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

GE Aerospace, $GE, comes into the week pushing over resistance. Price has been riding the upper of the Bollinger Bands® as it has moved higher. It has an RSI rising in the bullish zone with the MACD positive and climbing. There is resistance at 326.50 and 329.50 before 338 and 346.50. Support lower is that 317 and 308.50. Short interest is low at 1.4%.  The stock pays dividend with an annual yield of just 0.58% and has traded ex-dividend since March 9th.

The company is expected to report earnings on July 16th. The June call chain has biggest open interest at the 300 strike on the put side and then at 310. On the call side it is biggest at 320 and then 350. In the July chain open interest is spread from 290 down to 240 on the put side and is focused at 300 on the call side but also big at 320 and 340. Finally, in the August chain open interest is just getting started and is very low on the put side. On the call side it has accumulated some size at both the 320 and 390 strikes.

GE Aerospace, $GE

Trade Idea 1: Buy the stock on a move over 326 with a stop at 315.

Trade Idea 2: Buy the stock on a move over 326 and add a June 315/300 Put Spread ($5.55) while also selling the July 360 Call ($5.75).

Trade Idea 3: Buy the June/July 350 Call Calendar ($7.08) while also selling the July 290 Puts ($5.60).

Trade Idea 4: Buy the August 290/330/360 Call Spread Risk Reversal ($3.10).

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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 May in the books and heading into a non-farm payroll week, saw equities continue to show strength, printing more new all-time highs.

Elsewhere, look for Gold to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil bounces around in tightening consolidation around $100/bbl but near a change of character to a downtrend. The US Dollar Index looks to continue to drift higher in broad consolidation while US Treasuries continue to test support in consolidation after avoiding a shift in character. The Shanghai Composite looks to continue digestion in the short term uptrend while Emerging Markets make new highs in their uptrend.

The Volatility Index looks to continue lower in the normal zone, giving a tailwind to equities. The charts of the SPY, the QQQ and the IWM continue to look extremely strong on the longer timeframe with a 9th positive week for the SPY. On the shorter timeframe the SPY, the QQQ and the IWM also look very strong, with all printing all-time highs to start the week and then again Thursday. The SPY and QQQ ended with a 3rd record while the IWM was just short of joining them. Use this information as you prepare for the coming week and trad’em well.

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

Affirm, $AFRM

Affirm, $AFRM, comes into the week rising above consolidation. It has an RSI in the bullish zone and the MACD positive and crossed up. Look for continuation to participate…

Dexcom, $DXCM

Dexcom, $DXCM, comes into the week approaching resistance. It has an RSI in the bullish zone and a MACD positive period look for a pushover resistance to participate…

Gilead Sciences, $GILD

Gilead Sciences, $GILD, comes into the week approaching resistance. It has an RSI at the edge of the bullish zone with the MACD about to turn positive. Look for a push over resistance to participate…

Old Dominion Freight Lines, $ODFL

Old Dominion Freight Lines, $ODFL, comes into the week approaching resistance. It has an RSI in the bullish zone and a MACD positive period look for a push over resistance to participate…

UPS, $UPS

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

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If you like what you see sign up for more ideas and deeper analysis.   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 with the month of May in the books and heading into a non-farm payroll week, saw equities continue to show strength, printing more new all-time highs.

Elsewhere, look for Gold to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil bounces around in tightening consolidation around $100/bbl but near a change of character to a downtrend. The US Dollar Index looks to continue to drift higher in broad consolidation while US Treasuries continue to test support in consolidation after avoiding a shift in character. The Shanghai Composite looks to continue digestion in the short term uptrend while Emerging Markets make new highs in their uptrend.

The Volatility Index looks to continue lower in the normal zone, giving a tailwind to equities. The charts of the SPY, the QQQ and the IWM continue to look extremely strong on the longer timeframe with a 9th positive week for the SPY. On the shorter timeframe the SPY, the QQQ and the IWM also look very strong, with all printing all-time highs to start the week and then again Thursday. The SPY and QQQ ended with a 3rd record while the IWM was just short of joining them. 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 unofficial start of summer, equities continued to show strength, regaining their swagger following a stumble to start the week. Elsewhere looked for Gold ($GLD) to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil ($USO) bounced around in tightening consolidation around $100/bbl. The US Dollar Index ($DXY) looked to continue to drift higher in broad consolidation while US Treasuries ($TLT) continued to test support and a possible continuation of their downtrend. The Shanghai Composite ($ASHR) looked to continue digestion in the short term uptrend while Emerging Markets ($EEM) digested the new highs in their uptrend.

