Huge Market Reversal Bullish Surge Update Dec 4

Dec 4, 2015: 3:25 PM CST

Wow! As if the market didn’t need another reason to rally in the ongoing uptrend, today’s better than expected Jobs Report served as the catalyst for buyers to re-enter and short-sellers to cover.

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

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We were looking for any type of rally or bounce off the 2,045 support target with positive divergences.

The Jobs Report (better than expected, including prior month positive revisions) was the catalyst that ignited this reversal and bullish surge – a back-to-back Trend Day that could take us all the way to 2,100.

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

Money is flowing into every single sector and almost every single stock today… except Energy.

Note the broad market grid below along with our graph above to see the strong bullish money flow.

We will always trade WITH dominant money flow and never against it.

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:

ULTA Salon, Agnico Eagle (AEM), Philip Morris (PM), and Newmont Mining (NEM)

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

Targa Resources (TRGP), Oneok (OKE), Rackspace (RAX), and retailer Big Lots (BIG)

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Corey Rosenbloom, CMT
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1 Comment

One Response to “Huge Market Reversal Bullish Surge Update Dec 4”

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