September 15 Stock Scan and Market Update

Sep 15, 2014: 1:05 PM CST

We’re still charting the key levels on the S&P 500 along with trending stocks of the day.

Let’s start today’s update with the Breadth Signal Chart and then Pinpoint Trending Stocks of the Day:

With today’s slight sell-session moving forward, we see the logical picture in Breadth.

Strength (for now) is concentrated in the Utilities sector along with Staples and Energy while the traditionally offensive/bullish sectors (like Financials, Discretionary, and Technology) are the weakest performers of the day (along with Health Care).

While not perfect, it is a confirmation of the bearish or defensive money flow of the session.

Potential bullish trend day continuation (buy retracements) stocks include the following:

Molson Coors (TAP), Altria (MO), Airgas Inc (ARG), and Allstate (ALL).

Bearish “intraday reversal” or downtrend continuity stocks include these candidates:

Facebook (FB), Netflix (NFLX), Micron (MU), and (AMZN).

Corey Rosenbloom, CMT
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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).

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