The Volatility Index ($VXX) looked to continue lower in the normal zone, giving a tailwind to equities. The charts of the $SPY, the $QQQ and the $IWM continued to look extremely strong on the longer timeframe with a 8th positive week for the SPY. On the shorter timeframe the SPY, the QQQ and the IWM also looked very strong, retesting all-time highs after working off some of the overheated momentum levels.

The week played out with Gold drifting lower in consolidation to the long term moving average and bouncing while Crude Oil dropped back to a 6 week low. The US Dollar moved slightly lower in a tight range while Treasuries moved back into the consolidation zone negating a breakdown. The Shanghai Composite drifted lower on the edge of a downtrend while Emerging Markets made a series of new all-time highs after a gap up.

Volatility continued to tick lower, closing at a 4½ month low. This removed any pressure on equities and they rallied to new highs. This resulted in the SPY and the QQQ printing multiple new all-time highs including one to end the week Friday. What does this mean for the coming week? Let’s look at some charts.

SPY Daily, $SPY

The SPY came into the week just a stone’s throw from the all-time high. It corrected that with a new all-time high Tuesday and then paused Wednesday. Thursday saw another move higher and a new all-time high and it followed it up Friday ending at another all-time high. The RSI is moving up into overbought territory in the bullish zone and the MACD curling to cross up and positive.

The weekly chart shows the price continuing above the 300% extension of the retracement of the 2022 drop extending the streak to 9 positive weeks in a row. The RSI is rising in the bullish zone with the MACD rising and positive. There is support lower at 751.50 and 748.50 then 742 and 733 before 728 and 724. There is resistance above 758. Uptrend.

SPY Weekly, $SPY

With the month of May in the books and heading into a non-farm payroll week, equities continue to show strength, printing more new all-time highs. Elsewhere, look for Gold to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil bounces around in tightening consolidation around $100/bbl but near a change of character to a downtrend. The US Dollar Index looks to continue to drift higher in broad consolidation while US Treasuries continue to test support in consolidation after avoiding a shift in character. The Shanghai Composite looks to continue digestion in the short term uptrend while Emerging Markets make new highs in their uptrend.

The Volatility Index looks to continue lower in the normal zone, giving a tailwind to equities. The charts of the SPY, the QQQ and the IWM continue to look extremely strong on the longer timeframe with a 9th positive week for the SPY. On the shorter timeframe the SPY, the QQQ and the IWM also look very strong, with all printing all-time highs to start the week and then again Thursday. The SPY and QQQ ended with a 3rd record while the IWM was just short of joining them. 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:

JP Morgan Chase, JPM, comes into the week rounding higher out of a pullback to a higher low. It is reclaiming the 200 day SMA with the movement Friday as it rises. The RSI bottomed at the edge of the bullish zone and is now rising again with the MACD negative but about to cross up and into positive territory. There is resistance at 308.50 and 312 followed by 315 and 320 before 323 and 329.50 then the all-time high at 335.87. Support lower comes at 304 and 300 then 295. Short interest is low under 1%. The stock pays a dividend with an annual yield of 1.96% and we’ll trade ex-dividend beginning July 6th.

The company is expected to report earnings next on the morning of July 13th before the open. Open interest in the June option chain is biggest at the 270 put strike. On the call side it is biggest at the 320 strike. In the July chain the biggest open interest appears at the 285 and 265 strikes on the put side. It builds from 300 to a peak at 340 on the call side. Finally in the August chain, the biggest open interest is at the 300 strike then the 20 strike on the put side. On the call side it is biggest at the 320 strike.

JP Morgan Chase, Ticker : $JPM

Trade Idea 1: Buy the stock on a move over 308.50 with a stop at 298.50.

Trade Idea 2: Buy the stock on a move over 308.50 and add a June 300/285 Put Spread ($3.56) while selling the July 330 Call ($3.45).

Trade Idea 3: Buy the June/July 320 Call Calendar ($4.24) while selling the June 295 Put ($3.25).

Trade Idea 4: Buy the August 280/310/340 Call Spread Risk Reversal ($4.85).

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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 unofficial start of summer, saw equities continue to show strength, regaining their swagger following a stumble to start the week.

