5 Trade Ideas for Monday: AIG, Allstate, Anheuser-Busch, Cleveland-Cliffs and HP
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
AIG, Ticker: $AIG
AIG, $AIG, comes into the week moving over resistance. It has a RSI rising into the bullish zone with the MACD positive. Look for continuation to participateā¦..
Allstate, Ticker: $ALL
Allstate, $ALL, comes into the week at resistance. It has a RSI rising over the midline with the MACD moving toward positive. Look for a push over resistance to participateā¦..
Anheuser-Busch InBev, Ticker: $BUD
Anheuser-Busch InBev, $BUD, comes into the week rounding out a bottom. It has a RSI rising and a MACD heading toward positive. Look for continuation to participateā¦..
Cleveland-Cliffs, Ticker: $CLF
Cleveland-Cliffs, $CLF, comes into the week breaking resistance. It has a RSI rising to the bullish zone with the MACD climbing. Look for continuation to participateā¦..
HP, Ticker: $HPQ
HP, $HPQ, 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 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 broad Market Macro picture reviewed Friday which heading into July Options Expiration week, equity markets showed early strength give way to rotation from large cap and tech names into small caps late in the week.
Elsewhere look for Gold to continue consolidation in the uptrend or break to new highs while Crude Oil consolidates in a tightening range. The US Dollar Index continues to drift to the downside in consolidation while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue the move lower in consolidation while Emerging Markets have broken consolidation to begin an uptrend.
The Volatility Index looks to remain very low and stable making the path easier for equity markets to the upside. Their charts also look strong, especially the SPY on the longer timeframe. On the shorter timeframe both the QQQ and SPY could us a reset on momentum measures as both are extended. But the story of the week is the IWM joining the party after a 2½ year nap. Use this information as you prepare for the coming week and tradāem well.
















