Nonstop Bullish March Update and Stock Scan July 14

Jul 14, 2016: 2:21 PM CST

Buyers continued to short-squeeze the market through to new all-time highs!

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

We’ve seen numerous bullish upside gaps result in bullish trend days lately as the short-squeezed bullish rally continues.

Today we saw a surprise break through the 2,160 level that extended the S&P 500 toward 2,170.

Despite an intraday pullback – another one like yesterday – buyers stepped back in to close the market at the highs.

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

Everything is bullish today… except Utilities.

In fact, our Defensive Groups are the weakest sectors of the day while all Bullish Groups are strong and getting stronger.

Here’s a top-level or full-perspective view of today’s S&P 500 stock performance (courtesy of FinViz.com).

Here are today’s strongest trending (intraday) names – candidates for pro-trend continuation:

CREE, EBAY, Goldman Sachs (GS), and Pfizer (PFE)

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

Acadia (ACHC), CubeSmart (CUBE), Sally Beauty (SBH), and Molson Coors (TAP)

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Corey Rosenbloom, CMT
Afraid to Trade.com

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2 Comments

2 Responses to “Nonstop Bullish March Update and Stock Scan July 14”

  1. Suntaz Says:

    I believe it’s obvious that there is going to be some switch in trend very soon, so it’s really good chance for us to get in, I am grateful to my broker for making me comfortable and that’s through OctaFX broker using their swap free account, it’s really cool and I never have to worry about paying overnight charges either, so that’s why I am able to perform so nicely and it keeps me comfortable and relaxed with doing things.

  2. Hiran Riyon Says:

    It will be amazing to see what happens next since that’s what matters most. I mostly prefer to go short with all-time high situations across different instruments, I am lucky that I work with TradeWiseFX company which helps me working nicely to do with their swap free account feature, it’s really excellent! http://www.tradewisefx.com/