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

Apple, $AAPL, comes into the week breaking resistance to a new all-time high. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…

Citigroup, $C, 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…

IBM, $IBM, comes into the week rising off the 50 day SMA. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…

Vertex Pharmaceuticals, $VRTX, 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…

Walmart, $WMT, comes into the week breaking resistance and at an all-time high. 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 with the month of November in the books, saw equity markets weather another shallow pullback and looking strong again.

Elsewhere, look for Gold to continue the uptrend while Crude Oil holds lower in consolidation. The US Dollar Index continues the short term drift to the downside while US Treasuries continue in consolidation still teasing of a possible reversal higher. The Shanghai Composite looks to continue the uptrend after some digestion from the 10 year highs while Emerging Markets find support and reverse in their uptrend.

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

Abbvie, $ABBV, comes into the week at resistance. It has a RSI rising off the midline with the MACD positive. Look for a push over resistance to participate…

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

Fastenal, $FAST, comes into the week at resistance. It has a RSI in the bullish zone with the MACD level and positive. Look for a push over resistance to participate…

Gilead Sciences, $GILD, 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…

IBM, $IBM, 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…

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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 June non-farm payroll report in the rearview mirror, saw equity markets show continued progress moving back towards their all-time highs.

Elsewhere look for Gold to continue its uptrend while Crude Oil continues to trend lower. The US Dollar Index continues a short term move to the downside while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue in consolidation while Emerging Markets break to the upside.

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

Baker Hughes, Ticker: $BKR

Baker Hughes, $BKR, comes into the week at resistance. It has a RSI at the midline with the MACD rising. Look for a push over resistance to participate…..

Cleveland-Cliffs, Ticker: $CLF

Cleveland-Cliffs, $CLF, 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…..

IBM, Ticker: $IBM

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

Marathon Petroleum, Ticker: $MPC

Marathon Petroleum, $MPC, 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…..

Northern Trust, Ticker: $NTRS

Northern Trust, $NTRS, 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…..

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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 February in the books, saw equity markets continue to show strength with the small caps now joining the large cap and tech indexes.

Elsewhere look for Gold to continue its assault on a new all-time high while Crude Oil moves higher out of consolidation. The US Dollar Index continues to drift in consolidation while US Treasuries hold in their downtrend. The Shanghai Composite looks to continue the short term move higher while Emerging Markets continue to consolidate.

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

Arch Capital Group, Ticker: $ACGL

Arch Capital Group, $ACGL, comes into the week at resistance. It has a RSI at the midline with the MACD rising but negative. Look for a push over resistance to participate…..

Cboe Global Markets, Ticker: $CBOE

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

Gilead Sciences, Ticker: $GILD

Gilead Sciences, $GILD, 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…..

IBM, Ticker: $IBM

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

Sherwin-Williams, Ticker: $SHW

Sherwin-Williams, $SHW, comes into the week moving higher. 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 heading into January options expiration, saw equity markets split with strength in the large caps and tech heavy Nasdaq, but small caps continuing to tread water.

Elsewhere look for Gold to continue the rebound higher while Crude Oil consolidates in a tight range. The US Dollar Index continues to drift to the downside in consolidation while US Treasuries possibly reverse their uptrend. The Shanghai Composite looks to continue the downtrend while Emerging Markets consolidate in a broad range.

IBM, $IBM, comes into the week at resistance and building a Cup and Handle pattern. The pattern carries a target to 158.50 on a push over resistance. Price is outside of the Bollinger Bands® which have opened to the upside. The RSI is rising in the bullish zone with the MACD crossed up and positive. There is resistance from 139 to 140 and then at 142.50 and 144.50 then 146 and 147 before 149.50 and 151.50. Support lower comes at 137.25 and 134 then 132 and 129.50. Short interest is moderate at 3%. The stock pays a dividend with an annual yield of 4.78% and has traded ex-dividend since May 9th. The company is expected to report earnings next on October 25th. 

The August options chain shows the biggest open interest at the 125 and 115 strikes on the put side and at 130 and 135 on the call side. In the September chain open interest builds from 140 to a peak at 120 then tails to 105 on the put side. The call side is biggest at 140 and 135. The October chain has biggest open interest at the 125 and 120 put strikes with it spread from 130 to 150 on the call side. The November chain is the first to cover the next earnings report and has small open interest spread from 140 to 125 on the put side. The call side sees it focused at 140 and 150.

IBM, Ticker: $IBM

Trade Idea 1: Buy the stock on a move over 140 with a stop at 134.

Trade Idea 2: Buy the stock on a move over 140 and add an August 135/130 Put Spread (84 cents) while selling the October 150 Calls (75 cents).

Trade Idea 3: Buy the August/October 145 Call Calendar ($1.52) while selling the September 130 Put (74 cents).

Trade Idea 4: Buy the October 125/145/150 Call Spread Risk Reversal (37 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 July options expiration in the books, saw equity markets showed some signs of tiring after a promising start to the week.

Elsewhere look for Gold to possibly reverse to the upside out of consolidation while Crude Oil consolidates in the top of a broad range. The US Dollar Index looks to bounce in the downtrend while US Treasuries continue in consolidation. The Shanghai Composite looks to continue the slow drift lower in consolidation while Emerging Markets consolidate in a tightening range.

