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Here is your Bonus Idea with links to the full Top Ten:

Adobe, $ADBE, comes into the week moving up at the 100 day SMA. It has been rising off of a low in June. That exceeded 113% retracement of the last leg higher. The Bollinger Bands® are open to the upside to allow a move. The RSI is rising in the bullish zone with the MACD positive and moving higher. There is resistance at 239 and 245 then 255 and 263 before 274 and 283.50. Support sits at 224 and 214. Short interest is moderate at 4.9%. The stock does not pay a dividend.

The company is expected to report earnings next on September 10th. The August options chain has large open interest spread from 250 down below 190 on the put side and is biggest at 220 below and 240 above on the call side. The September chain has biggest open interest below at 220 then 200 on the put side but with very large open interest at 280 above. On the call side open interest is biggest at 260. In the October chain there is biggest open interest at the 200 put strike. Open interest is biggest at 230 but spread from 240 to 250 above on the call side.

Adobe, $ADBE

Trade Idea 1: Buy the stock on a move over 241 with a stop at 233.

Trade Idea 2: Buy the stock on a move over 241 and add an August 235/220 Put Spread ($7.65) while selling the September 275 Call ($7.70).

Trade Idea 3: Buy the August/September 250 Call Calendar ($8.35) while selling the September 200 Puts ($5.00).

Trade Idea 4: Buy the October 210/250/280 Call Spread Risk Reversal ($3.50).

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After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday, which with July options expiry in the rearview mirror and heading deep into earnings season, saw equity markets seeming to be a bit unsettled as the high correlation between the indexes slightly unraveled.

Elsewhere, look for Gold to continue the downtrend but with Crude Oil reversing to the upside. The US Dollar Index looks to continue to hold at the top of the 15 month range while US Treasuries continue to threaten to break down through support in consolidation. The Shanghai Composite looks to continue the confirmation of a reversal to a downtrend while Emerging Markets hang on by a thread in their uptrend.

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Aflac, $AFL, comes into the week over short term resistance. It has an RSI in the bullish zone and the MACD positive and rising. Look for continuation to participate…

Five Below, $FIVE, comes into the week approaching resistance. It has an RSI in the bullish zone and the MACD about to cross to positive. Look for a push over resistance to participate…

Jazz Pharmaceuticals, $JAZZ, comes into the week approaching resistance. It has an RSI in the bullish zone and the MACD positive. Look for a push over resistance to participate…

Murphy USA, $MUSA, comes into the week approaching resistance. It has an RSI and a bullish zone and a MACD positive. Look for a push over resistance to participate…

Prudential Financial, $PRU, comes into the week moving over resistance. It has an RSI in the bullish zone with the MACD positive. Look for continuation to participate…

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After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday, which with July options expiry in the rearview mirror and heading deep into earnings season, saw equity markets seeming to be a bit unsettled as the high correlation between the indexes slightly unraveled.

Elsewhere, look for Gold to continue the downtrend but with Crude Oil reversing to the upside. The US Dollar Index looks to continue to hold at the top of the 15 month range while US Treasuries continue to threaten to break down through support in consolidation. The Shanghai Composite looks to continue the confirmation of a reversal to a downtrend while Emerging Markets hang on by a thread in their uptrend.

Last week, the review of the macro market indicators saw, heading into the start of earnings season, equity markets seemed to have settled into a consolidation at their all-time highs. Elsewhere, looked for Gold ($GLD) to continue the short term downtrend along with Crude Oil ($USO) after its Dead Cat Bounce. The US Dollar Index ($DXY) looked to continue flirt with a break of the 15 month range and a transition into an uptrend while US Treasuries ($TLT) threatened to break down through support in consolidation. The Shanghai Composite ($ASHR) looked to continue the consolidation in a slow drifting range while Emerging Markets ($EEM) consolidated in their uptrend.

The Volatility Index ($VXX) looked to continue in the normal zone keeping at least a slight tailwind behind equities. The charts of the $SPY, the $QQQ looked ready to start a drift to the upside and possibly overtake the $IWM as leaders again. They all continued to look strong on the longer timeframe consolidating at the highs. On the shorter timeframe the SPY made a higher high, a first step, and the QQQ still had some work left in the short term bounce to prove the pullback was over. The IWM, however, started to feel the pinch of the negative momentum divergence in its consolidation.

The week played out with Gold continuing lower to support while Crude Oil revived the cat and rose to a 1 month high. The US Dollar once again failed to break to new highs and fell to support while Treasuries continued to hold just over the May lows. The Shanghai Composite fell to an 11 month low while Emerging Markets closed at a 2½ month low.

