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.