For the month of August, the Dow closed up +2.2%, the S&P +3%, while the Nasdaq outperformed, up +5.7% – its best August return since 2000.
The Summer months of essentially aimless trading — where major indexes churned between a record hit in late January and a 2018 low hit shortly thereafter have now built what should be a base of support going forward.
When the S&P 500 broke above that resistance and closed at an all-time high on the previous Friday — the first in a four-day-long streak of records — it not only represented a new peak, but the end of a lengthy stint of essentially sideways trading.
This most recent market breakout from that multi-month base and this week’s follow-through is clearly a bullish signal.
ALL AUGUST BUYS FROM MY PERSONAL PORTFOLIO SERVICE
| SYM | PRICE | BUY PRICE | BUY DATE | MAX LOSS GUIDE | P/L % |
| QDEL | $76.88 | $75.49 | 8/30/2018 12:30 |
$69.45 | +1.84% |
| GLOB | $64.88 | $60.07 | 8/24/2018 13:25 |
$55.26 | +8.01% |
| QNST | $15.17 | $15.15 | 8/23/2018 11:34 |
$13.94 | +0.13% |
| LULU | $154.93 | $136.42 | 8/20/2018 14:49 |
$125.51 | +13.57% |
| WDAY | $154.54 | $141.42 | 8/15/2018 10:15 |
$130.11 | +9.28% |
| OMF | $36.70 | $35.45 | 8/2/2018 12:30 |
$32.61 | +3.53% |
| NSP | $119.85 | $102.00 | 8/1/2018 10:33 |
$93.84 | +17.50% |
– Prices as of Friday’s (8/31) close.
I ran my routine stock screens over the 3-day weekend and added 2 new stocks to our watch list.
We now have 17 stocks which we will be watching for the next buyable breakout – see here.