Second Rising Range Market Update and Super Stock Scan March 3

Mar 3, 2016: 3:33 PM CST

Today – so far – is a “Repeat Day” (for the S&P 500) to yesterday.  It’s a “bullish rising range” day.

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

We were still bullish as price moves “up away from” the 1,970 pivot and now we see the index trading into the 1,990 level, just shy of the Round Number 2,000 target level.

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

Like yesterday, we’re seeing persistently bullish, yet not dominant, money flow from our sector grid.

The strongest sector again is Energy followed by the bullish or offensive (green) groups above.

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:

Tumi Holdings (TUMI), Tata Motors (TTM), Qlik Tech (QLIK), and International Paper (IP)

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

Kroger (KR), Heartware (HTWR), Herbalife (HLF), and McDonald’s (MCD)

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Corey Rosenbloom, CMT
Afraid to Trade.com

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