Elsewhere, look for Gold to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil bounces around in tightening consolidation around $100/bbl. The US Dollar Index looks to continue to drift higher in broad consolidation while US Treasuries continue to test support and a possible continuation of their downtrend. The Shanghai Composite looks to continue digestion in the short term uptrend while Emerging Markets digest the new highs in their uptrend.

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

Alcoa, $AA, comes into the week pushing higher out of a consolidation. It has an RSI rising in the bullish zone and the MACD flipping to positive. Look for continuation to participate…

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

Fedex, $FDX, comes into the week approaching resistance. It has an RSI in the bullish zone and a macd positive and moving higher. Look for a push over resistance to participate…

Fifth Third, $FITB, comes into the week rounding higher out of a pullback. It has an RSI rising in the bullish zone with the MACD about to turn positive period look for continuation to participate…

Johnson & Johnson, $JNJ, comes into the week rounding higher out of a pullback. It has an RSI rising into the bullish zone with the MACD about to turn 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 unofficial start of summer, saw equities continue to show strength, regaining their swagger following a stumble to start the week.

Elsewhere, look for Gold to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil bounces around in tightening consolidation around $100/bbl. The US Dollar Index looks to continue to drift higher in broad consolidation while US Treasuries continue to test support and a possible continuation of their downtrend. The Shanghai Composite looks to continue digestion in the short term uptrend while Emerging Markets digest the new highs in their uptrend.

Last week, the review of the macro market indicators saw, with the May options expiration in the rearview mirror and heading into the last week before the long weekend and unofficial start of summer, equities continued to act strong, tacking on more new all-time highs but failing to close out the week at highs. This ended the streak of Friday all-time high closes at four. Elsewhere, looked for Gold ($GLD) to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil ($USO) bounced around in broad consolidation over $100/bbl near the top of the range. The US Dollar Index ($DXY) looked to continue to higher in broad consolidation while US Treasuries ($TLT) continued to test support and a possible continuation of their downtrend.

The Shanghai Composite ($ASHR) looked to continue a short term uptrend and new 11 year highs while Emerging Markets ($EEM) were poised to digest the new highs in their uptrend. The Volatility Index ($VXX) looked to continue in the normal zone removing all the pressure on equities. The charts of the $SPY, the $QQQ and the $IWM continued to look extremely strong on the longer timeframe with a 7th positive week for the SPY. On the shorter timeframe the SPY, the QQQ and the IWM also looked very strong but with overheated momentum starting to reset lower and prices digesting to end the week.

The week played out with Gold falling under support and consolidating while Crude Oil fell back from a lower high, tightening the range. The US Dollar consolidated the move higher the prior week until resuming higher Friday while Treasuries fell back to a 2½ year low before reversing. The Shanghai Composite fell back and consolidated while Emerging Markets held at a retest of the February high and reversed back up.

The Volatility Index opened higher Monday but fell back all week, ending at a nearly 4 month low. This knocked stocks lower early in the week but they recovered to finish up on the week. This resulted in the SPY, the QQQ and the IWM all closing ack in on their all-time high prints by Friday’s close. What does this mean for the coming week? Let’s look at some charts.

SPY Daily, $SPY

The SPY came into the week after a small pullback to end the streak of Friday all-time high closes at 4. It opened lower Monday and continued down Tuesday. A reversal started Wednesday and it continued through Friday, ending a stone’s throw from the all-time high. The RSI is moving up to the edge of overbought territory in the bullish zone and the MACD flat and positive.

The weekly chart shows the price continuing above the 300% extension of the retracement of the 2022 drop at 741.50 ending with 8 positive weeks in a row. The RSI is rising in the bullish zone with the MACD rising and positive. There is support lower at 741 and 735 then 728 and 724 before 718 and 715. There is resistance above at 748.20 and 749.50. Uptrend.

SPY Weekly, $SPY

Heading into the unofficial start of summer, equities continue to show strength, regaining their swagger following a stumble to start the week. Elsewhere, look for Gold to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil bounces around in tightening consolidation around $100/bbl. The US Dollar Index looks to continue to drift higher in broad consolidation while US Treasuries continue to test support and a possible continuation of their downtrend. The Shanghai Composite looks to continue digestion in the short term uptrend while Emerging Markets digest the new highs in their uptrend.