Volatility held in the normal range until a spike up Friday that sold back intraday, remaining in the normal zone. As a result equities stagnated early in the week with the QQQ leading lower Thursday and SPY following Friday. This resulted in the QQQ closing at a 5 week low while the SPY and IWM held in their consolidation ranges. What does this mean for the coming week? Let’s look at some charts.

The SPY came into the week cracking the symmetrical triangle to the upside and at a higher high. It held there in a tight range through Thursday and gapped down at the open Friday to fall back into the triangle and under both the 20 and 50 day SMA’s. The RSI is holding at the midline in the bullish zone and the MACD rolling over and positive.

The weekly chart shows another narrow candle closing above the 300% extension of the retracement of the 2022 drop. The RSI is holding in the bullish zone with the MACD avoiding a roll over and positive. There is support lower at 742 and 740 then 733 and 728 before 724 and 718. There is resistance above at 748.50 and 751.50 then 755.50 and 760. Uptrend.

With July options expiry in the rearview mirror and heading deep into earnings season, equity markets seem to be a bit unsettled as the high correlation between the indexes slightly unraveled. Elsewhere, look for Gold to continue the downtrend but with Crude Oil reversing to the upside. The US Dollar Index looks to continue to hold at the top of the 15 month range while US Treasuries continue to threaten to break down through support in consolidation. The Shanghai Composite looks to continue the confirmation of a reversal to a downtrend while Emerging Markets hang on by a thread in their uptrend.

The Volatility Index looks to continue in the normal zone after a threat of a move higher keeping at least a slight tailwind behind equities. They could use that as the charts of the SPY, the QQQ and the IWM are showing cracks on the shorter timeframe. The QQQ is the worst followed by the IWM with the SPY holding the strongest. They all continue to look strong on the longer timeframe consolidating at the highs. Use this information as you prepare for the coming week and trad’em well.

ADP, $ADP, comes into the week at resistance in a short consolidation at the 38.2% retracement of the last leg lower. This is also over the 200 day SMA. It has an RSI rising in the bullish zone with the MACD positive and climbing. There is resistance at 245 and 249.50 then 252.50 and 260 before 267 and 271 with a gap to fill to 279.50 above. Support is at 237 and 234 followed by 226.50. Short interest is moderate at 3.7%. The stock pays a dividend with an annual yield of 2.81% and has traded ex-dividend since June 12th.

The company is expected to report earnings next on July 29th. The July options chain shows biggest open interest at the 230 put strike and on the call side at 250. In the July 31 expiry options chain the implied move between now and July 31st, covering the earnings report, is about $15.50. In the August chain open interest is spread from the 230 down to 195. On the call side it is focused from 240 to 260, biggest at 250. Finally in the September chain open interest is biggest at the 240 put and much smaller but biggest at the 250 call.

Trade Idea 1: Buy the stock on a move over 245 with a stop at 235.

Trade Idea 2: Buy the stock on a move over 245 and add a July 31 Expiry 235/225 Put Spread ($3.80) while also selling the September 270 Call ($2.80).

Trade Idea 3: Buy the July 31 Expiry/August 260 Call Calendar ($3.20) while selling the July 31 Expiry 225 Put ($1.70).

Trade Idea 4: Buy the September 220/250/270 Call Spread Risk Reversal ($3.90).

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After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday, which heading into the start of earnings season, saw equity markets to have settled into a consolidation at their all-time highs.

Elsewhere, look for Gold to continue the short term downtrend along with Crude Oil after its Dead Cat Bounce. The US Dollar Index looks to continue flirt with a break of the 15 month range and transition into an uptrend while US Treasuries threaten to break down through support in consolidation. The Shanghai Composite looks to continue the consolidation in a slow drifting range while Emerging Markets consolidate in their uptrend.

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Air Products, $APD, comes into the week reversing higher. It has an RSI in the bullish zone and a MACD positive. Look for continuation to participate…

Iron Mountain, $IRM, comes into the week rounding up out of a pullback. It has an RSI approaching the midline and a MACD curling to cross up but negative. Look for continuation to participate…

LPL Financial, $LPLA, comes into the week rising over resistance. It has an RSI in the bullish zone with the MACD positive and climbing. Look for continuation to participate…

NVIDIA, $NVDA, comes into the week rising off of a pullback to the 200 day SMA. It has an RSI in the bullish zone with the MACD rising and negative. Look for continuation to participate…

PayPal, $PYPL, comes into the week pressing against resistance. It has an RSI in the bullish zone and a MACD positive and climbing. Look for a pushover resistance to participate…

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Don’t miss out on the Holiday Sale. Get an annual subscription for 30% off. Subscribe here.

After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday, which heading into the start of earnings season, saw equity markets to have settled into a consolidation at their all-time highs.

