5 Trade Ideas for Monday: Antero, Cencora, CVS, J&J and Marathon Petroleum
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
Antero Resources, $AR, 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…
Cencora, $COR, comes into the week at resistance. It has a RSI in the bullish zone with the MACD crossing up. Look for a push over resistance to participate…
CVS Health, $CVS, 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…
Johnson & Johnson, $JNJ, comes into the week at resistance. It has a RSI on the edge of the bullish zone with the MACD positive. Look for a push over resistance to participate…
Marathon Petroleum, $MPC, comes into the week at resistance. 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 FOMC meeting coming up next week, saw equity markets showed continued resilience until bombs started flying in the Middle East.
Elsewhere look for Gold to continue its uptrend while Crude Oil is close to testing a reversal of the trend lower. The US Dollar Index continues a short term move to the downside at 3 year lows while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue in consolidation while Emerging Markets break to the upside.
The Volatility Index looks to continue in the normal range making life easier for equity markets to the upside. Their charts show short term strength on the longer timeframe with strength also returning into the shorter timeframes. The IWM continues to lag the SPY and QQQ in recovery in price and the shift to bullish momentum on the longer timeframe. The classic “V” recovery continues to build in all 3 Index ETFs as the SPY and QQQ close in on their all-time highs but with possible short term pauses. Use this information as you prepare for the coming week and trad’em well.