The Volatility Index looks to continue lower in the normal zone, giving a tailwind to equities. The charts of the SPY, the QQQ and the IWM continue to look extremely strong on the longer timeframe with a 8th positive week for the SPY. On the shorter timeframe the SPY, the QQQ and the IWM also look very strong, retesting all-time highs after working off some of the but overheated momentum levels. 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:

Bristol-Myers Squibb, $BMY, comes into the week rounding up out of a pullback below the 100 day SMA. It has an RSI clinging to the lower edge of the bullish zone as it tries to rise higher with the MACD negative but curling to cross up to positive. There is resistance at 57.50 and 60 before 60.50 and 62. Support lower sits at 56 and 54.50 then 54. Short interest is low at 1.5%. The stock please the dividend with an annual yield of 4.42% and has traded ex dividend since April 2nd.

The company is expected to report earnings next July 30th. The June options chain has the biggest open interest at the 52.5 put strike then the 55 put. On the call side it is biggest by far at the 62.50 call strike. In the July chain open interest as biggest at the 52.50 put and on the call side at the 57.50 and 62.50 call strikes. Finally, in the August chain, open interest is just getting started and light on the put side.  On the call side it is biggest at the 60 strike.

Trade Idea 1: Enter long on move over 57.25 with a stop at 55.25.

Trade Idea 2: Enter long on move over 57.25 and add a June 55 Put (98 cents) while selling an August 62.50 Call (99 cents).

Trade Idea 3: Buy the June/July 60 Call Calendar (65 cents) while selling the June 52.50 Put (35 cents).

Trade Idea 4: Buy the August 52.50/60/65 Call Spread Risk Reversal (11 cents).

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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 May options expiration in the rearview mirror and heading into the last week before the long weekend and unofficial start of summer, equities continue to act strong, tacking on more new all-time highs but failing to close out the week at highs. This ends the streak of Friday all-time high closes at four.

Elsewhere, look for Gold to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil bounces around in broad consolidation over $100/bbl near the top of the range. The US Dollar Index looks to continue to higher in broad consolidation while US Treasuries continue to test support and a possible continuation of their downtrend. The Shanghai Composite looks to continue a short term uptrend new 11 year highs while Emerging Markets digest the new highs in their uptrend.

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

Interactive Brokers, $IBKR, comes into the week at resistance. It has an RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…

Knight-Swift Transportation, $KNX, 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…

Monster Beverage, $MNST, comes into the week testing resistance. It has an RSI in the bullish zone with a MACD positive. Look for a push over resistance to participate…

Royal Bank of Canada, $RY, comes into the week at an all-time high. It has an RSI in the bullish zone with the MACD positive. Look for continuation to participate…

Exxon Mobil, $XOM, comes into the week pushing through resistance after a pullback. It has an RSI entering the bullish zone with the MACD negative. Look for continuation to participate…

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If you like what you see sign up for more ideas and deeper analysis using this Get Premium link.   

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 May options expiration in the rearview mirror and heading into the last week before the long weekend and unofficial start of summer, equities continue to act strong, tacking on more new all-time highs but failing to close out the week at highs. This ends the streak of Friday all-time high closes at four.

Elsewhere, look for Gold to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil bounces around in broad consolidation over $100/bbl near the top of the range. The US Dollar Index looks to continue to higher in broad consolidation while US Treasuries continue to test support and a possible continuation of their downtrend. The Shanghai Composite looks to continue a short term uptrend new 11 year highs while Emerging Markets digest the new highs in their uptrend.

Last week, the review of the macro market indicators saw, with the bulk of the 1st Quarter earnings in the rearview mirror and heading into next week’s May options expiration, equities continued to act strong, tacking on more new all-time highs for the fourth week in a row. Elsewhere, looked for Gold ($GLD) to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil ($USO) bounced around in broad consolidation under $100/bbl. The US Dollar Index ($DXY) looked to continue to drift lower in consolidation while US Treasuries ($TLT) continued to hold over 16 month support like nothing is happening.

The Shanghai Composite ($ASHR) looked to continue a short term uptrend closing in on the 2026 top and a new 11 year high while Emerging Markets ($EEM) pushed to new highs in their uptrend. The Volatility Index ($VXX) looked to continue in the normal zone removing all the pressure on equities. The charts of the $SPY, the $QQQ and the $IWM continued to look extremely strong on the longer timeframe with a 6th positive week moving to new highs. On the shorter timeframe the SPY, the QQQ and the IWM also looked very strong but with overheated momentum and might need a pause.