Elsewhere, look for Gold to continue the short term downtrend along with Crude Oil after its Dead Cat Bounce. The US Dollar Index looks to continue flirt with a break of the 15 month range and transition into an uptrend while US Treasuries threaten to break down through support in consolidation. The Shanghai Composite looks to continue the consolidation in a slow drifting range while Emerging Markets consolidate in their uptrend.

Last week, the review of the macro market indicators saw, with the month of June and its non-farm payroll report in the rearview mirror, the high correlation of the equity market indexes was starting to disconnect. Elsewhere, looked for Gold ($GLD) to continue a short term downtrend along with Crude Oil ($USO) extending its downtrend. The US Dollar Index ($DXY) looked to continue flirt with a break of the 15 month range and morphing into an uptrend while US Treasuries ($TLT) continued to hold over support in consolidation. The Shanghai Composite ($ASHR) looked to continue the consolidation in a slow drifting range higher while Emerging Markets ($EEM) paused and digested after a long run of new highs in their uptrend.

The Volatility Index ($VXX) looked to continue in the normal zone keeping at least a slight tailwind behind equities. Despite this the broad indexes had gone nowhere on the week. The charts of the $SPY, the $QQQ and the $IWM continued to look strong on the longer timeframe with the IWM leading and the SPY and QQQ consolidating. On the shorter timeframe the SPY and the QQQ still had some work left in the short term bounce to prove the pullback was over. Making a new all-time high, or at least a move over the June high, with higher momentum readings would solidify that. The IWM, however, was looking strong, after making a new all-time high Tuesday.

The week played out with Gold consolidating under the short term moving average while Crude Oil met resistance at the cross of its short term and long term moving averages in a bounce and fell back. The US Dollar held in a tight range around its short term moving average while Treasuries fell through support and consolidated at 6 week lows. The Shanghai Composite bounced after a fall through support to end at its long term moving average while Emerging Markets consolidated over support.

The Volatility Index ticked down early in the week but spiked briefly intraday Wednesday before resuming the move lower to end the week at the June low. This pinned equities early in the week but hey rose to new highs Thursday and Friday. This resulted in the SPY, the QQQ and the IWM also improving early but ending the week surviving a midweek hiccup lower. What does this mean for the coming week? Let’s look at some charts.

The SPY came into the week in a symmetrical triangle just above the 20 day SMA. It rose to the upper rail Monday and got knocked back through Wednesday, but only to the 20 day SMA. Thursday it moved higher cracking the triangle and Friday continued to close at a higher high. The RSI is rising off the midline in the bullish zone and the MACD rising and positive.

The weekly chart shows another narrow candle closing above the 300% extension of the retracement of the 2022 drop. The RSI is holding in the bullish zone with the MACD avoiding a roll over and positive. There is support lower at 751.50 and 748.50 followed by 742 and 740 then 733 and 728. There is resistance above at 755.50 and 760. Uptrend.

Heading into the start of earnings season, equity markets seem to have settled into a consolidation at their all-time highs. Elsewhere, look for Gold to continue the short term downtrend along with Crude Oil after its Dead Cat Bounce. The US Dollar Index looks to continue flirt with a break of the 15 month range and transition into an uptrend while US Treasuries threaten to break down through support in consolidation. The Shanghai Composite looks to continue the consolidation in a slow drifting range while Emerging Markets consolidate in their uptrend.

The Volatility Index looks to continue in the normal zone keeping at least a slight tailwind behind equities. The charts of the SPY, the QQQ look ready to start a drift to the upside and possibly overtake the IWM as leaders again. They all continue to look strong on the longer timeframe consolidating at the highs. On the shorter timeframe the SPY made a higher high, a first step, and the QQQ still has some work left in the short term bounce to prove the pullback is over. Making a new all-time high, or at least a move over the June high, with higher momentum readings would solidify that. The IWM, however, possibly starting to feel the pinch of the negative momentum divergence in its consolidation. Use this information as you prepare for the coming week and trad’em well.

Here is your Bonus Idea with links to the full Top Ten:

The Bank of New York Mellon, $BNY, comes into the week approaching resistance. It moved up last week off of the 20 day SMA. It has a RSI in the bullish zone with the MACD positive after resetting lower. There is no resistance above 148. Support comes at 143.50 and 139.50. Short interest is low at 1.5%. The stock pays a dividend with an annual yield of 1.45% and has traded ex-dividend since April 27th.

The company is expected to report earnings next the morning of July 15th. The July options chain shows biggest open interest at both the 145 and 140 strikes on the put side and at the 140 and 150 strikes on the call side.  The August chain has biggest open interest at the 130 strike put and the 155 strike call. The September chain as biggest open interest at the 120 then 115 strike puts and on the call side at 155 then 150 and 140.

