Intraday Sector Breadth and Trending Stock Update for March 26

Mar 26, 2014: 1:08 PM CST

With a strong mid-day downside reversal, let’s update our current Sector Breadth Chart (the message is very clear) and highlight our uptrending and downtrending stock candidate list.

Let’s start with our broader S&P 500 Sector Breadth Chart:

A quick glance shows strength (money flow) entering the Defensive Names such as Staples ($XLP), Health Care ($XLV), Utilities ($XLU) along with Energy ($XLE).

Notice that zero Materials ($XLB) stocks in the S&P 500 are positive on the session right now.

Take a moment to review my prior posts “Bearish Signals from March Sector Performance” along with “Simple Repeating Top Pattern in the S&P 500.

As for intraday trending stock candidates, let’s start with our top four candidates:

Our scan focuses on Lorillard (LO), Pepsico (PEP), Dr. Pepper/Snapple Group (DPS), and Baxter (BAX).

Finally, we’ll scan for key downtrending (down trend day) stocks active at the moment:

CME Group (CME) tops our downtrending list with a strong sell-off and is joined by Citrix Systems (CTXS), Allegion (ALLE) and big name Wynn Resorts (WYNN).

Continue focusing on the breadth of the market along with these trending candidates.

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