Breakoutwatch Weekly Summary 10/15/22

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Weekly Commentary
NASDAQ Closes Below Support The major indexes each had another losing week with the NASDAQ leading the trend lower with a 1% loss. The NASDAQ suffered from a 3.2% loss in information technology. Friday's close left the index just below the June support level at 10542. The next support level is 10519 not seen since October of 2020. The index has effectively given up 2 years of gains. Thursday's CPI report showed inflation at an 8.2% level year-on-year indicating that further interest rate increases are likely as the fight against inflation continues. J. P. Morgan CEO Jamie Diamond expects we will be in a recession within 6-9 months and that the markets could fall a further 20% if there is a hard landing.

Chart of the Week
There is no Chart of the Week this week.

New Features this Week
No new features this week

Strategy Suggestions
Our latest strategy suggestions are here.

Breakouts Summary by Watchlist for Week Beginning 10/10/22
List	Breakouts	Avg. Gain
CwH		0
SQZ	3	2.25
HTF		0
HSB		0
DB		0

Breakouts Gaining at Least 5% for Week Beginning 10/10/22
Brkout Date	Symbol	Base	Squeeze	Brkout Price	Brkout Day Close	RS Rank^*	Last Close	Current % off BOP	Gain at Intraday High
^*RS Rank on day before breakout.

CwH Stocks Likely to Close above BoP at Next Session*
Symbol	Company	Industry	RS Rank	Last Close	BoP	% off BoP
IRDM	Iridium Communications Inc	Telecom Services	94	47.75	48.69	98.07
MGI	Moneygram International, Inc.	Credit Services	92	10.55	10.60	99.53
THS	Treehouse Foods, Inc.	Packaged Foods	93	46.27	46.70	99.08
*These stocks were selected using our CWH price breakout model. This model selects stocks likely to close above the breakout price at the next session. When backtested over the three years beginning January 2019 until October 28, 2021, 80% of the stocks selected closed above their breakout price. This does not mean that on any day, 80% of the stocks selected will breakout, but it is the expectation over an extended period of time.

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Top Rated Cup and Handle Stocks as of Monday October 10, 2022
Symbol	BO Price	BO Vol.	Company	Industry	RS Rank	Last Close
SBS	11.43	4,672,496	Companhia de saneamento Basico Do Estado De Sao Pa	Utilities - Regulated Water	97	11.14
TCDA	12.54	1,175,141	Tricida - Inc.	Drug Manufacturers - Specialty & Generic	97	11.80
MOD	17.52	545,778	Modine Manufacturing Company	Auto Parts	96	13.39
ARCO	7.92	1,243,734	Arcos Dorados Holdings Inc.	Restaurants	94	7.46
NOV	19.27	4,570,342	NOV Inc.	Oil & Gas Equipment & Services	90	18.00
MLCO	8.18	7,092,648	Melco Resorts & Entertainment Limited	Resorts & Casinos	88	7.50
TBPH	11.00	861,228	Theravance Biopharma - Inc.	Biotechnology	85	9.83
AGI	8.17	5,458,241	Alamos Gold Inc.	Gold	81	7.59
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	29202.9	-0.32%	-19.64%	Down
NASDAQ	10542.1	-1.04%	-32.62%	Down
S&P 500	3612.39	-0.75%	-24.21%	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
Dow Jones	S&P 500 -6.32	Dow Jones -14.88	Dow Jones -19.64

Best Performing Industry
1 Week	3 Weeks	13 Weeks	26 Weeks
Thermal Coal	Thermal Coal	Thermal Coal	Industrial Distribution

Most Improved Industry (by change in technical rank²)
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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