April 8 Fed Minutes Reaction Market Update with Stock Scan

Apr 8, 2015: 2:16 PM CST

We’re seeing a Falling Range Day in the context of spiking volatility on a “Fed Minutes” Session.

Let’s dive inside action and note key levels and the trending stocks of the day:

Up, Down, Up, Down, Big Down into Big Up.  That’s what’s today’s session held for us so far.

New traders should be cautious – if trading at all – in the context of a violent, bouncing sideways range.

Let’s see what our Breadth Chart reveals about current market strength (or weakness):

Breadth is actually bullish-slanted today with the strongest sectors being the Offensive Names (Financials, Discretionary, Technology, and Materials) though a stealth strength developed in Health Care.

Our Defensive Names (Staples and Utilities) are today’s weakest sectors … which is actually bullish.

We have potential bullish trend continuation plays in the following stocks from our scan:

Mylan (MYL), Global Payments (GPN), Baidu (BIDU), and Noah Holdings (NOAH)

Potential downtrending candidates exist in stocks showing relative weakness today:

Lions Gate (LGF), Pentair (PNR), Xylem (XYL), and AT&T (T)

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Check out the details and start planning the trip today to join us in May.

Corey Rosenbloom, CMT
Afraid to Trade.com

Follow Corey on Twitter: http://twitter.com/afraidtotrade

Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).

1 Comment

One Response to “April 8 Fed Minutes Reaction Market Update with Stock Scan”

  1. Menaz Says:

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