The Bank of New York Mellon, $BNY

Trade Idea 1: Buy the stock on a move over 148 with a stop at 143.

Trade Idea 2: Buy the stock on a move over 148 and add a July 145/140 Put Spread ($2.40) while also selling the September 160 Calls ($1.95).

Trade Idea 3: Buy the July/August 150 Call Calendar ($3.45) while selling the July 140 Puts ($1.50).

Trade Idea 4: Buy the September 135/150/165 Call Spread Risk Reversal ($1.80).

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After reviewing over 1,000 charts, I have found some good setups for the week.  These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday, which with the month of June and its non-farm payroll report in the rearview mirror, saw the high correlation of the equity market indexes may be starting to disconnect.

Elsewhere, look for Gold to continue a short term downtrend along with Crude Oil extending its downtrend. The US Dollar Index looks to continue flirt with a break of the 15 month range and morphing into an uptrend while US Treasuries continue to hold over support in consolidation. The Shanghai Composite looks to continue the consolidation in a slow drifting range higher while Emerging Markets pause and digest after a long run of new highs in their uptrend.

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

American Express, $AXP, comes into the week breaking resistance. It has an RSI in the bullish zone and a MACD positive. Look for continuation to participate…

eBay, $EBAY, comes into the week rounding up out of a pullback. It has an RSI rising in the bullish zone and a MACD positive.  Look for continuation to participate…

Merck, $MRK, comes into the week at resistance. It has an RSI in the bullish zone and a MACD positive. Look for a push over resistance to participate…

Microsoft, $MSFT, comes into the week at short term resistance. It has an RSI at the midline with the MACD crossed up and negative. Look for a push over resistance to participate…

Sherwin-Williams, $SHW, comes into the moving above resistance. It has an RSI in the bullish zone with the MACD positive. Look for continuation to participate…

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If you like what you see sign up for more ideas and deeper analysis using the Get Premium button above.   

After reviewing over 1,000 charts, I have found some good setups for the week.  These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday, which with the month of June and its non-farm payroll report in the rearview mirror, saw the high correlation of the equity market indexes may be starting to disconnect.

Elsewhere, look for Gold to continue a short term downtrend along with Crude Oil extending its downtrend. The US Dollar Index looks to continue flirt with a break of the 15 month range and morphing into an uptrend while US Treasuries continue to hold over support in consolidation. The Shanghai Composite looks to continue the consolidation in a slow drifting range higher while Emerging Markets pause and digest after a long run of new highs in their uptrend.

Last week, the review of the macro market indicators saw, with just 2 trading days left in the month of June, equity markets were settling into a consolidation zone for the large caps as money rotated into the flying small caps. Elsewhere, looked for Gold ($GLD) to continue a short term downtrend while Crude Oil ($USO) joined with its own short term downtrend. The US Dollar Index ($DXY) looked to continue higher testing a break of the 15 month range and morphing into an uptrend while US Treasuries ($TLT) continued to hold over support in consolidation. The Shanghai Composite ($ASHR) looked to continue the consolidation in a slow drifting range higher while Emerging Markets ($EEM) paused after a long run of new highs in their uptrend.

The Volatility Index ($VXX) looked to continue in the normal zone keeping at least a slight tailwind behind equities. The charts of the $SPY, the $QQQ and the $IWM continued to look strong on the longer timeframe with the IWM leading and the SPY and QQQ consolidating. On the shorter timeframe the SPY and the QQQ still had some work left in the short term bounce to prove the pullback was over. Making a new all-time high with higher momentum readings would solidify that. The IWM, however, was looking strong, after a new all-time high both Thursday and Friday.

The week played out with Gold finding support and showing a bounce Thursday while Crude Oil continued to move lower. The US Dollar pulled back from its recent high while Treasuries fell back near to bottom of the consolidation range. The Shanghai Composite managed a small bounce off of its long term moving average while Emerging Markets continued to consolidate at a higher low.

The Volatility Index fell back all week ending near the lows of the year. This relieved pressure on equities and they rose early in the week with the SPY continuing through Wednesday but the IWM and QQQ stalling and seeing late week profit taking. The SPY joined them Thursday, short of the June high. The QQQ is narrowing a consolidation range while the IWM holds near record highs. What does this mean for the coming week? Let’s look at some charts.

The SPY came into the week about 3.5% off its high and consolidating in a symmetrical triangle. It set the bottom rail of the triangle Monday and then rose Tuesday and Wednesday. It briefly touched the top Thursday before reversing lower to close just above the 20 day SMA.The RSI is level at the midline in the bullish zone and the MACD falling and about to turn negative after failing to cross up. Downside risk remains with the momentum divergence drawing another lower high, for now.

