#$bp

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

Apple, Ticker: $AAPL

Apple, $AAPL, comes into the week consolidating just under the all-time high. It has a RSI rising in the bullish zone with the MACD flat and positive. look for a push over resistance to participate…..

Bank of America, Ticker: $BAC

Bank of America, $BAC, comes into the week at a 2 year high. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Bristol-Myers Squibb, Ticker: $BMY

Bristol-Myers Squibb, $BMY, comes into the week trying to reverse higher. It has a RSI climbing out of oversold with a MACD curling up. Look for continuation to participate…..

BP, Ticker: $BP

BP, $BP, comes into the week at short term resistance. It has a RSI at the midline with the MACD crossing up. Look for a push over resistance to participate…..

eBay, Ticker: $EBAY

eBay, $EBAY, 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 month of May in the books, saw equity markets showing some signs of weakness following divergences last week.

Elsewhere look for Gold to continue its consolidation in the uptrend while Crude Oil consolidates in a narrow range after a pullback. The US Dollar Index continues to drift to in broad consolidation while US Treasuries continue their downtrend. The short term move higher in the Shanghai Composite looks to be at risk of reversing while Emerging Markets enter a short term downtrend.

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

BP, $BP, comes into the week breaking above short term resistance. It has a RSI on the cusp of the bullish zone with the MACD positive. Look for continuation to participate…

CME Group, $CME, 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…

CVS Health, $CVS, comes into the week pushing up through resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…

Monster Beverage, $MNST, 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…

Atlassian, $TEAM, comes into the week moving up off a pullback. It has a RSI rising in the bearish zone with the MACD curling to cross up. 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 heading into next week’s FOMC meeting, saw equity markets show resilience snapping back after a news driven sell off to start the week.

Elsewhere, look for Gold to continue the uptrend in pursuit of $5000/oz while Crude Oil drifts in the consolidation range. The US Dollar Index is shifting to the downside continue to hold at 3½ month lows in consolidation and looking better lower. The Shanghai Composite looks ready to continue the uptrend at 10½ year highs while Emerging Markets continue to make new all-time highs in their uptrend.

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

BP, $BP, comes into the week consolidating under resistance. It has a RSI flat in the bullish zone with the MACD positive and rising. Look for a push over resistance to participate…

JP Morgan, $JPM, comes into the week rounding out of a pullback. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…

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

Lockheed Martin, $LMT, comes into the week rounding out of a pullback. It has a RSI at the midline with the MACD positive. Look for continuation to participate…

Wells Fargo, $WFC, comes into the week pressing against resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push through 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 following the FOMC meeting and Powell’s unexpected caution that a December rate cut was not inevitable, equity markets brushed it aside and focused on the good earnings reports to hold at all-time highs.

Elsewhere, look for Gold to continue the uptrend with some short term consolidation while Crude Oil moves lower again in consolidation. The US Dollar Index continues to drift to the upside consolidation rounding out a bottom, while US Treasuries hold at the breakout higher in their consolidation, continuing to tease of an intermediate term reversal higher. The Shanghai Composite looks to continue the uptrend at 10 year highs while Emerging Markets also continue their uptrend at 4 year highs.

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

Allstate, $ALL, 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…

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

ConocoPhillips, $COP, 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…

Edwards Lifesciences, $EW, comes into the week rounding up from a pullback. It has a RSI nearing the midline with the MACD curling up and negative. Look for continuation to participate…

General Dynamics, $GD, comes into the week poking above resistance. It has a 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 coming into the end of the 3rd Quarter, saw equity markets look strong as they held up well in what historically was a soft seasonal environment just shy of record highs.

Elsewhere, look for Gold to continue the uptrend to new highs while Crude Oil drifts in consolidation. The US Dollar Index continues to run sideways in consolidation, while US Treasuries may be in the early stages of reversing their downtrend but need more convincing. The Shanghai Composite looks to continue the short term consolidation in the uptrend to new 10 year highs while Emerging Markets also continue their uptrend at 4 year highs.

BP, $BP, comes into the week at a resistance zone. This zone has acted as support in the past. It is also bouncing off a nearly 3 year low. The RSI is rising out of oversold territory in the bearish zone with the MACD negative but curling up toward a cross. There is resistance at 28.35 and 29.75 then 30.50 and 31.25 before 32 and 33.25. Support lower is at 27.25 and 25.70. Short interest is low under 1%. The ADR pays a dividend with an annual yield of 6.62% and has traded ex-dividend since February 21.

The company is expected to report earnings next on May 5th. The May 9 Expiry options chain shows biggest open interest at the 30 strike on both the put and call sides and an expected move of $2.25 between now and expiry. The May chain has big open interest from 34 to 25 on the put side and building from 28 to a peak at 32 and 33 on the call side. The June chain has big open interest from 34 to 27, biggest at 30 on the put side. It is big from 30 to 37 on the call side, biggest at 36.

Trade Idea 1: Buy the stock on a move over 28.75 with a stop at 27.50.

Trade Idea 2: Buy the stock on a move over 28.75 and add a May 9 Expiry 28/26 Put Spread (60 cents) while selling the May 9 Expiry 30 Call (40 cents).

Trade Idea 3: Buy the May /June 31 Call Calendar (32 cents) while selling the May 25 Put (33 cents).

Trade Idea 4: Buy the June 25/30/33 Call Spread Risk Reversal (free).

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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 that saw with the April options expiration in the books, equity markets continued to focus on the impact from tariffs and almost nothing else.

Elsewhere look for Gold to continue its record run higher while Crude Oil consolidates in a broad range with a potential reversal higher brewing. The US Dollar Index continues to drift to the downside in a short term downtrend while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue in consolidation while Emerging Markets remain in broad consolidation.

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…

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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 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.

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

Arista Networks, $ANET, comes into the week approaching the 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…

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…

Flex, $FLEX, comes into the week poking through resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…

M & T Bank, $MTB, comes into the week approaching a reversal higher. The RSI is rising with the MACD curling to cross up. Look for a push over resistance to participate…

Block, $SQ, comes into the week pushing on resistance. It has a RSI rising in the bullish zone with the MACD curling up. Look for a break of 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 as we ring in the New Year and ring out a fabulous 2024, saw the week showing some disappointment in equity markets end in an early year rebound.

Elsewhere look for Gold to continue to consolidate the major move higher while Crude Oil rises in consolidation in the lower end of a broad range. The US Dollar Index looks to continue the breakout higher while US Treasuries consolidate at 14 month lows. The Shanghai Composite looks to reverse its uptrend with a break lower while Emerging Markets are reversing their uptrend.