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

Cummins, Ticker: $CMI

Cummins, $CMI, rose off of a December low and confirmed a break higher as it made a higher high in February. It continued to a top in April before a pullback that found support at the end of May. Another drive higher met resistance just after making a higher high and it has consolidated since. Friday saw it at the top of the consolidation with the RSI rising on the bullish zone and the MACD trying to cross up. Look for a push over resistance to participate…..

Chart Industries, Ticker: $GTLS

Chart Industries, $GTLS, started higher in December, reaching a peak in March. From there it consolidated and then pulled back, first to the 200 day SMA and then further. It has been consolidating the past 6 weeks under resistance with the RSI rising towards the bullish zone and the MACD moving higher. Look for a push over resistance to participate…..

Johnson & Johnson, Ticker: $JNJ

Johnson & Johnson, $JNJ, bounced off of a bottom in December and moved higher for 4 months. It pulled back then and made another charge to the upside, stalling at the gap down from December. Now it is moving lower still. The RSI is falling in the bearish zone with the MACD dropping and negative. Look for continuation to participate…..

Lam Research, Ticker: $LRCX

Lam Research, $LRCX, also rose from a December low, peaking at the end of April. It pulled back, finding support just above the 200 day SMA and consolidated until Thursday. That is when it broke consolidation to the upside. The RSI is rising and bullish with the MACD rising and positive. Look for continuation to participate…..

Lyft, Ticker: $LYFT

Lyft, $LYFT, started bleeding right after the first trade following its IPO. It finally bottomed in May 6 weeks later. Since then it has been recovering, and closed last week having retraced 50% of the drop. The RSI is rising and bullish with the MACD positive and moving higher. 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 saw the last week of Fed Speak and Options Expiration take a toll on equity markets as they suffered a down week.

Elsewhere look for Gold to pause in its uptrend while Crude Oil drives lower. The US Dollar Index remains stuck in a sideways consolidation while US Treasuries are pausing in their uptrend. The Shanghai Composite and Emerging Markets look to be consolidating sideways, the Shanghai Composite after a pullback and Emerging Markets in an uptrend.

It seems increasingly likely that it’s just a matter of time before “hailing a cab” will become an extinct practice. Earlier this week, China's ride-hailing service, Didi Kuaidi, announced a deal with American counterpart Lyft to combine services. 

This will allow passengers to hail rides from drivers of the other app, but to pay for the service in local currency. This pits Lyft and Didi squarely against Uber, who just recently raised nearly $1 billion to expand operations internationally and explore other revenue streams within the service economy, such as food delivery. 

Other countries are getting into the game as well: France's BlaBlaCar, which is already present across Europe, Russia and India, recently closed a new funding round with a valuation of an eye-popping $1.5B. Catching rides is big business.

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