Post Fed Volatile Market Update and Scan for Dec 17

Dec 17, 2015: 2:55 PM CST

Well that bullish post-Fed rally was fun while it lasted.

Today’s session so far has erased all the gains and more from the initial Fed-Rate Hike Rally yesterday.

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

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That which goes up must come down – stock prices are often no exception.

We started with a downside swing and the beginning of the day continued lower toward the 2,050 target.

From there positive divergences occurred for a bounce off the 2,050 index level – on which we’ll focus attention.

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

Higher interest rates help the Utilities Sector and it’s clearly the dominant (most bullish) sector of the day.

80% of Utility Sector stocks are positive while 90% of Dow Stocks and 85% of S&P 500 stocks are down.

This is the picture of Risk Off Defensive money flow on an individual and larger basis of money flow.

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:

Alliant Energy (LNT), Marathon Petro (MPC), FedEx (FDX), and Valero Energy (VLO)

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

Polaris (PII), BCE Inc, Rio Tinto (RIO), and Oracle (ORCL)

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Corey Rosenbloom, CMT
Afraid to Trade.com

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2 Comments

2 Responses to “Post Fed Volatile Market Update and Scan for Dec 17”

  1. Bullish Post-Fed Rally Ends on Thursday Says:

    […] By Corey Rosenbloom […]

  2. Atmaram Says:

    It is obviously fun when market behaves in this way, but unfortunately it is not something that happens regularly, so whenever this happens, we need to take full advantage. I always love to do trading whenever there is any major news releasing. Also, I get helped with OctaFX broker given their low spread of 0.2 pips for all major pairs while there is also smooth trading platform where all trading orders are executed instantly including on the news time as well.