March 19 Fed Day Trending Stocks and Breadth Update

Mar 19, 2014: 12:38 PM CST

On today’s special “Fed Day” session, which stocks are the strongest intraday trenders (there are some strong trends today despite the flat market action) and which are sell-off candidates?

Let’s start with our big intraday uptrending list:

Intraday Uptrenders

As we’ll see from our S&P 500 Sector Breadth Chart, the broader stock market is flat ahead of the Federal Reserve’s policy announcement (where no surprise is expected).

Despite this, these four stocks are showing strong degrees of intraday trend and may continue with their “strong getting stronger” trend if indeed there are no surprises (or the market reacts bullishly to the policy announcement).

Cigna Corp (CI), First Solar (FSLR), F5 Networks (FFIV), and United Health Group (UNH) are today’s top trenders.

Pay special attention to First Solar (FSLR) and the breakout action in the stock.

Our top downtrenders – and potential downside acceleration on a bearish surprise with the Federal Reserve today – include Consolidated Edison (ED), Kohl’s Corp (KSS), Illinois Tool Works (ITW), and Joy Global (JOY).

Finally, our Sector Breadth Grid shows flat action but there’s always underlying strength and weakness:

Just like yesterday’s update, the Utilities Sector is our weakest sector for the session, despite being the strongest during the broader stock market retracement.

Our leading sectors today are the Technology ($XLK) and Health Care ($XLV) where currently 65% and 72% of stocks respectively trade higher.

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Corey Rosenbloom, CMT
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3 Comments

3 Responses to “March 19 Fed Day Trending Stocks and Breadth Update”

  1. March 20 Sector Breadth and Intraday Trending Stock Scan | Afraid to Trade.com Blog Says:

    […] to yesterday’s “Fed Day” session, we’re seeing strength in Technology and Energy but clear weakness in […]

  2. March 20 Sector Breadth and Intraday Trending Stock Scan — Trading Your Own Way Says:

    […] to yesterday’s “Fed Day” session, we’re seeing strength in Technology and Energy but clear weakness in […]

  3. March 21 Intraday Sector Breadth and Trending Stocks | Afraid to Trade.com Blog Says:

    […] intraday names’ today include Entergy Corp (ETR), CarMax (KMX), Joy Global which also topped the downtrending list from March 19 (JOY), and finally Edison International […]