Sept 8 Another Big Rally and Trending Stock Scan

Sep 8, 2015: 2:25 PM CST

The Consolidation after the Drop continues with another big trend day to start the holiday week.

Let’s chart the levels and possible outcomes here:

I provided the upside price pathway to members Friday, speaking in terms of a symmetrical triangle price pattern that targeted a movement up toward 1,955 to 1,960 for a minimum target.

Price already advanced toward, then exceeded, this short-term target and now we’re on “Breakout” Watch.

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While price remains above 1,960, it could trigger a bullish breakout free of the sideways triangle range.

However, a return back under 1,960 suggests the range has further to develop, which would argue for a sell-swing back toward 1,925 (especially if price breaks any time soon under 1,950’s swing low).

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

Pay close attention to the scale of the chart.  While it may look like Energy is weak today, the reality is that it’s impossible to call an 88% Breadth (88% of stocks in the sector are positive) Reading weak.

Four sectors show 100% positive (all stocks are positive) Breadth which simply confirms the power of today’s bullish rally and positive money flow back into equities (for today at least).

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

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

Teco Energy (TE), Murphy USA (MUSA), Honda Motors (HMC), and Regeneron Pharma (REGN)

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

Infinera (INFN), GrubHub Inc (GRUB), Alibaba (BABA), and Qihoo 360 Tech (QIHU)

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Corey Rosenbloom, CMT
Afraid to

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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).


2 Responses to “Sept 8 Another Big Rally and Trending Stock Scan”

  1. Discount stock broker Says:


  2. Parkas Says:

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