#$fls

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

BP, Ticker: $BP

BP, $BP, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD positive and rising. Look for a push over resistance to participate…..

HF Sinclair, Ticker: $DINO

HF Sinclair, $DINO, comes into the week breaking resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Flowserve, Ticker: $FLS

Flowserve, $FLS, comes into the week pressing back to resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Home Bancshares, Ticker: $HOMB

Home Bancshares, $HOMB, comes into the week reversing higher. It has a RSI lifting as well with the MACD turning to cross up. Look for continuation to participate…..

Molina Health, Ticker: $MOH

Molina Health, $MOH, comes into the week breaking resistance. It has a RSI in the bullish zone with the MACD crossing up. 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 heading into February options expiration, saw equity markets continued to show strength, especially on the large cap and tech indexes.

Elsewhere look for Gold to continue in consolidation while Crude Oil consolidates in a broad range. The US Dollar Index continues to drift to the upside in consolidation while US Treasuries pullback in their downtrend. The Shanghai Stock Exchange will be closed all week for the Lunar New Year holiday while Emerging Markets consolidate under resistance.

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

ADTRAN, Ticker: $ADTN

ADTRAN, $ADTN, was in a sideways consolidation for 4 months when it broke to the downside. It found a bottom a month later and then reversed. Now it is at short term resistance with the RSI rising into the bullish zone and the MACD positive and moving up. Look for a push over resistance to participate…..

Conagra, Ticker: $CAG

Conagra, $CAG, gapped down in February and continued to a bottom in mid-March. it quickly retraced and filled the gap, but just as quickly moved back lower. Now it is moving higher again and at resistance. The RSI is rising in the bullish zone with the MACD positive and pushing higher. Look for a push over resistance to participate…..

CME, Ticker: $CME

CME, $CME, was moving sideways for nearly 10 months when it gapped down. It continued to move lower until finding support in mid-March. Since then it has reversed higher and is stalling coming into the new week. The RSI is level at the mid line after a move up with the MACD rising but negative. Look for a push over resistance to participate…..

Flowserve, Ticker: $FLS

Flowserve, $FLS, started to roll over when the New Year began. It picked up speed into March, and found support mid-month. Since then it has slowly moved higher and is meeting resistance. The RSI is rising but in the bearish zone with the MACD rising. Look for a push over resistance to participate…..

Merck, Ticker: $MRK

Merck, $MRK, started lower from a top in December. It paused in early March and then continued lower to a bottom 2 weeks ago. Since then it has been moving higher. Now at resistance, the RSI is at the mid line with the MACD rising. Look for a push through resistance to participate…..

If you like what you see sign up for more ideas and deeper analysis using the Get Premium link.  

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 in a week with record unemployment filings and a non-farm payroll report that ended a 10 year streak of adding jobs, saw equity markets show resilience on the mid to large cap side, not so much for the small caps.

Elsewhere looks for Gold to continue to move higher while Crude Oil reverses to the upside to join it. The US Dollar Index is also moving to the upside while US Treasuries push back towards all-time highs. The Shanghai Composite looks to consolidate in a broad range while Emerging Markets head lower.

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

Fastenal, Ticker: $FAST

Fastenal, $FAST, gapped higher in October and then went into a 3½ month consolidation. Now it is approaching support with the RSI falling to the bearish zone with the MACD dropping and negative. Look for a push under support to participate…..

Flowserve, Ticker: $FLS

Flowserve, $FLS, bounced off of a bottom in August, stalling on a gap fill in September. It turned lower again but found support at a higher low and reversed. After making a higher high in early November it has consolidated. The RSI is falling into the bearish zone with the MACD falling and negative. Look for a break of support to participate…..

Garmin, Ticker: $GRMN

Garmin, $GRMN, started higher in August, and after a gap up in October fell into consolidation. It made an attempt to push higher last month but fell back and is nearing support. The RSI is falling through the mid line with the MACD crossed down and dropping. Look for a break of support to participate…..

Jazz Pharmaceuticals, Ticker: $JAZZ

Jazz Pharmaceuticals, $JAZZ, started higher off of a low in October. It continued to a peak in November and then settled into consolidation. The price is testing the bottom of consolidation with the RSI falling to the bearish zone and the MACD dropping and negative. Look for a break of support to participate…..

Zoetis, Ticker: $ZTS

Zoetis, $ZTS, started moving higher again in November and reached a top last month. It pulled back and bounced then started a second step down at the end of last week. The RSI is falling toward the bearish zone with the MACD crossed down and falling. Look for continuation under support to participate…..

