#$bk

The Bank of New York Mellon, $BK, comes into the week breaking to a new all-time high after a 6 week consolidation. It has a RSI rising in the bullish zone with the MACD positive and climbing. The Bollinger Bands® are open higher to allow a move. There is no resistance above. Support lower is at 65.75 and 65 before 64 and 62.50. Short interest is low at 1%. The stock pays a dividend with an annual yield of 2.83% and has traded ex-dividend since July 22nd. 

The company is expected to report earnings next on October 11th. The September options chain shows biggest open interest at the 50 put strike and the 65 call strike. In the October chain it is light all around but biggest at the 65 put and 70 call. In the December chain the 60 put has the biggest open interest and the 65 and 60 call strikes are the largest.

Bank of New York Mellon, Ticker: $BK

Trade Idea 1: Buy the stock on a move over 66.75 with a stop at 64.

Trade Idea 2: Buy the stock on a move over 66.75 and add an October 65/60 Put Spread ($1.05) while selling the December 72.50 Call (90 cents).

Trade Idea 3: Buy the September/October 70 Call Calendar (75 cents) while selling the October 60 Put (40 cents).

Trade Idea 4: Buy the December 60/70/75 Call Spread Risk Reversal (35 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 Fed Jackson Hole meeting in the rear view mirror, equity markets continued their progress higher, shifting from the large caps and tech names to small caps Friday, but without a rotation this time.

Elsewhere look for Gold to continue its uptrend while Crude Oil consolidates in a narrow range and at risk for a drop. The US Dollar Index continues to move to the downside while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue the downtrend while Emerging Markets may start a new uptrend.

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

Bank of NY Mellon, $BK, 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…

Citigroup, $C, 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…

Five Below, $FIVE, 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 participate…

GE Aerospace, $GE, comes into the week rising out of a pullback. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…

United Airlines, $UAL, 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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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 first week of February in the books, saw equity markets show resilience recovering after a midweek trip up in a data light week.

Elsewhere, look for Gold to regroup around $5000/oz digesting the long move up while Crude Oil moves sideways in the consolidation range. The US Dollar Index is showing some strength rising off a 4 year low while US Treasuries continue to hold in the lower end of the consolidation zone and looking better lower. The Shanghai Composite looks to be pausing in the uptrend while Emerging Markets have reset momentum gauges look ready for new all-time highs in their uptrend.

Bank of New York Mellon, $BK, comes into the week breaking above resistance and at an all-time high. The Bollinger Bands® are squeezed, often a precursor ahead of a move. The RSI is rising in the bullish zone with the MACD positive and trying to cross up. There is no resistance above 88.25, Friday’s high print. A Measured Move on continuation higher gives a target to 97. Support lower is at 87.75 and 84 then 82.50. Short interest is low at 1.3%. The stock pays a dividend with an annual yield of 2.14%. and started trading ex-dividend on January 27th.

The company is expected to report earnings next on April 14th. The February options chain shows biggest open interest at the 82.50 strike on the put side, and at the 87 and 82.50 strikes on the call side. The March chain has biggest open interest at the 82.50 and 85 strikes on the put side. The call side sees biggest open interest at 77.50 then 85. Finally, the June chain is the first to cover the next earnings report and sees open interest spread from 80 to 60 on the put side. On the call side it is biggest at 60 then 70 but has a cluster from 82.50 to 87.50 as well.

Trade Idea 1: Buy the stock on a move over 88.25 with a stop at 84.

Trade Idea 2: Buy the stock on a move over 88.25 and add a March 85 Put ($1.05) while selling a June 95 Call ($1.25).

Trade Idea 3: Buy the March/June 92.50 Call Calendar ($1.75) while selling the June 80 Put ($1.50).

Trade Idea 4: Buy the March 82.50/90/92.50 Call Spread Risk Reversal (35 cents).

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 heading into the Washington’s Birthday weekend and February options expiration, saw equity markets show strength with a rebound from more talk of tariffs and a rough inflation print.

Elsewhere look for Gold to possibly pullback or pause in the uptrend while Crude Oil consolidates in a broad range. The US Dollar Index looks to drift to the downside testing a breakout level that launched the uptrend while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue the short term move higher in broad consolidation while Emerging Markets continue a short term move higher.

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

Bank of New York Mellon, $BK, comes into the week at a new all-time high after breaking resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…

BP, $BP, 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 participate…

Cummins, $CMI, comes into the week rounding out of a pullback. It has a RSI rising into the bullish zone with the MACD positive. Look for continuation to participate…

Costco, $COST, comes into the week at resistance. It has a RSI rising through the midline with the MACD crossing up. Look for a push over resistance to participate…

Lowe’s, $LOW, comes into the week rising out of a pullback. The RSI is in the bullish zone with the MACD rising. Look for continuation to participate…

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 January options expiry in the books, saw equity markets show strength after a precarious start Monday morning.

