5 Trade Ideas for Monday:Ā Amazon, ASML, CME, Alphabet and Honeywell
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
Amazon, $AMZN, comes into the week rounding up out of a pullback. It has a RSI rising in the bearish zone with the MACD curling to cross up. Look for continuation to participateā¦
ASML, $ASML, 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 participateā¦
CME Group, $CME, comes into the week pressing through resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participateā¦
Alphabet, $GOOGL, comes into the week rounding up out of a pullback. It has a RSI rising near the midline with the MACD curling up. Look for continuation to participateā¦
Honeywell, $HON, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. look for a push over resistance to participateā¦
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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 broadĀ Market MacroĀ picture reviewed Friday which heading into the last week of February and after the Supreme Court ruling that tariffs were illegally put in place, saw equity markets show resilience holding steady on the week.
Elsewhere, look for Gold to continue to drift between $5000 and $5100 digesting the long move up while Crude Oil moves slightly higher in the consolidation range. The US Dollar Index is continuing to show some weakness holding near a 4 year low while US Treasuries look to hold in the upper end of the consolidation zone. The Shanghai Composite looks to come back in action after the holidays to a pause in the uptrend while Emerging Markets continue to add new all-time highs in their uptrend.
The Volatility Index looks to continue to hold in the normal range making it easier for equities to move higher. The charts of the SPY and the IWM remain strong on the longer timeframe with the QQQ starting to recover from a roll lower. On the shorter timeframe all 3 are in consolidation ranges with the top at the highs but with negative momentum divergences that could lead to short term moves lower. Use this information as you prepare for the coming week and tradāem well.
