Breakoutwatch Weekly Summary 01/15/21

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Weekly Commentary
NASDAQ Retreats from New High in Face of Pandemic Surge, Increasing Unemployment and Threats of Violence

The NASDAQ set another new high on Thursday but selling increased leaving the index with a loss on the day. Selling pressure increased on Friday as traders left their desks before the long weekend. For the week the NASDAQ lost 1.5%, led downwards mostly by weakness in the mega cap tech stocks Apple, Facebook and Amazon.

The Covid 19 pandemic continues to threaten the pace of the economic recovery as evidenced by increasing unemployment claims and falling retail sales. The massive 1.9T stimulus proposed by the incoming Biden administration on Thursday might have been expected to lift markets, but didn't, perhaps because with a third of the country still believing the election was stolen, prospects for its bipartisan support are dim.
NASDAQ Chart
I'm a frequent follower of Barry Ritholz' The Big Picture and on Friday he showed a graphic that nicely summarizes prevailing macro and Market factors.

Macro and Market Factors
Chart of the Week
Moneygram International (MGI) is showing classic right cup and right handle characteristics. MGI closed 4% below the pivot on Friday so it may be a couple of days before the breakout occurs. A breakout would mean a target gain of 17% to the next resistance level (left cup) would be possible. MGI is also listed on our list of "CwH Stocks Likely to Close above BoP at Next Session" with the highest probability. This list is published every day in our Daily Newsletter.
Chart MGI
New Features this Week

