5 Trade Ideas for Monday: American Express, Honeywell, Jack in the Box, Northrop Grumman and Synchrony Financial
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
American Express, Ticker: $AXP
American Express, $AXP, comes into the week moving up off a higher low. The RSI is rising and the MACD is turning to cross up. Look for continuation to participate…..
Honeywell, Ticker: $HON
Honeywell, $HON, comes into the week breaking resistance. The RSI is rising in the bullish zone with the MACD positive and climbing. Look for continuation to participate…..
Jack in the Box, Ticker: $JACK
Jack in the Box, $JACK, comes in to the week moving over short term resistance. The RSI is moving into the bullish zone with the MACD positive and moving up. Look for continuation to participate…..
Northrop Grumman, Ticker: $NOC
Northrop Grumman, $NOC, comes into the week moving up out of consolidation. The RSI is also turning higher with the MACD leveling. Look for continuation to participate…..
Synchrony Financial, Ticker: $SYF
Synchrony Financial, $SYF, comes into the week moving higher at resistance. The RSI is rising and the MACD is about to cross up. 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 November in the books, saw equity markets showed great strength with all major indexes finishing at all-time highs.
Elsewhere look for Gold to continue a short term uptrend while Crude Oil pulls back in its uptrend. The US Dollar Index continues on the verge of a reversal higher while US Treasuries continue in a short term uptrend. The Shanghai Composite looks to consolidate while Emerging Markets consolidate over long term support.
The Volatility Index looks to remain very low making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe. On the shorter timeframe both the QQQ and SPY printed possible reversal candles and both are extended. The IWM takes the lead though as it broke a 9 month consolidation higher. Use this information as you prepare for the coming week and trad’em well.
