Breakoutwatch Weekly Summary 09/26/2024
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Market Summary
Stocks move to new highs as investors celebrate Fed rate cut
The large-cap indexes moved to record highs as investors celebrated the kickoff to what many expect to be a prolonged Federal Reserve rate-cutting cycle. The rally was also relatively broad, with the smaller-cap indexes outperforming, although they remained below previous peaks—the small-cap Russell 2000 Index, in particular, ended the week roughly 9% below the all-time high it established in November 2021. [more...]
Major Index Performance
| Dow Jones
|
| Last Close
| |
| Wk. Gain
| NAN % |
| Yr. Gain
| -100 % |
| Trend
| Up |
|
| S&P 500
|
| Last Close
| |
| Wk. Gain
| NAN % |
| Yr. Gain
| -100 % |
| Trend
| Down |
|
| NASDAQ Comp.
|
| Last Close
| |
| Wk. Gain
| -100 % |
| Yr. Gain
| -100 % |
| Trend
| Down |
|
| Russell 2000
|
| Last Close
| |
| Wk. Gain
| -100 % |
| Yr. Gain
| -100 % |
| Trend
| Up |
|
Performance by Sector
| Sector |
Wk. Change % |
Yr. Change % |
Trend |
| Consumer Discretionary |
1.2 |
12.21 |
Up |
| Consumer Staples |
0.63 |
15.12 |
Up |
| Energy |
-0.86 |
4.09 |
Up |
| Finance |
-1.56 |
18.94 |
Up |
| Health Care |
-1.79 |
12.37 |
Down |
| Industrials |
0.63 |
17.82 |
Up |
| Technology |
0.81 |
21.97 |
Up |
| Materials |
0.76 |
11.03 |
Up |
| REIT |
0.64 |
11.58 |
Up |
| Telecom |
0.47 |
23.11 |
Up |
| Utilities |
2.01 |
27.63 |
Up |
Breakouts This Week Still Within 5% of Breakout Price (Limit 20 top C Score)
| Watchlist |
Symbol |
Company |
Industry |
C Score* |
% Gain |
| SQZ |
GSHD |
Goosehead Insurance, Inc. |
Confectioners |
78.3 % |
1.8 % |
| CWH |
IBKR |
Interactive Brokers Group, Inc. |
Capital Markets |
74.1 % |
2.1 % |
| SQZ |
ESQ |
Esquire Financial Holdings, Inc. |
Banks - Regional |
70.8 % |
0.3 % |
| SQZ |
EXLS |
ExlService Holdings, Inc. |
Utilities - Regulated Electric |
67.1 % |
0.5 % |
| SQZ |
CINT |
CI&T Inc |
Utilities - Regulated Gas |
66.9 % |
2.6 % |
| CWH |
PRTH |
Priority Technology Holdings, Inc. |
Utilities - Regulated Gas |
66.4 % |
0.7 % |
| SQZ |
TNDM |
Tandem Diabetes Care, Inc. |
Medical Devices |
64.5 % |
0.4 % |
| SQZ |
RNA |
Avidity Biosciences, Inc. |
Biotechnology |
54.2 % |
2.9 % |
| SQZ |
ELVN |
Enliven Therapeutics, Inc. |
Biotechnology |
49.2 % |
5 % |
| *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 |
NGS |
Natural Gas Services Group, Inc. |
Oil & Gas Equipment & Services |
66.2 % |
-3.9 % |
| SS |
PRK |
Park National Corporation |
Banks - Regional |
66.1 % |
-2.2 % |
| SS |
RXST |
RxSight, Inc. |
Medical Devices |
64.2 % |
-3.7 % |
| SS |
ALKT |
Alkami Technology, Inc. |
Software - Application |
64 % |
-4 % |
| SS |
GERN |
Geron Corporation |
Biotechnology |
61.2 % |
-1.1 % |
| SS |
MBWM |
Mercantile Bank Corporation |
Banks - Regional |
58.9 % |
-5 % |
| SS |
BARK |
BARK, Inc. |
Footwear & Accessories |
58.2 % |
-0.6 % |
| SS |
QCOM |
QUALCOMM Inco |
Semiconductors |
58.2 % |
-2.8 % |
| SS |
TRTX |
TPG RE Finance Trust, Inc. |
REIT - Mortgage |
51.6 % |
-2.2 % |
| SS |
FSTR |
L.B. Foster Company |
Railroads |
43.1 % |
-4.1 % |
| SS |
DIBS |
1stdibs.com, Inc. |
Internet Retail |
42.7 % |
-0.7 % |
| SS |
VSTM |
Verastem, Inc. |
Biotechnology |
41.2 % |
-2.6 % |
| SS |
OLMA |
Olema Pharmaceuticals, Inc. |
Biotechnology |
38.2 % |
-4.9 % |
| *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. |
| 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.