McKesson, $MCK, comes into the week at resistance and just short of confirming a double bottom. The Bollinger Bands® are starting to shift to the upside to allow a move. The RSI is rising through the midline toward the bullish zone with the MACD rising and negative. There is resistance at 782.50 and 800 before 812 and 826 then 844 and 858. Support lower is at 770 and 752. Short interest is low at 2.4%. The stock pays a dividend with an annual yield of 0.42% and has traded ex-dividend since June 1st.

The company is expected to report earnings next on August 4th. The June options chain shows open interest spread from 820 down to 700 on the put side and spread from 750 to 860 on the call side, neither with any firm outstanding strike. The July chain has biggest open interest at the 750 and 700 strikes on the put side and very little open interest on the call side. In the August chain open interest is biggest at the 750 and 730 put strikes and at the 810 and 830 call strikes.

McKesson, TICKER

McKesson, $MCK, comes into the week at resistance and just short of confirming a double bottom. The Bollinger Bands® are starting to shift to the upside to allow a move. The RSI is rising through the midline toward the bullish zone with the MACD rising and negative. There is resistance at 782.50 and 800 before 812 and 826 then 844 and 858. Support lower is at 770 and 752. Short interest is low at 2.4%. The stock pays a dividend with an annual yield of 0.42% and has traded ex-dividend since June 1st.

The company is expected to report earnings next on August 4th. The June options chain shows open interest spread from 820 down to 700 on the put side and spread from 750 to 860 on the call side, neither with any firm outstanding strike. The July chain has biggest open interest at the 750 and 700 strikes on the put side and very little open interest on the call side. In the August chain open interest is biggest at the 750 and 730 put strikes and at the 810 and 830 call strikes.

McKesson, Ticker: $MCK

Trade Idea 1: Buy the stock on a move over 782.50 with a stop at 752.50.

Trade Idea 2: Buy the stock on a move over 782.50 and add a July 770/720 Put Spread ($17.40) while selling the July 820 Calls ($11.60).

Trade Idea 3: Buy the June/July 800 Calls Calendar ($13.40) and sell the July 730 Puts ($10.10).

Trade Idea 4: Buy the August 720/800/850 Call Spread Risk Reversal ($1.60).

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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 June and the strong May employment report in the books, saw sentiment shifting in the equity markets after starting the week at all-time highs.

Elsewhere, look for Gold to continue a short term downtrend while Crude Oil falls in consolidation under $100/bbl, near a change of character to a downtrend. The US Dollar Index looks to continue to move higher in broad consolidation near the top of the range while US Treasuries continue to test support in consolidation after avoiding a shift in character. The Shanghai Composite looks to continue digestion in the short term uptrend, on the edge of a shift to downtrend, while Emerging Markets pull back in their uptrend.

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

Alcoa, $AA, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…

Coinbase, $COIN, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…

eBay, $EBAY, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…

McKesson, $MCK, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…

Walmart, $WMT, 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…

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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 May Options Expiration in the books, saw equity markets display strength gapping up and then running higher.

Elsewhere look for Gold to continue its digestion in the uptrend while Crude Oil continues to trend lower. The US Dollar Index continues a short term move to the upside while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue in consolidation while Emerging Markets are on the cusp of breaking consolidate to the upside.

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

Bank of New York Mellon, Ticker: $BK

Bank of New York Mellon, $BK, comes into the week approaching the recent all-time high. It has a RSI in the bullish zone with the MACD positive. Look for a push to a new high to participate…..

Salesforce, Ticker: $CRM

Salesforce, $CRM, 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…..

Fastenal, Ticker: $FAST

Fastenal, $FAST, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

General Electric, Ticker: $GE

General Electric, $GE, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

McKesson, Ticker: $MCK

McKesson, $MCK, comes into the week rounding up toward 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 three trading days left in July, saw large cap and tech focused index equity markets showing weakness with small caps continuing to hold strong.

Elsewhere look for Gold to continue its consolidation in the uptrend while Crude Oil consolidates in a tightening range. The US Dollar Index continues to drift in broad consolidation while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue the short term move lower while Emerging Markets continue to hold their newfound short term uptrend.

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

Abbvie, Ticker: $ABBV

Abbvie, $ABBV, comes into the week rounding out of a pullback from a top in March. It has a RSI rising through the midline with the MACD moving up. Look for continuation to participate…..

Bath & Body Works, Ticker: $BBWI

Bath & Body Works, $BBWI, 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…..

Comerica, Ticker: $CMA

Comerica, $CMA, 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…..

Crowdstrike, Ticker: $CRWD

Crowdstrike, $CRWD, comes into the week holding over support. It has a RSI rising in the bullish zone with the MACD positive. Look for continuation to participate…..

McKesson, Ticker: $MCK

McKesson, $MCK, comes into the week at an all-time high. 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 May options expiry in the books, saw equity markets with renewed strength moving to new all-time highs.

Elsewhere look for Gold to continue its uptrend while Crude Oil consolidates in a pullback. The US Dollar Index continues to pullback in its short term uptrend while US Treasuries bounce in their downtrend. The Shanghai Composite looks to continue the short term move higher while Emerging Markets build a short term uptrend.

