Sept 25 Rally Update and Super Stock Scan

Sep 25, 2015: 1:43 PM CST

Yesterday’s mid-day reversal continued with a bullish rally all the way toward the 1,950 target.

Let’s update our levels and plan the remainder of today’s session:

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Here’s a quote from last night’s member strategy planning report:

“A Reversal – on clear positive divergences up away from 1,900 – sets the stage for a new potential bullish impulse higher.

Look to trade price bullishly if above 1,920 and higher – target 1,955….”

That’s precisely what occurred on the reversal from the positive divergences.

Now we see negative divergences into our resistance target ahead of a mid-day reversal lower.

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

Despite the current mid-day selling pressure, we’re seeing all sectors bullish today except Energy and especially Health Care.

There’s no major leader as the strength (bullish money flow) boosts all sectors today except three.

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:

Nike (NKE), Jabil Circuit (JBL), Dunkin’ Brands (DNKN), and NASDAQ (NDAQ)

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

Insmed (INSM), DSW Inc, Alnylam Pharma (ALNY), and Sucampo Pharma (SCMP)

Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.

Afraid to Trade Premium Content and Membership

Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.

Corey Rosenbloom, CMT
Afraid to Trade.com

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Corey’s book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).

1 Comment

One Response to “Sept 25 Rally Update and Super Stock Scan”

  1. Michael Says:

    It’s always obvious that the reversal was always likely to come, but now we need to be careful in finding out whether it’s just temporary reversal or there is any trend been set. I always love to do long term trading and thanks to OctaFX broker, I am able to do it perfectly with their swap free account option, it’s really cool to have such benefits where I don’t have to pay any charges for overnight trade and that really helps me working well.