Corey’s Feb 9 Chaotic Market Update and Stock Scan of the Day

Feb 9, 2016: 3:48 PM CST

Up, back down, up, back to a new low, and now off to a new high – that’s today’s session in a nutshell.

Let’s update our levels for the S&P 500 Index and note the big trending stocks today:

Our 1,835 SP500 target was achieved yesterday and price rallied up into the close on positive clear divergences.

However, we were welcomed with a sharp down-gap BACK to our 1,835 support target and a sudden boost up away from it again.

More swings too price back down toward, then up away from, and finally back toward 1,835 on a huge positive divergence.

Like yesterday – almost exactly at the same time – we have our big end-of-day rally up through to new highs.

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

Despite the second day of bullish price action, the strongest sectors are the Defensive names (Staples and Utilities).

Materials and Industrials are also strong while Energy – once again – is the weakest sector of the day.

Take a moment to pull the perspective up – view this morning’s “Sector Strength/Weaknesss” Post.

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

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

Owens & Minor (OMI), WellCare Health (WCG), Tenneco (TEN), American Water Works (AWK)

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

Care Cap (CCP), Transdigm Group (TDG), HCP, Royal Gold (RGLD)

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Corey Rosenbloom, CMT
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1 Comment

One Response to “Corey’s Feb 9 Chaotic Market Update and Stock Scan of the Day”

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