Breakoutwatch Weekly Summary 09/25/21
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| NASDAQ Shrugs Off China Contagion
Fears and Investors Buy the Dip The week started with fears that a possible default by Chinese property developer Evergrande would destabilize world markets adding to worries that a correction is near as debt ceiling and infrastructure talks appear close to failing. This led to a sharp drop in the markets on Monday, taking the NASDAQ to below the 50 day average. The threat to world markets was soon seen as exaggerated and investors saw another opportunity to buy the dip. The NASDAQ is now just 3% below its September 7 high. However, failure to raise the debt ceiling and the defeat of the Biden agenda by factions in his own party would certainly threaten the continued economic recovery as many of the programs that have supported the economy over the last 18 months have been, or soon will be, withdrawn.  The problems with the site over the
last month are now mostly resolved and I can return to its
continued enhancement. Please tell me if any functions are not
working as expected.
|
| The financial
sector gained 2.2% this week after the Fed's statement on
Wednesday said that "our interest rate and balance sheet tools
is providing powerful support of the economy and will continue
to do so". This chart shows that Charles Schwab reacted positively to statement and could be poised to breakout on Monday.  |
| No new features this week |
|
Our latest strategy
suggestions are here.
|
| List | Breakouts | Avg. Gain |
|---|---|---|
| CWH | 9 | 2.19 |
| SQZ | 42 | 1.89 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|
| 2021-09-21 | CALX | SQZ | y | 47.41 | 47.6 | 92 | 52 | 9.68% | 13.56% |
| 2021-09-23 | AER | SQZ | y | 55.03 | 58.29 | 86 | 58.44 | 6.2% | 8.03% |
| 2021-09-23 | EQBK | SQZ | y | 31.92 | 33.6 | 89 | 33.67 | 5.48% | 6.7% |
| *RS Rank on day before breakout. | |||||||||
| Symbol | Company | Industry | RS Rank | Last Close | BoP | % off BoP |
|---|---|---|---|---|---|---|
| SCHW | Charles Schwab Corporation (The) | Capital Markets | 88 | 75.59 | 76.00 | 99.46 |
| SSBI | Summit State Bank | Banks - Regional | 84 | 17.48 | 17.50 | 99.89 |
| USIO | Usio, Inc. | Software - Infrastructure | 96 | 6.28 | 6.67 | 94.15 |
| TSQ | Townsquare Media, Inc. | Advertising Agencies | 94 | 13.09 | 13.64 | 95.97 |
| *These stocks were selected using our price breakout model. This model correctly selected CWH stocks that met or exceeded their breakout price with 80% probability over Jan. 2019 to Nov. 2020. This does not imply that on any one day, 80% or any of the stocks selected will meet or exceed their breakout price. | ||||||
| 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 | 34798 |
0.62% | 13.7% | Up |
| NASDAQ | 15047.7 |
0.02% | 16.76% | Up |
| S&P 500 | 4455.48 |
0.51% | 18.62% | 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 |
NASDAQ Composite 4.79 |
NASDAQ Composite 14.53 |
S&P 500 18.62 |
| 1 Week | 3 Weeks | 13 Weeks | 26 Weeks |
|---|---|---|---|
| Uranium |
Thermal Coal |
Uranium |
Shell Companies |
| Aerospace & Defense 0 |
Aerospace & Defense 0 |
Aerospace & Defense 0 |
Aerospace & Defense 0 |
| Charts of each industry rank and performance over 12 months are available on the site | |||
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