Sept 17 Fed Day Market Update and Stock Scan

“There is a zero percent chance the Federal Reserve will announce a rate hike (rise) on Thursday. ZERO.”

That’s what I wrote clearly to members last night and that’s exactly what happened.

Let’s start today’s mid-day market update with the news that the Fed did not raise rates today… and probably won’t do so through the rest of 2015.

Let’s update our levels and plan the remainder of today’s session:

In-depth analysis is always provided to members of the Premium Daily Reports – I hope you’ll join and benefit.

Again, there was a zero percent chance of a rate hike this session and the Fed followed-through with expectations.

The market so far has remained unchanged following the (non-surprising) outcome except for a quick algorithmic dip and recovery after the news.

The uptrend continues from the breakout – as we’ve been expecting from the membership analysis and planning.

Receive daily updates, planning, and education by joining fellow members of the Afraid to Trade Premium Membership (before subscription prices rise).

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

While we’ve seen strong bullish money flow all week, today’s session gives us pause; the strongest sectors today are clearly the Defensive Groups of Staples, Health Care, and Utilities.

That’s not what you want to see in a strong bullish money flow environment – it suggests caution.

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:

Spirit Airlines (SAVE), Eli Lilly (LLY), United Continental (UAL), and Align Tech (ALGN)

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

Verizon (VZ), Wolverwine World Wide (WWW), Tableau (DATA), and Intuit (INTU)

Follow along with members of the Afraid to Trade Premium Membership for real-time updates and additional trade planning.

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