The week played out with Gold moving closer to calling it a downtrend with another lower high while Crude Oil found some strength and rebounded higher but finished at a lower high. The US Dollar rose to test the April gap, its highest level in 6 weeks, while Treasuries dropped to their lowest prices in nearly a year. The Shanghai Composite printed a new 11 year high midweek before settling lower Friday while Emerging Markets retreated from the record close last Friday.

The Volatility Index held in the high teens all week, continuing the bullish support for equities. Equities took advantage of that making new highs Monday and then Wednesday and Thursday before Options Expiration saw some shenanigans and a move lower Friday. What does this mean for the coming week? Let’s look at some charts.

The SPY came into the week at an all-time high. It made another Monday and then paused Tuesday. Wednesday and Thursday added 2 more highs and it continued to ride the Bollinger Bands® as they open higher. Friday saw a small pullback to end the week of Friday all-time high closes at 4. The RSI is pulling back down through the edge of overbought territory in the bullish zone and the MACD rising and positive.

The weekly chart shows the price pushing above the 300% extension of the retracement of the 2022 drop at 741.50 before stalling with 7 positive weeks in a row. The RSI is rising in the bullish zone with the MACD rising and positive. There is support lower at 735 and 728 then 724 and 718 before 715 and 710. There is resistance above at 741 and 750. Uptrend.

With the May options expiration in the rearview mirror and heading into the last week before the long weekend and unofficial start of summer, equities continue to act strong, tacking on more new all-time highs but failing to close out the week at highs. This ends the streak of Friday all-time high closes at four. Elsewhere, look for Gold to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil bounces around in broad consolidation over $100/bbl near the top of the range. The US Dollar Index looks to continue to higher in broad consolidation while US Treasuries continue to test support and a possible continuation of their downtrend. The Shanghai Composite looks to continue a short term uptrend new 11 year highs while Emerging Markets digest the new highs in their uptrend.

The Volatility Index looks to continue in the normal zone removing all the pressure on equities. The charts of the SPY, the QQQ and the IWM continue to look extremely strong on the longer timeframe with a 7th positive week for the SPY. On the shorter timeframe the SPY, the QQQ and the IWM also look very strong but with overheated momentum starting to reset lower and price digesting to end the week. 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:

NVDIA, $NVDA, comes into the week approaching resistance at the all-time high. As it moves the Bollinger Bands® are starting to shift to the upside. It has an RSI rising in the bullish zone and a MACD that is positive and crossing up. There is no resistance above 217. A measured move would target a price of 248. There is support lower at 212.50 and 208. Short interest is low at 1.2%. The stock pays dividend with an annual yield of 0.02% and has treated ex-dividend since March 11th.

The company is expected to report earnings next on May 20th. The May options chain has biggest open interest at the 200 and 195 strike puts. On the call side it is biggest above at the 225 and 217.50 call strikes but below at 200 it is much larger. In the June chain biggest open interest is at the 200 strike on the put side and the call side but to the upside biggest at 220 on the call side. Finally in the July chain open interest is biggest at the 180 strike on the put side and the 200 strike on the call side but again above at the 220 call strike.

Trade Idea 1: Buy the stock on a move over 217 with a stop at 208.

Trade Idea 2: Buy the stock on a move over 217 and add a June 210/200 Put Spread ($3.85) while selling the July 260 Calls ($3.60).

Trade Idea 3: Buy the May/June 220 Call Calendar ($8.07) while selling the June 200 Calls ($5.70).

Trade Idea 4: Buy the July 195/225/250 Call Spread Risk Reversal ($5.40).

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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 bulk of the 1st Quarter earnings in the rearview mirror and heading into next week’s May options expiration, saw equities continue to act strong and tacking on more new all-time highs for the fourth week in a row.

Elsewhere, look for Gold to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil bounces around in broad consolidation under $100/bbl. The US Dollar Index looks to continue to drift lower in consolidation while US Treasuries continue to hold over 16 month support like nothing is happening. The Shanghai Composite looks to continue a short term uptrend closing in on the 2026 top and a new 11 year high while Emerging Markets push to new highs in their uptrend.