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 month of the year in the books, saw equity markets had finally stalled and started to retrace after a long strong run in the 4th Quarter and into January.

Elsewhere look for Gold to continue to move higher while Crude Oil tests the lower end of a broad consolidation channel. The US Dollar Index looks better to the downside while US Treasuries head towards the all-time highs. The Shanghai Composite looks to re-open with a bias lower compounded by a week of pent up news while Emerging Markets continue a short term downtrend.

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

Anthem, Ticker: $ANTM

Anthem, $ANTM, moved up out of consolidation in June. It continued higher through a series of tops to one in October. It pulled back from there and then made a higher high into November. A small pullback and reversal sees it back at the high. The RSI is rising and bullish with the MACD moving higher. Look for a new high to participate.....

Cboe Global, Ticker: $CBOE

Cboe Global, $CBOE, had a failed break out in September come back to a higher low and then reversed. It moved up through resistance and over the 200 day SMA to a higher high at the end of October. The pullback from there found support and is now reversing back higher. The RSI is also reversing up off of the mid line with the MACD leveling. Look for continuation to participate higher.....

Flowserve, Ticker: $FLS

Flowserve, $FLS, rose up off of a base in July and continued to a top in September. It pulled from there to a higher low, just under the 20 day SMA and bounced in October. The bounce stalled a lower high and it suffered a quick pull back. At the end of last week it started to reverse higher again. The RSI is moving higher as well with the MACD rising toward positive. Look for continuation to participate higher.....

Graco, Ticker: $GGG

Graco, $GGG, fell from a third tap at resistance in September and accelerated to the downside. It found a bottom 1 month later in October over 20% lower. The bounce from there was strong and reached the 50 day SMA before receding in a digestive move. Now it is back at that resistance. The RSI is rising and bullish with the MACD turning positive. Look for continuation to participate.....

ON Semiconductor, Ticker: $ON

ON Semiconductor, $ON, had a long run higher until it started to make a sloppy top in February. It started to move lower in June and found a bottom at the end of October. Since then it has bounced to the 50 day SMA and met resistance. It pulled back slightly and is now back at resistance. The RSI is rising and bullish with the MACD positive and rising. Look for a break of resistance to participate higher.....

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 November Options Expiration in the rear view mirror and traders looking forward to a short Thanksgiving week, sees equity markets hinting at reversing higher.

Elsewhere look for Gold to continue in its short term uptrend while Crude Oil pauses in its downtrend. The US Dollar Index is resuming its move higher while US Treasuries continue to consolidate in their downtrend. The Shanghai Composite is staging a possible reversal while Emerging Markets are trying to buck their downtrend.

Volatility looks to remain slightly elevated but drifting lower, easing the downward pressure on the equity index ETF's SPY, IWM and QQQ. Their charts show some signs of reversing in the short timeframe, while on the longer timeframe the consolidation is more obvious. Use this information as you prepare for the coming week and trad'em well.

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EARNING UPDATE $FLS Flowserve Corporation for quarter ending q_Dec17 – Revenue fell, Margins contracted

[s2If !current_user_can(access_s2member_level0)]Please login to read the earning update on FLS [lwa][/s2If][s2If current_user_can(access_s2member_level0)]Flowserve Corporation reported earnings (EPS) of -0.81 per share for the quarter ending q_Dec17. This is vis-vis 0.36 per share for the previous quarter ending q_Sep17, a decline of 325 %. Compared to last year same quarter (q_Dec16), earnings…

EARNING UPDATE $FLS Flowserve Corporation for quarter ending q_Sep17 – Revenue grew, Margins expanded

[s2If !current_user_can(access_s2member_level0)]Please login to read the earning update on FLS [lwa][/s2If][s2If current_user_can(access_s2member_level0)]Flowserve Corporation reported earnings (EPS) of 0.36 per share for the quarter ending q_Sep17. This is vis-vis 0.32 per share for the previous quarter ending q_Jun17, a growth of 12.5 %. Compared to last year same quarter (q_Sep16), earnings…

$RF and $FRC hit long price targets, $CIT and $FLS hit short sale stop loss levels

This is an update to our model portfolio report, 23 Stocks for November 2016.

Theoretical long positions in Regions Financial Corp. (RF) and First Republic Bank (FRC) will be assumed closed at the end of trading tomorrow after hitting their price targets. 

Theoretical short positions in CIT Group, Inc. (CIT) and Flowserve Corp. (FLS) will be assumed closed at the end of trading tomorrow after reaching stop loss levels.

Stocks seem to be continuing their climb on expectations for a less regulatory business environment and infrastructure spending under a Trump presidency.

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