Elsewhere look for Gold to continue its assault on the all-time high while Crude Oil rises in consolidation. The US Dollar Index continues to drift higher while US Treasuries remain in a short term downtrend. The Shanghai Composite looks to continue to chop the entirety of a broad range while Emerging Markets remain in a short term downtrend.

The Bank of New York Mellon, $BK, comes into the week at resistance at an all-time high. It has Bollinger Bands® opening higher to allow a move. The RSI is rising in the bullish zone after a reset lower while the MACD is positive and looking to cross up. There is no resistance above 80.30. Support lower is at 78.75 and 77 before a gap to fill to 76.20 then 75. Short interest is low at 1.1%. The stock pays a dividend with an annual yield of 2.35% and has traded ex-dividend since October 21st.

The company is expected to report earnings next on January 15, 2025. The December options chain shows the biggest open interest at the 70 then 50 strikes on the put side. On the call side it builds from 60 to a peak at 77.50 then tails off quickly. The January chain has biggest open interest at the 70 strike then 57.50 and 75 on the put side. The call side sees it biggest at 75 then 80. Finally, the March chain has biggest open interest at the 80 put and on the call side at 55 then 77.50.

The Bank of New York Mellon, Ticker: $BK

Trade Idea 1: Buy the stock on a move over 80.30 with a stop at 77.

Trade Idea 2: Buy the stock on a move over 80.30 and add a December 80/75 Put Spread ($1.35) while selling the January 85 Call ($1.10).

Trade Idea 3: Buy the December/January 85 Call Calendar ($1.00) while selling the January 75 Put (85 cents).

Trade Idea 4: Buy the January 75/82.50/87.50 Call Spread Risk Reversal (15 cents).

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 heading into the Thanksgiving shortened holiday week, saw equity markets showing strength, recovering much or all of last week’s falls.

Elsewhere look for Gold to continue its uptrend while Crude Oil consolidates at the bottom of a broad range. The US Dollar Index continues to drift to the upside while US Treasuries hold in consolidation. The Shanghai Composite looks to continue the short term move higher while Emerging Markets cling to support in the short term uptrend.

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

Bank of New York Mellon, Ticker: $BK

Bank of New York Mellon, $BK, comes into the week approaching the recent all-time high. It has a RSI in the bullish zone with the MACD positive. Look for a push to a new high to participate…..

Salesforce, Ticker: $CRM

Salesforce, $CRM, 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…..

Fastenal, Ticker: $FAST

Fastenal, $FAST, 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 participate…..

General Electric, Ticker: $GE

General Electric, $GE, 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 participate…..

McKesson, Ticker: $MCK

McKesson, $MCK, comes into the week rounding up toward resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

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 three trading days left in July, saw large cap and tech focused index equity markets showing weakness with small caps continuing to hold strong.

Elsewhere look for Gold to continue its consolidation in the uptrend while Crude Oil consolidates in a tightening range. The US Dollar Index continues to drift in broad consolidation while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue the short term move lower while Emerging Markets continue to hold their newfound short term uptrend.

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

Albemarle, Ticker: $ALB

Albemarle, $ALB, comes into the week at resistance. It has a RSI holding in the bullish zone with the MACD positive and rising. Look for a push over resistance to participate…..

Bank of New York Mellon, Ticker: $BK

Bank of New York Mellon, $BK, comes into the week in consolidation. It has a RSI trending higher with a MACD also moving to the upside but negative. Look for a push over consolidation to participate…..

Gilead Sciences, Ticker: $GILD

Gilead Sciences, $GILD, comes into the week at resistance. It has a RSI rising in the bullish zone with the MACD positive and rising. Look for a push over resistance to participate…..

Interactive Brokers, Ticker: $IBKR

Interactive Brokers, $IBKR, comes into the week bouncing off a low at resistance. It has a RSI rising towards the midline with the MACD crossing up but negative. Look for a push over resistance to participate…..

KBR, Ticker: $KBR

KBR, $KBR, comes into the week in consolidation under resistance at the 200 day SMA. It has a RSI rising out of oversold territory with the MACD crossing up but negative. Look for a push over resistance to participate…..

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 May options expiration in the books, saw equity markets made new lows with the SPY reaching down into bear market territory, joining the IWM and QQQ, before rebounding at the close Friday.

Elsewhere look for Gold to possibly reverse higher while Crude Oil consolidates in an uptrend. The US Dollar Index is pulling back in its uptrend while US Treasuries bounce in their downtrend. The Shanghai Composite looks to continue the short term move higher while Emerging Markets continue the downtrend.