March 31 Intraday Sector Breadth and Trending Stock Scan

Mar 31, 2014: 12:17 PM CST

What does “Sector Breadth” reveal about today’s session (and which sector should we be avoiding from the long side today?) and which stocks top our intraday up and down trending list?

Let’s start with Sector Breadth to begin today’s Mid-day Stock Market Update:

Our Intraday Sector Breadth (stocks in the S&P 500) Chart shows strength across the board… except for Energy ($XLE).

At the moment (mid-day), all stocks but two are trading higher in the Dow Jones Industrial Index (Microsoft MSFT again tops our bullish list as it extends its breakout; Exxon-Mobil XOM and Coca-Cola KO are down at the current moment).

Also, 87% of S&P 500 stocks are up on the session in a wide-arc bullish surge of money flow back into stocks.

For intraday traders hoping to ride intraday trending stocks into the close, here are four Trend Candidates:

Cigna Corp (CI), Public Services Enterprises (PEG), and CarMax Inc (KMX) are showing strong, persistent intraday uptrends along with a weaker impulse in Union Pacific (UNP).

For those aggressive traders willing to play against this instant flood of money into the stock market, here are four downtrending candidates for you:

Range Resources (RRC), Keurig Green Mountain Inc (GMCR), Williams Companies (WMB), and Zoetis Inc (ZTS) provide potential intraday downtrend continuity candidates.

As a reminder, it’s generally better to trade with the direction of money flow and intraday trends instead of against them.

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Corey Rosenbloom, CMT
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