No new features this week
Strategy Suggestions
Our latest strategy suggestions are here.
Breakouts Summary by Watchlist for Week Beginning 01/11/21
List Breakouts Avg. Gain
CWH 5 2.06
SQZ 45 3.78
HTF 3 -1.08
HSB
0
DB
0
Breakouts Detail for Week Beginning 01/11/21
Brkout Date Symbol Base Squeeze Brkout Price Brkout Day Close RS Rank* Last Close Current % off BOP Gain at Intraday High
2021-01-12 BBBY SQZ y 20.50 21.53 89 25.595 24.85% 35.32%
2021-01-13 BBBY SQZ y 21.54 23.02 90 25.595 18.83% 28.78%
2021-01-12 IDYA SQZ y 14.93 15.45 83 16.85 12.86% 16.36%
2021-01-12 GM SQZ y 45.02 47.82 80 49.97 11% 15.22%
2021-01-11 NBLX SQZ y 11.84 11.87 81 13.04 10.14% 14.27%
2021-01-12 NVAX SQZ y 116.49 124.14 99 127.43 9.39% 16.5%
2021-01-13 IDT SQZ y 12.81 13.08 84 13.84 8.04% 10.77%
2021-01-15 CYH SQZ y 8.39 9.05 93 9.05 7.87% 8.58%
2021-01-12 ALTM SQZ y 48.15 49.18 97 51.91 7.81% 10.38%
2021-01-14 RUTH SQZ y 17.50 18.47 85 18.82 7.54% 8.51%
2021-01-13 INSP SQZ y 195.15 200.86 92 209.77 7.49% 11.19%
2021-01-12 CWH SQZ y 28.95 31.62 89 31.11 7.46% 14.68%
2021-01-11 CMBM SQZ y 26.67 26.98 95 28.6 7.24% 12%
2021-01-11 CPS SQZ y 37.47 42.14 94 40.04 6.86% 14.79%
2021-01-12 NTG CWH n 23.66 24.49 82 25.18 6.42% 8.58%
2021-01-14 APPN SQZ y 159.56 174.09 96 169.7 6.35% 10.72%
2021-01-14 IDT SQZ y 13.09 13.9 85 13.84 5.73% 8.4%
2021-01-12 FRTA SQZ y 18.62 18.65 85 19.54 4.94% 6.5%
2021-01-11 CARV SQZ y 7.08 7.12 90 7.43 4.94% 24.97%
2021-01-14 INSP SQZ y 200.87 211.47 92 209.77 4.43% 8.02%
2021-01-12 CARV SQZ y 7.13 7.48 90 7.43 4.21% 24.1%
2021-01-15 ALTM SQZ y 49.98 51.91 97 51.91 3.86% 6.34%
2021-01-11 IHRT SQZ y 13.29 13.33 80 13.8 3.84% 4.21%
2021-01-15 CIICU SQZ y 33.60 34.88 96 34.88 3.81% 8.51%
2021-01-12 PBI CWH n 7.17 24.49 91 7.44 3.77% 13.74%
2021-01-14 SLCA HTF n 9.23 9.82 96 9.55 3.47% 7.69%
2021-01-15 CMLS SQZ y 9.54 9.82 86 9.82 2.94% 4.66%
2021-01-12 EGHT HTF n 35.72 36.5 92 36.73 2.83% 5.94%
2021-01-15 IGMS SQZ y 94.48 97.15 82 97.15 2.83% 5.36%
2021-01-15 VNE SQZ y 22.80 23.31 84 23.31 2.24% 2.96%
2021-01-15 FRTA SQZ y 19.12 19.54 82 19.54 2.2% 3.71%
2021-01-13 CLCT SQZ y 76.36 76.4 94 77.48 1.47% 1.85%
2021-01-14 CLCT SQZ y 76.41 77.4 94 77.48 1.4% 1.78%
2021-01-15 IRTC SQZ y 247.11 250.57 89 250.57 1.4% 3.19%
2021-01-12 WYY SQZ y 11.61 124.14 99 11.74 1.12% 16.57%
2021-01-14 HVT CWH n 32.81 33.86 87 33.14 1.01% 4.05%
2021-01-12 CIR SQZ y 37.87 39.3 82 38.2 0.87% 5.31%
2021-01-15 CLCT SQZ y 77.41 77.48 94 77.48 0.09% 0.47%
2021-01-12 MATX CWH n 65.04 66.22 81 65.04 0% 7.69%
2021-01-14 MESA SQZ y 6.55 6.79 81 6.54 -0.15% 8.24%
2021-01-13 HYRE SQZ y 8.11 8.55 96 8.09 -0.25% 8.51%
2021-01-12 NEON CWH n 8.80 9.22 92 8.72 -0.91% 7.84%
2021-01-12 RENN SQZ y 6.09 124.14 96 6.03 -0.99% 5.09%
2021-01-14 SRT SQZ y 8.08 8.29 83 7.97 -1.36% 3.47%
2021-01-12 GPS SQZ y 22.40 23.3 81 22.06 -1.52% 5.29%
2021-01-14 PK SQZ y 17.76 18.02 81 17.33 -2.42% 3.04%
2021-01-14 PRTS SQZ y 13.54 13.81 96 13.01 -3.91% 5.69%
2021-01-13 GOGO SQZ y 11.44 11.62 95 10.98 -4.02% 17.48%
2021-01-14 TISI SQZ y 11.39 11.83 86 10.9 -4.3% 6.23%
2021-01-12 NNBR SQZ y 6.38 6.62 82 6.09 -4.55% 6.43%
2021-01-12 NETE SQZ y 13.91 14.84 95 13.21 -5.03% 10.71%
2021-01-12 FUV SQZ y 17.16 18.52 98 15.88 -7.46% 12.18%
2021-01-12 ONCS HTF n 6.92 36.5 96 6.26 -9.54% -4.81%
*RS Rank on day before breakout.
Top Rated Cup and Handle Stocks as of Friday January 15, 2021
Symbol BO
Price		 BO
Vol.		 Company Industry RS
Rank		 Last
Close
WYY 13.53 768,718 WidePoint Corporation Information Technology Services 99 11.74
FUV 19.25 5,289,170 Arcimoto - Inc. Recreational Vehicles 98 15.88
MGI 7.58 4,904,786 Moneygram International - Inc. Credit Services 96 7.27
SPWH 18.08 2,765,626 Sportsman's Warehouse Holdings - Inc. Leisure 90 17.59
SAVA 12.98 5,149,640 Cassava Sciences - Inc. Biotechnology 89 10.57
SSSS 14.75 627,982 SuRo Capital Corp. Asset Management 84 14.12
TEN 12.94 1,503,086 Tenneco Inc. Auto Parts 83 10.76
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 30814.3
 -0.91% 0.68% Up
NASDAQ 12998.5
 -1.54% 0.86% Up
S&P 500 3768.25
 -1.48% 0.32% 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.
Best Performing Index
1 Week 13 Weeks 26 Weeks Year-to-Date
Dow Jones NASDAQ Composite
11.37		 NASDAQ Composite
23.76		 NASDAQ Composite
0.86
Best Performing Industry
1 Week 3 Weeks 13 Weeks 26 Weeks
Uranium
 Aluminum
 Silver
Most Improved Industry (by change in technical rank2)
Electrical Equipment & Parts
50		 Textile Manufacturing
113		 Department Stores
125		 Textile Manufacturing
127
Charts of each industry rank and performance over 12 months are available on the site

 

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