The weekly chart shows a narrow inside candle closing at the 300% extension of the retracement of the 2022 drop. The RSI is drifting lower in the bullish zone with the MACD rolling over and positive. There is support lower at 742 and 740 then 733 and 728 before 724 and 718. There is resistance above at 748.50 and 751.50 then 755.50 and 760. Uptrend.

With the month of June and its non-farm payroll report in the rearview mirror, the high correlation of the equity market indexes may be starting to disconnect. Elsewhere, look for Gold to continue a short term downtrend along with Crude Oil extending its downtrend. The US Dollar Index looks to continue flirt with a break of the 15 month range and morphing into an uptrend while US Treasuries continue to hold over support in consolidation. The Shanghai Composite looks to continue the consolidation in a slow drifting range higher while Emerging Markets pause and digest after a long run of new highs in their uptrend.

The Volatility Index looks to continue in the normal zone keeping at least a slight tailwind behind equities. Despite this the broad indexes have gone nowhere on the week. The charts of the SPY, the QQQ and the IWM continue to look strong on the longer timeframe with the IWM leading and the SPY and QQQ consolidating. On the shorter timeframe the SPY and the QQQ still have some work left in the short term bounce to prove the pullback is over. Making a new all-time high, or at least a move over the June high, with higher momentum readings would solidify that. The IWM, however, is looking strong, after making a new all-time high Tuesday. Use this information as you prepare for the coming week and trad’em well.

Amgen, $AMGN, comes into the week approaching resistance. It is back over its 100 day SMA as well with the Bollinger Bands® pointing higher. It has an RSI rising in the bullish zone with the MACD positive and moving higher. There is resistance at 360 and 364 then 372 and 380 before 385 and 388. Support is at 356 and 351.50 before 345. Short interest is low at 2.3%. The stock pays a dividend with an annual yield of 2.81% and has traded ex-dividend since May 15th.

The company is expected to report earnings next on August 3rd. The July options chain shows biggest open interest at the 325 and 305 strike puts and at the 375 strike call. In the August chain open interest is biggest at 300 on the put side and 310 on the call side. Finally, in the September chain open interest is biggest at the 330 put and the 350 call.

Amgen, $AMGN

Trade Idea 1: Buy the stock on a move over 360 with a stop at 350.

Trade Idea 2: Buy the stock on a move over 360 and add a July 355/345 Put Spread ($5.21) while selling the August 390 Call ($5.00).

Trade Idea 3: Buy the July/August 375 Call Calendar ($8.28) while also selling the August 330 Puts ($6.15).

Trade Idea 4: Buy the August 330/365/390 Call Spread Risk Reversal ($4.35).

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After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday, which with just 2 trading days left in the month of June, saw equity markets settling into a consolidation zone for the large caps as money rotates into the flying small caps.

Elsewhere, look for Gold to continue a short term downtrend while Crude Oil joins with its own short term downtrend. The US Dollar Index looks to continue higher testing a break of the 15 month range and morphing into an uptrend while US Treasuries continue to hold over support in consolidation. The Shanghai Composite looks to continue the consolidation in a slow drifting range higher while Emerging Markets pause after a long run of new highs in their uptrend.

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Alcoa, $AA, comes into the week bottoming into a possible reversal. It has an RSI deep in the bearish zone and a MACD negative. Look for continuation higher to participate…

CrowdStrike, $CRWD, comes into the week at resistance. It has an RSI steady in the bullish zone with the MACD positive. Look for an extension from resistance higher to participate…

Datadog, $DDOG, comes into the week at resistance. It has an RSI rising in the bullish zone and a MACD positive. Look for a continuation above resistance to participate…

JB Hunt Transportation, $JBHT, comes into the week rounding up out of a pullback. It has an RSI in the bullish zone and a MACD positive. Look for continuation to participate…

PayPal, $PYPL, comes into the week breaking resistance. It has an RSI approaching the bullish zone with the MACD negative. Look for continuation to participate…

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Don’t miss out on the early Summer Sale. Get an annual subscription for 30% off. Subscribe here.

After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday, which with just 2 trading days left in the month of June, saw equity markets settling into a consolidation zone for the large caps as money rotates into the flying small caps.

Elsewhere, look for Gold to continue a short term downtrend while Crude Oil joins with its own short term downtrend. The US Dollar Index looks to continue higher testing a break of the 15 month range and morphing into an uptrend while US Treasuries continue to hold over support in consolidation. The Shanghai Composite looks to continue the consolidation in a slow drifting range higher while Emerging Markets pause after a long run of new highs in their uptrend.

