Stellar Reversal Market Update and Stock Scan Dec 9

Dec 9, 2015: 2:33 PM CST

That was a BIG reversal!

Stocks initially traded higher this morning, only to reverse powerfully lower mid-day.

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

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We’re still in the context of a Sideways Trading Range on the higher timeframe.

See this morning’s post about the S&P 500 Key Pivot Levels for more information.

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

In the context of strong selling pressure, only the Basic Materials sector is positive (above 50%) today.

Next is Utilities and Energy while all other sectors are clearly underwater (under 50%).

It suggests bearish money flow and a defensive posture today.

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:

Dupont (DD), Dow Chemical (DOW), WYNN Resorts, and Urban Outfitters (URBN)

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

Electronic Arts (EA), Lululemon (LULU), NetApp (NTAP), and Whirlpool (WHR)

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Corey Rosenbloom, CMT
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One Response to “Stellar Reversal Market Update and Stock Scan Dec 9”

  1. Big Reversal on Wednesday Says:

    […] By Corey Rosenbloom […]