April 8 Reversal Sector Breadth and Trending Stock Scan

Apr 8, 2014: 12:19 PM CST

With a sudden reversal off expected support in the S&P 500, let’s dig a little deeper and study sector breadth and update our potential trend-day trading stocks for the remainder of the session.

We’ll start with S&P 500 Sector Breadth:

While Utilities remain the #1 Sector so far, Energy trails closely behind.

Unlike yesterday’s “Clear Bearish” sector update, we see broader strength and most sectors (except Health Care) trading above or just under (Financials) the 50% mark (meaning 50% or more of stocks in the sector are postiive at the moment).

Let’s turn now to potential bullish trend day trading stocks from our relative strength scan:

Bullish Trend Day candidates include Estee Lauder (EL), Philip Morris Intl (PM), N-Vidia Corp (NVDA), and John Deer & Co (DE).

Bearish Trend Day trading candidates include Dr. Pepper/Snapple Group (DPS), Dow component AT&T (T), Walgreen Co (WAG), and candymaker The Hershey Company (HSY).

As always, monitor sector breadth with intraday trend and the potential for these stocks to continue their current trends, or reverse them (depending on the type of strategy you prefer as a trader).

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Corey Rosenbloom, CMT
Afraid to Trade.com

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