Last week, the review of the macro market indicators saw, with Kevin Warsh’s first FOMC meeting and June options expiration both in the rearview mirror, equity markets appeared to have weathered the uncertainty and at or approaching all-time highs. Elsewhere, looked for Gold ($GLD) to continue a short term downtrend while Crude Oil ($USO) confirmed its own short term downtrend. The US Dollar Index ($DXY) looked to continue higher breaking the 13 month range and morphing into an uptrend while US Treasuries ($TLT) continued to hold over support in consolidation. The Shanghai Composite ($ASHR) looked to continue the consolidation in a slow drifting range higher while Emerging Markets ($EEM) looked ready to test new highs in their uptrend.

The Volatility Index ($VXX) looked to continue in the normal zone keeping a tailwind behind equities. The charts of the $SPY, the $QQQ and the $IWM continued to look extremely strong on the longer timeframe holding over support at the highs. On the shorter timeframe the SPY and the QQQ still had some work left in the short term bounce to prove the pullback was over. Making a new all-time high with higher momentum readings would solidify that. The IWM, however, was looking strong, consolidating after a new all-time high Monday.

The week played out with Gold continuing lower, dipping below $4000/oz before finding some support while Crude Oil continued lower ending near the pre-war price. The US Dollar met resistance after poking over the long consolidation range and fell back while Treasuries rose to a 3 month high midweek before profit taking. The Shanghai Composite started the week at a 1 month high before dropping to end at support while Emerging Markets started the week at an all-time high before a 5% gap lower and held there the rest of the week.

The Volatility Index ticked up early and teased a jump into the 20s all week without following through. This put a bit of pressure on equities and the large cap indexes moved lower Tuesday and drifted lower all week. The IWM however made new all-time highs as money rotated. This resulted in the SPY and the QQQ falling back near the early June lows. What does this mean for the coming week? Let’s look at some charts.

The SPY came into the week at the 20 day SMA and less than 2% from the all-time high. It held there Monday and then gapped down Tuesday, settling at the 50 day SMA. It held there through Thursday and then gapped down Friday below it and attempted to recover most of the day. It ended the week about 3.5% off its high. The RSI is leveling under the midline in the bullish zone and the MACD falling and about to turn negative. Downside risk remains with the momentum divergence shifting to a lower high after a lower low.

The weekly chart shows a long red candle closing at a 2 month weekly low as it continues to rotate around that 300% extension of the retracement of the 2022 drop. The RSI is falling in the bullish zone with the MACD rolling over and positive. There is support lower at 728 then 724 and 718 before 715 and 710. There is resistance above at 733 followed by 742 and 748.50 then 751.50 and 760. Uptrend.

With just 2 trading days left in the month of June, equity markets may be settling into a consolidation zone for the large caps as money rotates into the flying small caps. Elsewhere, look for Gold to continue a short term downtrend while Crude Oil joins with its own short term downtrend. The US Dollar Index looks to continue higher testing a break of the 15 month range and morphing into an uptrend while US Treasuries continue to hold over support in consolidation. The Shanghai Composite looks to continue the consolidation in a slow drifting range higher while Emerging Markets pause after a long run of new highs in their uptrend.

The Volatility Index looks to continue in the normal zone keeping at least a slight tailwind behind equities. The charts of the SPY, the QQQ and the IWM continue to look strong on the longer timeframe with the IWM leading and the SPY and QQQ consolidating. On the shorter timeframe the SPY and the QQQ still have some work left in the short term bounce to prove the pullback is over. Making a new all-time high with higher momentum readings would solidify that. The IWM, however, is looking strong, after a new all-time high both Thursday and Friday. Use this information as you prepare for the coming week and trad’em well.

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Deere, $DE, comes into the week at resistance. It has been rising in a trend for six days and pushed the Bollinger Bands® to open higher. It has an RSI on the edge of a move into the bullish zone with the MACD positive and rising. There is resistance at 596 and 605 then 613 and 619 before 632 and 647 followed by 665. Support sits at 585 and 573. Short interest is low at 2%. The stock pays a dividend with an annual yield of 1.10% and will begin trading ex-dividend June 30th.

The company is expected to report next on August 20th. The July options chain shows biggest open interest at the 550 strike. On the call side it is big from 600 to 630. The August chain is just getting going without open interest. The September chain has biggest open interest at the 530 put strike and at the 660 call strike.

Trade Idea 1: Enter long on a move over 596 with a stop at 573.

Trade Idea 2: Enter long on a move over 596 and add a July 580/560 Put Spread ($8.20) while selling the August 660 Call ($9.20).

Trade Idea 3: Buy the July/August 630 Call Calendar ($13.30) and sell the July 560 Put ($7.00).

