5 Trade Ideas for Monday:Ā Air Products, Iron Mountain, LPL Financial, NVIDIA and PayPal
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
Air Products, $APD, comes into the week reversing higher. It has an RSI in the bullish zone and a MACD positive. Look for continuation to participateā¦
Iron Mountain, $IRM, comes into the week rounding up out of a pullback. It has an RSI approaching the midline and a MACD curling to cross up but negative. Look for continuation to participateā¦
LPL Financial, $LPLA, comes into the week rising over resistance. It has an RSI in the bullish zone with the MACD positive and climbing. Look for continuation to participateā¦
NVIDIA, $NVDA, comes into the week rising off of a pullback to the 200 day SMA. It has an RSI in the bullish zone with the MACD rising and negative. Look for continuation to participateā¦
PayPal, $PYPL, comes into the week pressing against resistance. It has an RSI in the bullish zone and a MACD positive and climbing. Look for a pushover resistance to participateā¦
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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 broadĀ Market MacroĀ picture reviewed Friday, which heading into the start of earnings season, saw equity markets to have settled into a consolidation at their all-time highs.
Elsewhere, look for Gold to continue the short term downtrend along with Crude Oil after its Dead Cat Bounce. The US Dollar Index looks to continue flirt with a break of the 15 month range and transition into an uptrend while US Treasuries threaten to break down through support in consolidation. The Shanghai Composite looks to continue the consolidation in a slow drifting range while Emerging Markets consolidate in their uptrend.
The Volatility Index looks to continue in the normal zone keeping at least a slight tailwind behind equities. The charts of the SPY, the QQQ look ready to start a drift to the upside and possibly overtake the IWM as leaders again. They all continue to look strong on the longer timeframe consolidating at the highs. On the shorter timeframe the SPY made a higher high, a first step, and the QQQ still has some work left in the short term bounce to prove the pullback is over. Making a new all-time high, or at least a move over the June high, with higher momentum readings would solidify that. The IWM, however, possibly starting to feel the pinch of the negative momentum divergence in its consolidation. Use this information as you prepare for the coming week and tradāem well.









