Holiday Range Stock Scan and Nov 25 Market Update

Nov 25, 2015: 2:05 PM CST

As we slide happily into the Thanksgiving Holiday (and “Black Friday”), the stock market is pausing at the highs.

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

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We were neutral into the known resistance level (from last night’s planning report) and so far that was the correct strategy.

Price has remained “trapped” between the 2,094 and 2,090 index levels in a consolidating triangle.

Look to trade any breakout and until then, keep playing our famous “Ping Pong” Tactic.

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

In today’s session, we’re not seeing many breakout names, though the consumer sectors are doing well.

Consumer Discretionary and Consumer Staples are the strongest sectors while Materials and Utilities are the weakest.

In today’s choppy index action, it’s perhaps not surprising at all to see this type of mixed action on the sector level.

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:

Hain Celestial (HAIN), CST Brands, Rackspace (RAX), and Tesla (TSLA)

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

China Mobile (CHL), BHP Billiton, Shopify Inc (SHOP), and Rio Tinto (RIO)

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Corey Rosenbloom, CMT
Afraid to Trade.com

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1 Comment

One Response to “Holiday Range Stock Scan and Nov 25 Market Update”

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