Up Again We Go Post-Fed Market Update and Stock Scan June 18

Post-Fed Day! Buyers were happy with the Federal Reserve’s statement and thus boosted the market straight up, achieving targets along the way.

The uptrend continues and bullish money flow is once again the driver of the market (in a short-squeeze).

What levels are important now above 2,100? Let’s see them!

Logically speaking, 2,100 is our simple “Key Pivot” reference level and we’ll use it in our short-term planning.

Today – like Tuesday – is developing a strong Trend Day (see our new “Trend Trader’s Perfect Pullback” Lesson Bundle) as price is strongly moving “up away from” 2,100 as expected.

We’re seeing a strong impulsive breakout from the smaller triangle pattern mentioned yesterday.

With price breaking above the 2,115 target and stretching toward 2,125, the pathway is open to trade through to all-time highs (which is exactly what the NASDAQ index did this morning).

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

It’s across-the-board bullishness as “Risk-On” Returns to the markets!

See this morning’s “Intermarket Money Flow Grid after the Fed” update for more information.

With the exception of Energy, all sectors are near the 90% or 100% Bullish level which is just about as strong as you can see.

It’s bullish domination – join the buyers or get out of their way.

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

Biomarin (BMRN), ZELTIQ (returns a second day in a row), Cempra (CEMP), and Royal Caribbean (RCL)

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

Jabil Circuit (JBL), Lumber Liquidators (LL), Ctrip.com (CTRP), and GrubHub (also back for a second day)

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

Follow Corey on Twitter: http://twitter.com/afraidtotrade

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).

Similar Posts

3 Comments

  1. I am so lucky that I am able to work using such high class web site; it’s these updates that really help me a lot to trade easily with knowing the exact happening in the market. At the moment I am already enjoying with having high class broker like OctaFX, it’s a brilliant company with daily market news and analysis service, so by using this I get all the best of chance to trade and this always lead to success for me in an all easy way!

  2. The purpose of this funding is to help out a mother and a friend. A woman has spent her life putting others before herself. Who is always out in the community with the children even in some cases saving lives of those less fortunate giving them a second chance. She has dedicated countless hours and days of her time assisting those in need without being asked, while raising a family of her own. Tammy has also been a long time activist helping those in her community, as well as across the country in such areas as homelessness, education and all around improvement of human life.

  3. Frankly speaking I am not really able to understand much
    where to go from this chart, I believe it’s pretty mixed trend and we need to
    be very certain before making any decision or else it can create big problem. I
    am trading with OctaFX broker where I get a lot of benefit especially with
    their daily market news and analysis setup, it helps me trade easily without
    much trouble at all and the best part is that it is completely free as well.

Comments are closed.