Big Bullish Breakout Market Update and Trending Stock Scan

Mar 30, 2015: 1:21 PM CST

If Friday’s triangle range day session (see update) was boring, today’s expected breakout is thrilling and has rewarded those who were patient, awaiting the virtually guaranteed breakout.

Let’s update our chart, highlight the impressive breakout and Trend Day, and chart the strongest stocks:

Friday’s range day session was just a spring coiling and building energy to release for today’s powerful impulse that reverses the short-term trend back to the bulls/buyers.

We’re back in the bull-market price behavior with playing against the 2,090 index level here.

Unless we see an immediate reversal lower against 2,090, then the market remains bullishly biased above 2,090.

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

Bull, bull, bull!  Did you expect anything different from Breadth?

There’s little differentiation in the main sectors – though Energy is the weakest – and the message from Breadth simply confirms the reactive, impulsive money flow back into the US Stock Market.

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

Fortune Brands (FBHS), Dynergy (DYN), Avery Dennison (AVY), and Travelers (TRV).

Potential downtrending candidates exist in stocks showing relative weakness today:

ZIP ZERO NADA – do not fight a powerful trend day!

Corey Rosenbloom, CMT
Afraid to

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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 Bullish Breakout Market Update and Trending Stock Scan”

  1. Stokes Says:

    Trading in a breakout situation can be fun and exciting, but if we know how to use it. I don’t have huge experience in this but whenever I have traded I have got good results and I must say the major contribution is all because of OctaFX broker, it has really great platform cTrader, it’s really excellent since we get the latest charts and also many up dated features, so this helps big time and we find it easier to trade on breakouts or trending markets.