Trade Idea 4: Buy the September 540/600/640 Call Spread Risk Reversal ($3.50).

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After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday, which with Kevin Warsh’s first FOMC meeting and June options expiration both in the rearview mirror, noted equity markets appeared to have weathered the uncertainty and at or approaching all-time highs.

Elsewhere, look for Gold to continue a short term downtrend while Crude Oil confirms its own short term downtrend. The US Dollar Index looks to continue higher breaking the 13 month range and morphing into an uptrend while US Treasuries continue to hold over support in consolidation. The Shanghai Composite looks to continue the consolidation in a slow drifting range higher while Emerging Markets look ready to test new highs in their uptrend.

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Affirm, $AFRM, comes into the week consolidating under resistance. It has an RSI in the bullish zone with the MACD positive period look for a push over resistance to participate…

Caterpillar, $CAT, comes into the week at an all-time high. It has an RSI in the bullish zone and a MACD positive. Look for continuation to participate…

DoorDash, $DASH, comes into the week pushing up off of support. It has an RSI entering the bullish zone with the MACD positive period look for continuation to participate…

Eaton, $ETN, comes into the week at resistance. It has an RSI moving into the bullish zone with the MACD positive. Look for a pushover resistance to participate…

Palo Alto Networks, $PANW, comes into the week at resistance. It has an RSI in the bullish zone and the MACD positive. Look for continued push higher to participate…

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After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday, which with Kevin Warsh’s first FOMC meeting and June options expiration both in the rearview mirror, noted equity markets appeared to have weathered the uncertainty and at or approaching all-time highs.

Elsewhere, look for Gold to continue a short term downtrend while Crude Oil confirms its own short term downtrend. The US Dollar Index looks to continue higher breaking the 13 month range and morphing into an uptrend while US Treasuries continue to hold over support in consolidation. The Shanghai Composite looks to continue the consolidation in a slow drifting range higher while Emerging Markets look ready to test new highs in their uptrend.

The Volatility Index looks to continue in the normal zone keeping a tailwind behind equities. The charts of the SPY, the QQQ and the IWM continue to look extremely strong on the longer timeframe holding over support at the highs. On the shorter timeframe the SPY and the QQQ still have some work left in the short term bounce to prove the pullback is over. Making a new all-time high with higher momentum readings would solidify that. The IWM, however, is looking strong, consolidating after a new all-time high Monday. Use this information as you prepare for the coming week and trad’em well.

Last week, the review of the macro market indicators saw, heading into the FOMC meeting and June options expiration, equity markets appeared to have stopped the damage with small caps leading at all-time highs. Elsewhere, looked for Gold ($GLD) to continue a short term downtrend while Crude Oil ($USO) settled under $90/bbl, near support and a change of character to a downtrend. The US Dollar Index ($DXY) looked to drift lower near the top of the range while US Treasuries ($TLT) continued to hold over support in consolidation after avoiding a shift in character. The Shanghai Composite ($ASHR) looked to continue the short term trend to the downside while Emerging Markets ($EEM) looked to recover from the pull back in their uptrend.

The Volatility Index ($VXX) looked to continue lower in the normal zone, after a pop to test the recent range, giving a bit of a tailwind to equities. The charts of the $SPY, the $QQQ and the $IWM continued to look extremely strong on the longer timeframe after the reset out of overbought conditions. On the shorter timeframe the SPY and the QQQ still had some work left in the short term bounce to prove the pullback was over. The IWM, however, was looking strong, with an all-time high to end the week.

The week played out with Gold bouncing off support but failing at a lower high while Crude Oil broke lower and ran to it’s long term moving average. The US Dollar snapped back and peeked over long term resistance while Treasuries continued the move higher off support. The Shanghai Composite moved higher off its long term moving average while Emerging Markets ran up to the retest the all-time highs.

Volatility moved slightly lower on the week after a spike following the FOMC meeting. Equity markets showed early strength gapping higher Monday in this environment and the IWM making a new all-time high. They all drifted lower from there though closing the gap after the FOMC press conference and holding or rising Friday to end slightly higher on the week. What does this mean for the coming week? Let’s look at some charts.

SPY Daily, $SPY

The SPY came into the week at the underside of the 20 day SMA with more work left to declare the pullback dead. It gapped up Monday and closed the gap through Wednesday following the FOMC press conference before an inside day Thursday left it at the 20 day SMA at the close for the week. The RSI is holding at the midline in the bullish zone and the MACD leveling and positive. Downside risk remains with the momentum divergence shifting to what may turn out to be a lower high after a lower low.

