Breakoutwatch Weekly Summary 07/13/2024
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Market Summary
Rotation benefits small-caps
Stocks moved higher in the first notably broad advance since mid-April. The Dow Jones Industrial Average, S&P 500 Index, and technology-heavy Nasdaq Composite moved to record intraday highs, but the biggest advance was notched by the small-cap Russell 2000 Index, which gained 6.00%, marking its best week since early November. As measured by various Russell indexes, value stocks also handily outperformed growth stocks. T. Rowe Price traders noted that trading volumes were light over much of the week, however, reflecting both the summer vacation season and investors waiting for the arrival of major earnings reports. [more...]
Major Index Performance
| Dow Jones
|
| Last Close
| 40001 |
| Wk. Gain
| 1.55 % |
| Yr. Gain
| 6.48 % |
| Trend
| Up |
|
| S&P 500
|
| Last Close
| 5615 |
| Wk. Gain
| 0.75 % |
| Yr. Gain
| 18.34 % |
| Trend
| Down |
|
| NASDAQ Comp.
|
| Last Close
| 18398 |
| Wk. Gain
| 0.14 % |
| Yr. Gain
| 23.69 % |
| Trend
| Down |
|
| Russell 2000
|
| Last Close
| 2148 |
| Wk. Gain
| 5.4 % |
| Yr. Gain
| 6.71 % |
| Trend
| Up |
|
Performance by Sector
| Sector |
Wk. Change % |
Yr. Change % |
Trend |
| Consumer Discretionary |
1.86 |
7.59 |
Up |
| Consumer Staples |
0.2 |
7.87 |
Down |
| Energy |
1.53 |
7.93 |
Up |
| Finance |
2.25 |
12.25 |
Up |
| Health Care |
2.97 |
8.98 |
Up |
| Industrials |
2.61 |
9.81 |
Up |
| Technology |
0.45 |
25.67 |
Up |
| Materials |
3.32 |
5.25 |
Up |
| REIT |
4.6 |
-0.67 |
Up |
| Telecom |
-2.19 |
18.93 |
Up |
| Utilities |
4.06 |
13.4 |
Up |
Breakouts This Week Still Within 5% of Breakout Price (Limit 20 top C Score)
| Watchlist |
Symbol |
Company |
Industry |
C Score* |
% Gain |
| CWH |
MMYT |
MakeMyTrip Limited |
Textile Manufacturing |
84.1 % |
1.2 % |
| SQZ |
SMCI |
Super Micro Computer, Inc. |
Utilities - Diversified |
82.3 % |
2.3 % |
| CWH |
HTBI |
HomeTrust Bancshares, Inc. |
Household & Personal Products |
79.5 % |
4.1 % |
| SQZ |
COOP |
Mr. Cooper Group Inc. |
Farm Products |
78.9 % |
1.1 % |
| SQZ |
ELF |
e.l.f. Beauty, Inc. |
Biotechnology |
76.5 % |
0.9 % |
| CWH |
WFRD |
Weatherford International plc |
Utilities - Renewable |
76.4 % |
0.4 % |
| SQZ |
TRNS |
Transcat, Inc. |
Electronics & Computer Distribution |
75.6 % |
3.8 % |
| SQZ |
VCTR |
Victory Capital Holdings, Inc. |
Packaged Foods |
75.4 % |
1.5 % |
| CWH |
AROW |
Arrow Financial Corporation |
Household & Personal Products |
74 % |
4.2 % |
| SQZ |
IHG |
Intercontinental Hotels G |
Home Improvement Retail |
73.9 % |
1.7 % |
| SQZ |
DY |
Dycom Industries, Inc. |
Electronics & Computer Distribution |
73.5 % |
2.4 % |
| SQZ |
ULBI |
Ultralife Corporation |
Utilities - Regulated Electric |
73.4 % |
1.6 % |
| SQZ |
BAH |
Booz Allen Hamilton Holding Corporation |
Semiconductors |
73.1 % |
1.6 % |
| CWH |
ROOT |
Root, Inc. |
Apparel Manufacturing |
72.8 % |
2.1 % |
| DB |
BMI |
Badger Meter, Inc. |
Biotechnology |
72.8 % |
0.6 % |
| CWH |
LNW |
Light & Wonder, Inc. |
Luxury Goods |
72.7 % |
0.1 % |
| SQZ |
ICLR |
ICON plc |
Gold |
72.5 % |
4.7 % |
| SQZ |
IDCC |
InterDigital, Inc. |
Specialty Chemicals |
72.4 % |
0.6 % |
| CWH |
MBWM |
Mercantile Bank Corporation |
Household & Personal Products |
72.1 % |
3.4 % |
| SQZ |
PGR |
Progressive Corporation (The) |
Packaged Foods |
71.9 % |
1.6 % |
| *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 |
AXON |
Axon Enterprise, Inc. |
Drug Manufacturers - General |
74.6 % |
-1.1 % |
| SS |
VRT |
Vertiv Holdings, LLC Class A |
Utilities - Regulated Gas |
66.2 % |
-4.2 % |
| SS |
CRM |
Salesforce, Inc. |
Utilities - Renewable |
55 % |
-2.1 % |
| SS |
FFWM |
First Foundation Inc. |
Household & Personal Products |
39.5 % |
-1.7 % |
| *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. |
| There were no CWH stocks meeting our breakout model criteria |
| *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.