Big Breakout Surge Stock Market Update and Scan Oct 5

Oct 5, 2015: 1:56 PM CST

The bullish stock market breakout and new short-squeeze rally continues!

Let’s update our levels and plan the remainder of today’s session:

In-depth analysis is always provided to members of the Premium Daily Reports – I hope you’ll join and benefit.

Here’s a quote from last night’s member strategy planning report:

“…trade the impulsive short-squeeze bullish breakout that could trigger above 1,945 and 1,952 [in the @ES futures]”

“Logic be damned as stock prices trade higher and those of us adhering to the ‘Broader Narrative’ can profit from this ongoing and multi-year new normal or new reality….”

This bullish rally shouldn’t be a surprise, given recent history and the positive signals from momentum and internals, among other signals discussed for members.

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

Up, up, and away for all sectors today.  All sectors show strong bullish money flow, though the weakest of today’s sectors is the Health Care group.

We’re buying shares as the market trades higher and completely avoiding any mention of the short (bearish) side of the market with this picture of bullish strength.

Here’s a top-level or full-perspective view of today’s S&P 500 stock performance (courtesy of FinViz.com).

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

John Deere and Company (DE), Transcanada (TRP), Cisco Cystems (CSCO), and General Electric (GE)

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

Zero, zip, zilch, nada. NO stock should be sold short today (unless you’re willing to take the risk).

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

Afraid to Trade Premium Content and Membership

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 “Big Breakout Surge Stock Market Update and Scan Oct 5”

  1. Martees Says:

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