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

Boeing, $BA, comes into the week breaking short term resistance. It has an RSI in the bullish zone and the MACD positive period look for continuation to participate…

Biogen, $BIIB, comes into the week approaching resistance. It has an RSI in the bullish zone and a MACD positive period look for a break of resistance to participate…

Blackrock, $BLK, comes into the week breaking short term resistance. It has an RSI and the bullish zone and the MACD positive period look for continuation to participate…

BorgWarner, $BWA, comes into the week breaking resistance. It has an RSI in the bullish zone and a MACD positive period look for continuation to participate…

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

Up Next: Bonus Idea                                                                                        

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If you like what you see sign up for more ideas and deeper analysis using this Get Premium link.   

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 bulk of the 1st Quarter earnings in the rearview mirror and heading into next week’s May options expiration, saw equities continue to act strong and tacking on more new all-time highs for the fourth week in a row.

Elsewhere, look for Gold to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil bounces around in broad consolidation under $100/bbl. The US Dollar Index looks to continue to drift lower in consolidation while US Treasuries continue to hold over 16 month support like nothing is happening. The Shanghai Composite looks to continue a short term uptrend closing in on the 2026 top and a new 11 year high while Emerging Markets push to new highs in their uptrend.

Last week, the review of the macro market indicators saw, with the month of April, including Chairman Powell’s last FOMC meeting, in the books equities showed continued strength driving to new all-time highs for the third week in a row. Elsewhere, looked for Gold ($GLD) to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil ($USO) bounced around in broad consolidation near $100/bbl. The US Dollar Index ($DXY) looked to continue to drift in consolidation, this time to the downside, while US Treasuries ($TLT) continued to hold over 16 month support like nothing was happening.

The Shanghai Composite ($ASHR) looked to continue a short term uptrend closing in on the 2025 top and a new 11 year high while Emerging Markets ($EEM) pushed to new highs in their uptrend. The Volatility Index ($VXX) looked to continue in the normal zone removing all the pressure on equities. The charts of the $SPY, the $QQQ and the $IWM continued to look extremely strong on the longer timeframe with a 4th positive week moving to new highs. On the shorter timeframe the SPY, the QQQ and the IWM also looked very strong but with overheated momentum and possibly in need of a pause.

The week played out with Gold finding support and moving back higher while Crude Oil sold off sharply. The US Dollar drifted lower to a 2 month low while Treasuries bounced after retesting 10 month lows. The Shanghai Composite finished at a retest of the highs of 2026 while Emerging Markets continued to make new all-time highs.

The Volatility Index held near last week’s low in the normal range. This gave equities free reign to move higher and they rose to new highs multiple times during the week. This resulted in the SPY, the QQQ and the IWM all printing a new all-time high Tuesday and Wednesday and the SPY and QQQ another on Friday. What does this mean for the coming week? Let’s look at some charts.

The SPY came into the week at a new all-time after breaking a short term consolidation. It held Monday slightly lower and then made another new high each of Tuesday and Wednesday. It paused again Thursday and then closed the week with another new all-time high on Friday. It is now at the top of the Bollinger Bands® but pushing then open higher. The RSI continues to roll along the edge of overbought territory in the bullish zone and the MACD rising and positive.

The weekly chart shows the price approaching the 300% extension of the retracement of the 2022 drop at 741.50 with 6 positive weeks in a row. The RSI is rising in the bullish zone with the MACD crossed up, rising and positive. There is support lower at 728 and 724 then 718 and 715 before 710 and 703. There is no resistance above 738. Uptrend.

With the bulk of the 1st Quarter earnings in the rearview mirror and heading into next week’s May options expiration, equities continue to act strong and tacking on more new all-time highs for the fourth week in a row. Elsewhere, look for Gold to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil bounces around in broad consolidation under $100/bbl. The US Dollar Index looks to continue to drift lower in consolidation while US Treasuries continue to hold over 16 month support like nothing is happening.

The Shanghai Composite looks to continue a short term uptrend closing in on the 2026 top and a new 11 year high while Emerging Markets push to new highs in their uptrend. The Volatility Index looks to continue in the normal zone removing all the pressure on equities. The charts of the SPY, the QQQ and the IWM continue to look extremely strong on the longer timeframe with a 6th positive week moving to new highs. On the shorter timeframe the SPY, the QQQ and the IWM also look very strong but with overheated momentum and may need a pause. Use this information as you prepare for the coming week and trad’em well.

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AIG, $AIG, comes into the week approaching a key resistance area. It has an RSI rising into the bullish zone with a MACD crossing up and about to turn positive. There is resistance at 79.50 through 80.25 and then at 81.25 and 82 before a gap to fill at 83.50 followed by 84.50 and 86. Support lower is at 77 and 76 followed by 75. Short interest is low at 1.4%. The stock pays a dividend with an annual yield of 2.54% and will trade ex-dividend June 15th.