The weekly chart shows last week’s Hammer candle confirmed as a reversal with a move higher off the 300% extension of the retracement of the 2022 drop. The confirmation on the longer chart suggests any weakness on the shorter may be short term. The RSI is level in the bullish zone with the MACD level and positive. There is support lower at 742 followed by 733 and 728 then 724 and 718 before 715 and 710. There is resistance above at 748.50 then 751.50 and 760. Uptrend.

SPY Weekly, $SPY

With Kevin Warsh’s first FOMC meeting and June options expiration both in the rearview mirror, equity markets appear to have weathered the uncertainty and at or approaching all-time highs. Elsewhere, look for Gold to continue a short term downtrend while Crude Oil confirms its own short term downtrend. The US Dollar Index looks to continue higher breaking the 13 month range and morphing into an uptrend while US Treasuries continue to hold over support in consolidation. The Shanghai Composite looks to continue the consolidation in a slow drifting range higher while Emerging Markets look ready to test new highs in their uptrend.

The Volatility Index looks to continue in the normal zone keeping a tailwind behind equities. The charts of the SPY, the QQQ and the IWM continue to look extremely strong on the longer timeframe holding over support at the highs. On the shorter timeframe the SPY and the QQQ still have some work left in the short term bounce to prove the pullback is over. Making a new all-time high with higher momentum readings would solidify that. The IWM, however, is looking strong, consolidating after a new all-time high Monday. Use this information as you prepare for the coming week and trad’em well.

Join the Premium Users and you can view the Full Version with 20 detailed charts and analysis: Macro Week in Review/Preview June 19, 2026

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FedEx, $FDX, comes into the week piercing over resistance. The move Friday broke higher but fell back below that resistance slightly at the end of the day. The Bollinger Bands® continued to point higher. It has an RSI in the bullish zone with the MACD positive and kinking to move higher. There is resistance at 338.50 and 342. Support lower is at 332.50 and 325. Short interest is low at 1.7%. The stock pays a dividend with an annual yield of 1.44% and will trade ex-dividend beginning June 22nd.

The company is expected to report earnings next on June 23rd. The June options chain shows biggest open interest at 350 on the put side and at the 330 strike on the call side. In the July chain the biggest open interest below is at 300 but it is large at 370 on the put side as well. On the call side it is biggest at 430 and then 370. In the September chain open interest is biggest at 330 below on the put side and at 420 above on the call side.

FedEx, Ticker: $FDX

Trade Idea 1: Buy the stock on a move over 343 with a stop at 330.

Trade Idea 2: Buy the stock on a move over 343 and add a July 330/300 Put Spread ($10.15) while also selling the September 380 Calls ($9.65).

Trade Idea 3: Buy the July/September 360 Call Calendar ($9.35) and sell the July 310 Puts ($6.10).

Trade Idea 4: Buy the September 300/350/380 Call Spread Risk Reversal ($2.90).

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After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which heading into the FOMC meeting and June options expiration, saw equity markets appearing to have stopped the damage with small caps leading at all-time highs.

Elsewhere, look for Gold to continue a short term downtrend while Crude Oil settles under $90/bbl, near support and a change of character to a downtrend. The US Dollar Index looks to drift lower near the top of the range while US Treasuries continue to hold over support in consolidation after avoiding a shift in character. The Shanghai Composite looks to continue the short term trend to the downside while Emerging Markets look to recover from the pull back in their uptrend.

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Ally Financial, $ALLY, comes into the week at resistance. It has an RSI rising in the bullish zone with the MACD turning positive. Look for a push over resistance to participate…

Amgen, $AMGN, comes into the week rounding up out of a pullback. It has a RSI rising in the bullish zone and the MACD positive. Look for continuation to participate…

GE Aerospace, $GE, comes into the week breaking above resistance. It has an RSI in the bullish zone and a MACD positive and rising. Look for continuation to participate…

Intel, $INTC, comes into the week at resistance. It has an RSI rising in the bullish zone and a MACD positive and curling up. Look for a push over resistance to participate…

JP Morgan Chase, $JPM, comes into the week pushing over resistance. It has an RSI rising in the bullish zone with the MACD positive. Look for continuation to participate…

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Don’t miss out on the Memorial Day Sale. Get an annual subscription for 30% off. Subscribe here.

After reviewing over 1,000 charts, I have found some good setups for the week. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which heading into the FOMC meeting and June options expiration, saw equity markets appearing to have stopped the damage with small caps leading at all-time highs.

Elsewhere, look for Gold to continue a short term downtrend while Crude Oil settles under $90/bbl, near support and a change of character to a downtrend. The US Dollar Index looks to drift lower near the top of the range while US Treasuries continue to hold over support in consolidation after avoiding a shift in character. The Shanghai Composite looks to continue the short term trend to the downside while Emerging Markets look to recover from the pull back in their uptrend.