 | 1012.73 | -9.07% | 4.71% |
| *RS Rank on day before breakout. | |||||||||
| date | symbol | list | support | close | gain % |
|---|---|---|---|---|---|
| 03/11/2020 | GFI | HST | 5.97 | 5.9532 | 0.28 % |
| 03/12/2020 | CWEN | HST | 21.00 | 18.91 | 9.95 % |
| 03/12/2020 | NTES | HST | 317.58 | 297.62 | 6.29 % |
| 03/09/2020 | PHM | SS | 42.97 | 38.4988 | 10.41 % |
| 03/09/2020 | ETR | SS | 126.12 | 115.4 | 8.5 % |
| 03/09/2020 | WPC | SS | 83.09 | 76.84 | 7.52 % |
| 03/09/2020 | VRSK | SS | 161.78 | 147.657 | 8.73 % |
| 03/09/2020 | COST | SS | 305.87 | 301.98 | 1.27 % |
| 03/09/2020 | MPW | SS | 22.36 | 20.9765 | 6.19 % |
| 03/09/2020 | OKTA | SS | 128.36 | 114.85 | 10.53 % |
| 03/09/2020 | AEP | SS | 98.42 | 94.96 | 3.52 % |
| 03/09/2020 | GH | SS | 80.64 | 68.27 | 15.34 % |
| 03/09/2020 | HD | SS | 231.15 | 209.061 | 9.56 % |
| 03/09/2020 | LDOS | SS | 105.59 | 97.53 | 7.63 % |
| 03/09/2020 | O | SS | 76.74 | 73.32 | 4.46 % |
| 03/10/2020 | WPM | SS | 29.61 | 29.47 | 0.47 % |
| 03/10/2020 | GFI | SS | 6.47 | 6.4081 | 0.96 % |
| 03/10/2020 | BAH | SS | 75.63 | 74.65 | 1.3 % |
| 03/10/2020 | CMS | SS | 65.74 | 65.51 | 0.35 % |
| 03/11/2020 | AMT | SS | 238.35 | 232.9 | 2.29 % |
| 03/11/2020 | LVGO | SS | 26.48 | 25.16 | 4.98 % |
| 03/11/2020 | MAA | SS | 137.30 | 133.88 | 2.49 % |
| 03/11/2020 | GFI | SS | 6.47 | 5.9532 | 7.99 % |
| 03/11/2020 | ELS | SS | 72.41 | 68.87 | 4.89 % |
| 03/12/2020 | AMT | SS | 238.42 | 217.83 | 8.64 % |
| 03/12/2020 | DG | SS | 157.40 | 141.97 | 9.8 % |
| 03/12/2020 | PFSI | SS | 34.96 | 30.76 | 12.01 % |
| 03/12/2020 | TNK | SS | 18.24 | 16.52 | 9.43 % |
| 03/12/2020 | UTHR | SS | 96.92 | 86.14 | 11.12 % |
| 03/12/2020 | MAA | SS | 137.40 | 117.61 | 14.4 % |
| 03/12/2020 | ELS | SS | 72.39 | 63.97 | 11.63 % |
| Symbol | BO Price |
BO Vol. |
Company | Industry | RS Rank |
Last Close |
|---|---|---|---|---|---|---|
| RESI | 12.86 | 1,085,722 | Front Yard Residential Corporation Common Stock | REIT - Residential | 94 | 12.47 |
| TGNA | 18.31 | 4,632,069 | TEGNA Inc | Broadcasting | 93 | 17.01 |
| 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 | 23185.6 |
-10.36% | -18.76% | Down |
| NASDAQ | 7874.88 |
-8.17% | -12.23% | Down |
| S&P 500 | 2711.02 |
-8.79% | -16.09% | 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. |
||||
| 1 Week | 13 Weeks | 26 Weeks | Year-to-Date |
|---|---|---|---|
| NASDAQ Composite |
NASDAQ Composite -9.85 |
NASDAQ Composite -3.69 |
NASDAQ Composite -12.23 |
| 1 Week | 3 Weeks | 13 Weeks | 26 Weeks |
|---|---|---|---|
| REIT - Industrial |
Financial Data & Stock Exchanges |
| Grocery Stores 93 |
Grocery Stores 96 |
Gold 172 |
Closed-End Fund - Debt 200 |
| Charts of each industry rank and performance over 12 months are available on the site | |||
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