The company is expected to report earnings next on August 4th. The May options chain has biggest open interest at the 80 strike put and the 85 strike call. In the June chain open interest is biggest at the 75 put then the 65 put strikes and on the call side at the 80 strike. In the July chain it is just getting started and has very low open interest. The August chain, which covers the next earnings report, also has low open interest but spread from the 72.50 to 60 strikes on the put side and from the 75 to the 90 strike on the call side.

Trade Idea 1: Buy the stock on a move over 80.25 with a stop at 77.25.

Trade Idea 2: Buy the stock on a move over 80.25 and add a June 77.50/72.50 Put Spread ($1.40) while also selling the July 85 Calls ($1.00).

Trade Idea 3: Buy the June/July 85 Call Calendar (75 cents) and sell the June 72.50 Put (60 cents).

Trade Idea 4: Buy the June 72.50/80/82.50 Call Spread Risk Reversal (45 cents).

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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 April, including Chairman Powell’s last FOMC meeting, in the books saw equities continue to show strength driving to new all-time highs for the third week in a row.

Elsewhere, look for Gold to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil bounces around in broad consolidation near $100/bbl. The US Dollar Index looks to continue to drift in consolidation, this time to the downside, while US Treasuries continue to hold over 16 month support like nothing is happening. The Shanghai Composite looks to continue a short term uptrend closing in on the 2025 top and a new 11 year high while Emerging Markets push to new highs in their uptrend.

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

First Solar, $FSLR, comes into the week in consolidation under the 200 day SMA after pulling back from a double top at the beginning of the year. It has an RSI in the bullish zone and a MACD positive. Look for a push over resistance to participate…

Gamestop, $GME, comes into the week breaking short term resistance. It has an RSI in the bullish zone and the MACD positive. Look for continuation to participate…

Interactive Brokers, $IBKR, comes into the week rounding up from a shallow pullback. It has an RSI in the bullish zone and a MACD positive. Look for continuation higher to participate…

Illumina, $ILMN, comes into the week breaking short term resistance. It has an RSI rising into the bullish zone with the MACD positive. Look for continuation to participate…

Lilly, $LLY, comes into the week approaching resistance. It has an RSI rising into the bullish zone and a MACD negative. Look for a push over resistance 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 the month of April, including Chairman Powell’s last FOMC meeting, in the books saw equities continue to show strength driving to new all-time highs for the third week in a row.

Elsewhere, look for Gold to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil bounces around in broad consolidation near $100/bbl. The US Dollar Index looks to continue to drift in consolidation, this time to the downside, while US Treasuries continue to hold over 16 month support like nothing is happening. The Shanghai Composite looks to continue a short term uptrend closing in on the 2025 top and a new 11 year high while Emerging Markets push to new highs in their uptrend.

Last week, the review of the macro market indicators saw, with one week left in April and ceasefire talks set in Pakistan, equities showed continued strength driving to new all-time highs for the second week in a row. Elsewhere, looked for Gold ($GLD) to continue recovering from the pullback but testing traders patience while Crude Oil ($USO) attempted to right itself after the prior week’s freefall. The US Dollar Index ($DXY) looked to continue to drift in consolidation while US Treasuries ($TLT) continued to hold over 16 month support like nothing was happening. The Shanghai Composite ($ASHR) looked to continue a short term uptrend closing in on the 2025 top while Emerging Markets ($EEM) pushed to new highs in their uptrend.

The Volatility Index ($VXX) looked to continue in the normal zone removing all the pressure on equities. The charts of the $SPY, the $QQQ and the $IWM continued to look extremely strong on the longer timeframe with a 4th positive week moving to new highs. On the shorter timeframe the SPY, the QQQ and the IWM also looked very strong but continued to show overheated momentum, and a possible need for a pause.

The week played out with Gold finding support in its pullback and bouncing while Crude Oil met resistance midweek and reversed. The US Dollar dropped to a new 2 month low while Treasuries fell back to test 21 month lows. The Shanghai Composite paused in consolidation in its move higher while Emerging Markets rebounded to new all-time highs after an early week drop. The Volatility Index continued lower all week, finishing at 3 month lows. This removed all pressure from equities midweek and they rose to new highs Thursday and Friday. What does this mean for the coming week? Let’s look at some charts.

