Stellar Bullish Trend Day Update and Surging Stock Scan Dec 23

Dec 23, 2015: 3:55 PM CST

Santa Claus continues to deliver the bullish goods to the market today!

First, take a look at this morning’s update “The Santa Claus Rally has Arrived!” for more details.

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

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As I highlighted with quotes from last night’s report, we were expecting a continuation of the rally – and that’s exactly what we got.

“We’re going to play a long/bullish bounce aggressively “up away from” the 2,000 pivot. The target will be 2,045 or 2,050 on the bounce.”

We’ve exceeded our initial (first) target and now trade through the 2,060 pivot – above resistance.

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

All sectors are understandably strongly bullish during the big Trend Day.

Energy (oil) and Utilities reveal 100% of stocks positive during today’s surging session.

Our goal is always to identify and go WITH the money flow – never against it.

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:

Exxon-Mobil (XOM), Celgene (CELG), Canadian Natural (CNQ), and Westlake Chem (WLK)

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

Nike (NKE), Bed Bath & Beyond (BBBY), Extrage Space (EXR), and CME Group

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Corey Rosenbloom, CMT
Afraid to Trade.com

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2 Comments

2 Responses to “Stellar Bullish Trend Day Update and Surging Stock Scan Dec 23”

  1. Brian Says:

    Great scan. XOM seems strong at this point. Guess it’s time energy starts rewarding their investors…

  2. Glenn Says:

    It is great to see the trend been so strong, but at the same time, I am always pinned at the reversal, as with such consistent upwards trend, it is likely to see downtrend occurring any moment of time, so if we are not prepared well then we might just struggle. I am in safe zone for the moment with OctaFX broker given their outstanding service with the cash back (rebate) option which gives 50% back on all trading orders.