Breakoutwatch Weekly Summary 06/27/2024
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Contents
Market Summary
Stocks advance as gains appear to broaden
Stocks recorded modest gains over the shortened trading week (markets were closed Wednesday in observation of the Juneteenth holiday), helping push the S&P 500 Index to fresh all-time highs. The week also saw modest signs of a broadening and rotation in the market, with value stocks outperforming growth shares and most of the major benchmarks outperforming the technology-heavy Nasdaq Composite. Friday was a so-called triple-witching day, with roughly USD 5.5 trillion in options related to indexes, individual stocks, and exchange-traded funds set to expire, according to Bloomberg and options platform SpotGamma. [more...]
Major Index Performance
| Dow Jones | |
|---|---|
| Last Close | 39128 |
| Wk. Gain | -0.21 % |
| Yr. Gain | 4.16 % |
| Trend | Up |
|
|
| S&P 500 | |
|---|---|
| Last Close | 5478 |
| Wk. Gain | 0.2 % |
| Yr. Gain | 15.45 % |
| Trend | Up |
|
|
| NASDAQ Comp. | |
|---|---|
| Last Close | 17805 |
| Wk. Gain | 0.7 % |
| Yr. Gain | 19.71 % |
| Trend | Up |
|
|
| Russell 2000 | |
|---|---|
| Last Close | 2018 |
| Wk. Gain | 0.1 % |
| Yr. Gain | 0.25 % |
| Trend | Down |
|
|
Performance by Sector
| Sector | Wk. Change % | Yr. Change % | Trend |
|---|---|---|---|
| Consumer Discretionary | 0.92 | 3.71 | Up |
| Consumer Staples | -0.01 | 8.32 | Up |
| Energy | 0.95 | 8.37 | Up |
| Finance | -0.63 | 8.73 | Up |
| Health Care | 0.12 | 7.2 | Up |
| Industrials | -0.88 | 7.56 | Down |
| Technology | -0.46 | 20.59 | Up |
| Materials | -0.56 | 2.75 | Down |
| REIT | -0.71 | -5.37 | Up |
| Telecom | 1.76 | 18.57 | Up |
| Utilities | -0.95 | 10.24 | Down |
Breakouts This Week Still Within 5% of Breakout Price (Limit 20 top C Score)
| Watchlist | Symbol | Company | Industry | C Score* | % Gain |
|---|---|---|---|---|---|
| CWH | SMLP | Summit Midstream Partners, LP | Oil & Gas Midstream | 40.2 % | 4.2 % |
| SQZ | CACI | CACI International, Inc. | Information Technology Services | 38.9 % | 0.7 % |
| SQZ | AMAL | Amalgamated Financial Corp. | Banks - Regional | 38.8 % | 0.3 % |
| SQZ | COKE | Coca-Cola Consolidated, Inc. | Financial Data & Stock Exchanges | 38.8 % | 2.9 % |
| SQZ | MEG | Montrose Environmental Group, Inc. | Waste Management | 38.5 % | 3.8 % |
| SQZ | TPB | Turning Point Brands, Inc. | Tobacco | 38.5 % | 1.1 % |
| CWH | NWS | News Corporation | Metal Fabrication | 38.4 % | 0.7 % |
| SQZ | AORT | Artivion, Inc. | Medical Devices | 38.4 % | 3.3 % |
| SQZ | BLFS | BioLife Solutions, Inc. | Medical Instruments & Supplies | 38.3 % | 0.6 % |
| SQZ | IBRX | ImmunityBio, Inc. | Biotechnology | 38.3 % | 4 % |
| SQZ | LOCO | El Pollo Loco Holdings, Inc. | Restaurants | 38.2 % | 0.4 % |
| SQZ | NU | Nu Holdings Ltd. Class A | Banks - Regional | 38.1 % | 1.4 % |
| SQZ | SPOT | Spotify Technology S.A. O | Internet Content & Information | 38.1 % | 2.9 % |
| SQZ | MOD | Modine Manufacturing Company | Auto Parts | 38 % | 2.2 % |
| CWH | LTH | Life Time Group Holdings, Inc. | Leisure | 37.9 % | 1.1 % |
| SQZ | AIRC | Apartment Inco | REIT - Residential | 37.8 % | 0.2 % |
| SQZ | LBPH | Longboard Pharmaceuticals, Inc. | Biotechnology | 37.7 % | 2.5 % |
| DB | SYF | Synchrony Financial | Banks - Regional | 37.6 % | 1.1 % |
| SQZ | NN | NextNav Inc. | Software - Infrastructure | 37.4 % | 0.1 % |
| CWH | RYAN | Ryan Specialty Holdings, Inc. | Insurance - Specialty | 36.9 % | 0.9 % |
| *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 |
|---|---|---|---|---|---|
| SS | GATO | Gatos Silver, Inc. | Other Precious Metals & Mining | 38.1 % | -1.3 % |
| SS | NN | NextNav Inc. | Software - Infrastructure | 37.4 % | -1 % |
| SS | AX | Axos Financial, Inc. | Banks - Regional | 35.5 % | -0.2 % |
| SS | GE | GE Aerospace | Aerospace & Defense | 35.5 % | -0 % |
| SS | PVH | PVH Corp. | Apparel Manufacturing | 33.2 % | -3.3 % |
| SS | AMD | Advanced Micro Devices, Inc. | Semiconductors | 32.9 % | -1 % |
| SS | GIII | N/A | Apparel Manufacturing | 32.7 % | -3.1 % |
| SS | AFRM | Affirm Holdings, Inc. | Software - Infrastructure | 31.5 % | -1.7 % |
| SS | OBT | Orange County Bancorp, Inc. | Banks - Regional | 30.6 % | -0 % |
| SS | PEGA | Pegasystems Inc. | Software - Application | 22.2 % | -2.1 % |
| *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
There were no cup and handle stocks meeting our breakout model criteria this week.