Aug 14 Big Stock Scan and Intraday Range Update

Aug 14, 2015: 2:52 PM CST

After a volatile Wednesday, stock prices settled into a welcome trading range consolidation to end the week.

What levels are we focusing on now? Let’s see!

First, be sure to view Monday’s “Thrilling, Non-Stop, Exciting Trading Range of 2015” for context.

We’re simply seeing a continuation of this higher timeframe Trading Range structure, despite a trap.

For now, the 2,083 key pivot (today’s low) and the 2,091 S&P 500 levels are our reference levels going forward.

We’ll keep playing “Ping-Pong” between these levels and get ready for another pro-trend bullish breakout higher that could travel toward 2,100 and beyond.

Otherwise, another break under 2,085 that carries under 2,085 would set in motion another bearish pathway.

Follow along with members for more precise daily planning, analysis, and education.

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

Today’s session once again paints a strong bullish picture of Sector Breadth.

All sectors – except Energy – are above the 50% line and most are at or near the 80% Breadth level.

It’s a bullish sign that the strongest sector today is Financials followed by Industrials (then Utilities again).

Here are today’s strongest trending (intraday) names – candidates for pro-trend continuation:

Finish Line (FINL), Sysco (SYY), Habit Restaurants (HABT), and Best Buy (BBY)

Bearish downtrending candidates include the following stocks from our “weakness” scan:

Diamond Resorts (DRII), Spark (ONCE), Anheuser-Busch (BUD), and Viacom (VIAB)

Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.

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 “Aug 14 Big Stock Scan and Intraday Range Update”

  1. Anil Says:

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