June 10 Range Trading Stock Scan and Intraday Update

Jun 10, 2014: 1:10 PM CST

Today’s session gave us something a little different than the usual “straight up” price action of the last week.

The session has developed a Range Day at a clear support reference boundary.

Let’s note the intraday action, sector breadth, and of course our trending stock candidates for the day:

In yesterday’s update I highlighted the same rectangle reference boundary level near the 1,948 level that that “magnet” level continues to be today’s support reference line as well.

The market is “Range Neutral” between the 1,947 and 1,950 region (where it’s traded most of the session) and otherwise breakout bullish above 1,950 or breakdown bearish under the 1,947 (and especially 1,945) levels.

Sector Breadth shows a slightly mixed to bullish picture:

The strongest sectors at mid-day are clearly the Technology and Materials sector.  We’re also seeing strength across the board in all sectors except Industrials and formerly popular (defensive) Utilities.

Just like yesterday’s range day, we can concentrate our attention on Bullish AND Bearish candidates:

Coors Brewing (TAP), Monster Beverage (MNST), Altria Group (MO), and Facebook (FB).

Our bearish potential trend day stock trading candidates include the following names:

Cognizant Tech (CTSH), Cabot Oil and Gas (COG), Bard (BCR), and Range Resources (RRC).

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Corey Rosenbloom, CMT
Afraid to Trade.com

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4 Comments

4 Responses to “June 10 Range Trading Stock Scan and Intraday Update”

  1. June 11 Breakdown Sell Day Stock Scan and Update | Afraid to Trade.com Blog Says:

    […] I mentioned in yesterday’s mid-day update, any breakdown of the “Magnet” area near 1,947 would trigger a short-sell bias and […]

  2. Downside Action on the Stock Market Says:

    […] I mentioned in yesterday’s mid-day update, any breakdown of the “Magnet” area near 1,947 would trigger a short-sell bias and we’re […]

  3. June 12 Sell Swing Continues Midday Stock Scan and Update | Afraid to Trade.com Blog Says:

    […] like I mentioned in Tuesday’s mid-day update, any breakdown of the “Magnet” area near 1,947 would trigger a short-sell […]

  4. Normalcy Returns to the Market Says:

    […] like I mentioned in Tuesday’s mid-day update, any breakdown of the “Magnet” area near 1,947 would trigger a short-sell […]