IBM, $IBM, comes into the week finding support at the rising 50 day SMA after a pullback from a retest of the pre-Covid high. The RSI is reversing higher with the MACD leveling as it turns negative. There is support at 138.50 and 134.50. There is resistance higher at 143 and 146 then 149.75 and 151.50. Short interest is moderate at 3.3%. The stock pays a dividend with an annual yield of 4.66% and has traded ex-dividend since November 9th. The company is expected to report earnings next on January 23, 2023. 

The December 30 Expiry options show big open interest at 140 and 136 on the put side and it is spread from 138 to 155 on the call side. In the January chain open interest is biggest at 140 on the put side then 145 and 135. On the call side it is big at 135, 140 and 145. The February chain has biggest open interest at the 140 strike on the put side and then it tails to 125. On the call side it builds from 130 to 150.

IBM, Ticker: $IBM

Trade Idea 1: Buy the stock on a move over 143 with a stop at 138.

Trade Idea 2: Buy the stock on a move over 143 and add a January 140/135 Put Spread ($1.40) while selling the January 27 Expiry 152.50 Calls ($1.05).

Trade Idea 3: Buy the January/February 150 Call Calendar ($1.80) and sell the January 135 Put ($1.00).

Trade Idea 4: Buy the February 130/145/150 Call Spread Risk Reversal (10 cent credit).

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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 4 trading days left in 2022, saw equity markets showed some divergence. The SPY and IWM put in consolidation weeks, saved by end of week moves higher while the QQQ continued to move lower and is approaching a retest of the year’s low.

Elsewhere look for Gold to consolidate around 1800 while Crude Oil consolidates in the downtrend. The US Dollar Index looks to pause in the downtrend while US Treasuries resume the move lower. The Shanghai Composite looks to have reversed to a short term downtrend while Emerging Markets consolidate.

IBM, $IBM, comes into the week consolidating in a descending triangle after a strong move higher. This is happening just short of the full retracement of the pandemic drop. The triangle can resolve in either direction, but we favor a continuation of the prior trend, which is to the upside. If it does this would give a target to 153.50 initially then 159.50. Both would levels not seen since early 2018. The RSI is pulling back in the bullish zone with the MACD crossed down and dropping but positive. 

There is support lower at 146 and 143 then 141 and 139 before 134.50. Resistance higher sits at 149.75 and 151.50 then 155 and 158 before 160 and 163.30 from 2018. Short interest is moderate at 3.4%. The stock pays a dividend with an annual yield of 4.49% and has traded ex-dividend since November 9th. The company is expected to report earnings next on January 23, 2023.  

The December options chain shows biggest open interest at the 145 and 140 strikes on the put side, and from 150 to 155 above, but lower at 145 and 140 on the call side. The January chain has large open interest spread from 145 to 120 on the put side. It builds from 120 to a peak at 140 then tails to 170 on the call side. The January 27 Expiry chain is just getting started. The February chain is the first to cover the earnings report with sizable open interest. It shows top open interest at the 140 strike and then tailing to 110 on the put side. On the call side it is spread from 130 to 150.

IBM, Ticker: $IBM

Trade Idea 1: Buy the stock on a move over 150 with a stop at 146.

Trade Idea 2: Buy the stock on a move over 150 and add a January 145/140 Put Spread ($1.50) while selling the February 165 Calls ($1.00).

Trade Idea 3: Buy the January/February 155 Call Calendar ($2.00) and sell the February 130 Put ($1.75).

Trade Idea 4: Buy the January 145/135 Put Spread on a move under 146.

If you like what you see sign up for more ideas and deeper analysis here Get Premium with special holiday discounts.  

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 December options expiration, saw equity markets have rolled again, threatening to reverse their short term uptrends.

Elsewhere look for Gold to continue its short term uptrend while Crude Oil continues the downtrend. The US Dollar Index has found short term support in its downtrend while the US Treasuries short term uptrend has stalled. The Shanghai Composite looks to continue its short term move higher while Emerging Markets consolidate in their move higher.

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

Alcoa, Ticker: $AA

Alcoa, $AA, comes into the week moving up with the RSI rising and bullish and the MACD curling back higher. Look for continuation to participate…..

Salesforce, Ticker: $CRM

Salesforce, $CRM, comes into the week moving up out of a falling channel. The RSI is rising into the bullish zone and the MACD is climbing toward zero. Look for continuation to participate…..

Honeywell, Ticker: $HON

Honeywell, $HON, comes into the week moving up off a February low. It has a RSI rising into the bullish zone with the MACD about to turn positive. Look for continuation to participate…..

IBM, Ticker: $IBM

IBM, $IBM, comes into the week moving over resistance. It has a RSI rising into the bullish zone and a MACD moving higher. Look for continuation to participate…..

Sherwin-Williams, Ticker: $SHW

Sherwin-Williams, $SHW, comes into the week moving up off a low. It has a RSI moving toward the midline with the MACD crossed up and climbing. 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 first Fed tightening and March Quadruple Witching behind, saw equity markets with renewed strength.

Elsewhere look for Gold and Crude Oil to pause in their uptrends. The US Dollar Index also looks to consolidate the recent gains while US Treasuries continue the downtrend. The Shanghai Composite looks to continue the trend lower along with Emerging Markets, although the latter might be ready for a reversal.