Dec 31 Market Reversal Day and Stock Scan

Dec 31, 2015: 1:15 PM CST

Stocks got off to a bearish start, reversed mid-morning, and then reversed back just now.

Be safe as we trade the final day of 2015.

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

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Be sure to read the “2015 was Flat but not Boring” update – it details the S&P 500 performance for 2015.

For now, we’re still using the 2,060 area as a critical pivot point – bullish above; bearish beneath.

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

In today’s Sector Strength chart, Energy stands out as the big winner of the day with 80% of stocks positive.

All other sectors are in the red (less stocks positive than negative) on an otherwise sell session.

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:

Spirit Aerosystems (SPR), Tortoise Energy (TYG), Enterprise (EPD), and Signet Jewelers (SIG)

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

Bank of Nova Scotia (BNS), Cirrus Logic (CRUS), Lockheed Martin (LMT), and Universal Insurance (UVE)

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Corey Rosenbloom, CMT
Afraid to Trade.com

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1 Comment

One Response to “Dec 31 Market Reversal Day and Stock Scan”

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