The SPY came into the week at a new all-time after breaking a short term consolidation. It made another Monday, then pulled back slightly in a pair of doji indecision candles through Wednesday. Thursday it decided with a move to a new all-time high and finished the week with another on Friday. The RSI continues to roll along the edge of overbought territory in the bullish zone and the MACD rising and positive.

The weekly chart shows the price continuing above the 261.8% extension of the retracement of the 2022 drop with 5 positive weeks in a row. The RSI is rising in the bullish zone with the MACD crossed up, rising and positive. There is support lower at 719 and 715.50 then 710 and 703 followed by 697 and 692 then 689 and 685. There is no resistance above 724.50. Uptrend.

With the month of April, including Chairman Powell’s last FOMC meeting, in the books equities showed continued strength driving to new all-time highs for the third week in a row. Elsewhere, look for Gold to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil bounces around in broad consolidation near $100/bbl. The US Dollar Index looks to continue to drift in consolidation, this time to the downside, while US Treasuries continue to hold over 16 month support like nothing is happening. The Shanghai Composite looks to continue a short term uptrend closing in on the 2025 top and a new 11 year high while Emerging Markets push to new highs in their uptrend.

The Volatility Index looks to continue in the normal zone removing all the pressure on equities. The charts of the SPY, the QQQ and the IWM continue to look extremely strong on the longer timeframe with a 4th positive week moving to new highs. On the shorter timeframe the SPY, the QQQ and the IWM also look very strong but with overheated momentum and may need a pause. Use this information as you prepare for the coming week and trad’em well.

MetLife, $MET, comes into the week approaching resistance and moving over its 200 day SMA. It has a RSI moving higher in the bullish zone and a MACD level and positive. There is resistance at 78.25 and 79.25 then 80 and 82 before 83.50 and 84.50. Support lower is at 77 and 76. Short interest is low at 2.3%. The stock pays a dividend with an annual yield of 2.92% and has traded ex-dividend since February 3rd.

The company is expected to report earnings next on May 6th. The May options chain sports the biggest open interest at the 70 and 60 strikes on the put side and at 80 on the call side. In the June chain it is spread from 80 to 62.50 on the put side, biggest at the 75 strike. On the call side it is biggest at 80. Finally, in the September chain open interest is biggest at the 65 put and 77.50 call strikes.

Trade Idea 1: Buy the stock on a move over 78.25 with a stop at 75.50.

Trade Idea 2: Buy the stock on a move over 78.25 and add a May 75/70 Put Spread ($1.55) while also selling the June 82.50 Calls ($1.05).

Trade Idea 3: Buy the May/June 82.50 Call Calendar ($1.40) while selling the June 70 Puts (95 cents).

Trade Idea 4: Buy the September 67.50/80/87.50 Call Spread Risk Reversal (40 cents).

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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 one week left in April and ceasefire talks set in Pakistan, saw equities show continued strength driving to new all-time highs for the second week in a row.

Elsewhere, look for Gold to continue recovering from the pullback but testing traders patience while Crude Oil attempts to right itself after last week’s freefall. The US Dollar Index looks to continue to drift in consolidation while US Treasuries continue to hold over 16 month support like nothing is happening. The Shanghai Composite looks to continue a short term uptrend closing in on the 2025 top while Emerging Markets push to new highs in their uptrend.

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

Edwards Lifesciences, $EW, comes into the week moving up from a pullback. It has a RSI into the bullish zone with the MACD about to cross to positive. Look for continuation to participate…

Halliburton, $HAL, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…

Nasdaq, $NDAQ, comes into the week at resistance. It has a RSI entering the bullish zone with the MACD positive. Look for a push over resistance to participate…

NVIDIA, $NVDA, comes into the week testing resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…

Patterson-UTI Energy, $PTEN, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…

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If you like what you see sign up for more ideas and deeper analysis using this Get Premium link.   

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 one week left in April and ceasefire talks set in Pakistan, saw equities show continued strength driving to new all-time highs for the second week in a row.

Elsewhere, look for Gold to continue recovering from the pullback but testing traders patience while Crude Oil attempts to right itself after last week’s freefall. The US Dollar Index looks to continue to drift in consolidation while US Treasuries continue to hold over 16 month support like nothing is happening. The Shanghai Composite looks to continue a short term uptrend closing in on the 2025 top while Emerging Markets push to new highs in their uptrend.