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

Costco, Ticker: $COST

Costco, $COST, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Eaton, Ticker: $ETN

Eaton, $ETN, comes into the week breaking resistance. The RSI is in the bullish zone with the MACD positive and climbing. Look for continuation to participate…..

McKesson, Ticker: $MCK

McKesson, $MCK, comes into the week breaking to an all-time high. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate….

Meta Platforms, Ticker: $META

Meta Platforms, $META, comes into the week breaking resistance. The RSI is in the bullish zone with the MACD positive. Look for continuation to participate…..

Netflix, Ticker: $NFLX

Netflix, $NFLX, 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…..

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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 full week of November in the books, saw midcap and large cap equity markets showed continued strength after a slow consolidating start.

Elsewhere look for Gold to continue its pullback while Crude Oil joins it with a turn to the downside. The US Dollar Index continues to drift in consolidation while US Treasuries bounce in their downtrend. The Shanghai Composite looks to continue its bounce as well while Emerging Markets consolidate.

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

CF Industries, Ticker: $CF

CF Industries, $CF, comes into the week at resistance. It has a RSI rising in the bullish zone and a MACD positive and climbing. Look for a push over resistance to participate…..

Honeywell, Ticker: $HON

Honeywell, $HON, comes into the week pressing on resistance. The RSI is in the bullish zone with the MACD rising and positive. Look for a push over resistance to participate…..

Interactive Brokers, Ticker: $IBKR

Interactive Brokers, $IBKR, comes into the week approaching resistance. It has a RSI rising in the bullish zone and a MACD positive and moving higher. Look for a push over resistance to participate…..

McKesson, Ticker: $MCK

McKesson, $MCK, comes into the week at an all-time high. The RSI is rising in the bullish zone and the MACD is climbing. Look for continuation to participate…..

Vertex Pharmaceuticals, Ticker: $VRTX

Vertex Pharmaceuticals, $VRTX, comes into the week rising towards resistance. It has a RSI rising in the bullish zone with the MACD turning back higher. 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 first week in August over, saw equity markets continue to show strength on both timeframes and on the cusp of a full blown reversal.

Elsewhere look for Gold to continue its short term move higher while Crude Oil moves lower short term. The US Dollar Index continues in a short term move lower while US Treasuries pullback in consolidation. The Shanghai Composite looks to continue in consolidation while Emerging Markets consolidate in the downtrend.

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

Conagra, Ticker: $CAG

Conagra, $CAG, comes into the week reversing from a top. It has a RSI falling out of overbought with the MACD leveling. Look for continuation to participate…..

Cigna, Ticker: $CI

Cigna, $CI, comes into the week pulling back from a top. It has as RSI dropping in the bullish zone with the MACD about to cross down. Look for continuation to participate…..

Cleveland-Cliffs, Ticker: $CLF

Cleveland-Cliffs, $CLF, comes into the week breaking a flag lower. The RSI is dropping through the midline with the MACD falling. Look for continuation to participate…..

McKesson, Ticker: $MCK

McKesson, $MCK, comes into the week pulling back from an all-time high. The RSI is also falling out of overbought territory with the MACD crossed down. Look for continuation to participate…..

Switch, Ticker: $SWCH

Switch, $SWCH, comes into the week dropping out of a channel. The RSI is falling at the midline with the MACD dropping. 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 1st Quarter earnings reports starting to pick up, saw equity markets starting to turn ugly.

Elsewhere look for Gold to consolidate in its uptrend while Crude Oil consolidates its move higher. The US Dollar Index continues to trend to the upside while US Treasuries trend lower. The Shanghai Composite looks to continue to move lower along with Emerging Markets. The Volatility Index looks to remain elevated and possibly moving higher still making the path harder for equity markets to the upside.

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

Anthem, Ticker: $ANTM

Anthem, $ANTM, comes into the week at support after a pullback. The RSI is falling through the midline with the MACD dropping. Look for a drop through support to participate…..

ConocoPhillips, Ticker: $COP

ConocoPhillips, $COP, comes into the week pulling back from a top and making short term support. The RSI is dropping through the midline with the MACD turning down and about to go negative. Look for a push through support to participate…..

McKesson, Ticker: $MCK

McKesson, $MCK, comes into the week at support. The RSI is running lower with the MACD crossed down. Look for a break of support to participate…..

Old Dominion Freight Line, Ticker: $ODFL

Old Dominion Freight Line, $ODFL, comes into the week in consolidation over support. The RSI is trending lower with the MACD crossed down. Look for a break of support to participate…..

Regeneron Pharmaceuticals, Ticker: $REGN

Regeneron Pharmaceuticals, $REGN, comes into the week dropping to support. It has a RSI rolling lower with the MACD about to cross down. Look for a push through support 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 2 trading days left in November, saw equity markets  showing some degree of weakness in the short term.

Elsewhere look for Gold to consolidate after a pullback while Crude Oil pulls back from multi-year highs. The US Dollar Index continues to trend to the upside while US Treasuries consolidate. The Shanghai Composite looks to continue in broad consolidation while Emerging Markets extend losses in a downtrend.

The Volatility Index looks to remain elevated making the path more difficult for equity markets to the upside. Their charts remain mixed with the SPY and QQQ stronger than the IWM. For the strong ones, they continue to look stronger on the longer timeframe. On the shorter timeframe both the QQQ and SPY are resetting momentum measures and at risk for more pullback.