Nov 9 Sell Swing Market Update and Trending Stock Scan

Nov 9, 2015: 3:52 PM CST

Price extended the sell-swing (retracement) today as the reality sets in that the Fed is more likely than not to raise interest rates at their December meeting.

Let’s update our levels for the S&P 500 Index (seen here as the @ES futures):

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A lengthy short-term uptrend broke temporarily today with the breakdown away from 2,090 (@ES) after a period of lengthy short-term negative divergences into the 2,110 target.

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

Our Sector Money Flow chart shows a defensive or clear “Risk-Off” landscape as Utilities are the top performing sector in a “sea of red” (or selling pressure).

With all sectors down, the market is to be avoided or short-sold (don’t look for diamonds in the rough).

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

Plum Creek Timber (PCL), GoPro (GPRO), Apache (APA), and Isis Pharma (ISIS)

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

Priceline (PCLN), Juniper (JNPR), Wynn Resorts (WYNN), and Las Vegas Sands (LVS)

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Corey Rosenbloom, CMT
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