Breakoutwatch Weekly Summary 10/27/2023
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The newsletter has been absent for a few weeks as I have concentrated on correcting some data problems introduced by a hack of the database. I believe all stock data is now correct and watchlist filters are working again. Next week I depart for 4 weeks on a European vacation but will try to produce this newsletter remotely.
Market Summary
Macro and geopolitical concerns nearly push Nasdaq back into bear market territory
Geopolitical concerns, tough talk from Federal Reserve officials, and a rise in long-term bond yields to new 16-year highs appeared to weigh on sentiment and drive the S&P 500 Index to its biggest weekly decline in a month. The Nasdaq Composite Index fared worst among the major benchmarks and nearly moved back into bear market territory, ending the week 19.91% below its early-2022 intraday highs. Relatedly, growth stocks lagged their value counterparts. [more...]
Major Index Performance
| Dow Jones
|
| Last Close
| |
| Wk. Gain
| NAN % |
| Yr. Gain
| NAN % |
| Trend
| Down |
|
| S&P 500
|
| Last Close
| |
| Wk. Gain
| NAN % |
| Yr. Gain
| NAN % |
| Trend
| Down |
|
| NASDAQ Comp.
|
| Last Close
| |
| Wk. Gain
| NAN % |
| Yr. Gain
| NAN % |
| Trend
| Down |
|
| Russell 2000
|
| Last Close
| |
| Wk. Gain
| NAN % |
| Yr. Gain
| NAN % |
| Trend
| Down |
|
Performance by Sector
| Sector |
Wk. Change % |
Yr. Change % |
Trend |
| Consumer Discretionary |
NAN |
NAN |
Down |
| Consumer Staples |
NAN |
NAN |
Down |
| Energy |
NAN |
NAN |
Down |
| Finance |
NAN |
NAN |
Down |
| Health Care |
NAN |
NAN |
Down |
| Industrials |
NAN |
NAN |
Down |
| Technology |
NAN |
NAN |
Down |
| Materials |
NAN |
NAN |
Down |
| REIT |
NAN |
NAN |
Down |
| Telecom |
NAN |
NAN |
Down |
| Utilities |
NAN |
NAN |
Up |
Breakouts This Week Still Within 5% of Breakout Price (Limit 20 top C Score)
| Watchlist |
Symbol |
Company |
Industry |
C Score* |
% Gain |
| *C score is our assessment of a Stock's correlation to CAN SLIM principles. It combines a stock's Technical and Fundamental merits and is expressed as a percentage. |
Breakdowns within 5% of Breakdown Price
| Watchlist |
Symbol |
Company |
Industry |
C Score* |
% Loss |
There were no Breakdowns still within 5% of breakdown price this week |
| *C score is our assessment of a Stock's correlation to CAN SLIM principles. It combines a stock's Technical and Fundamental merits and is expressed as a percentage. |
Cup and Handle Chart of the Week
Aug. 16, 2023 /PRNewswire/ -- IDEAYA Biosciences, Inc. (Nasdaq: IDYA), a precision medicine oncology company committed to the discovery and development of targeted therapeutics, announced the achievement of First-Patient-In for the company-sponsored Phase 2 clinical trial evaluating darovasertib as neoadjuvant and adjuvant therapy in primary uveal melanoma (UM) patients.
