#$met

MetLife, $MET, comes into the week approaching resistance and moving over its 200 day SMA. It has a RSI moving higher in the bullish zone and a MACD level and positive. There is resistance at 78.25 and 79.25 then 80 and 82 before 83.50 and 84.50. Support lower is at 77 and 76. Short interest is low at 2.3%. The stock pays a dividend with an annual yield of 2.92% and has traded ex-dividend since February 3rd.

The company is expected to report earnings next on May 6th. The May options chain sports the biggest open interest at the 70 and 60 strikes on the put side and at 80 on the call side. In the June chain it is spread from 80 to 62.50 on the put side, biggest at the 75 strike. On the call side it is biggest at 80. Finally, in the September chain open interest is biggest at the 65 put and 77.50 call strikes.

Trade Idea 1: Buy the stock on a move over 78.25 with a stop at 75.50.

Trade Idea 2: Buy the stock on a move over 78.25 and add a May 75/70 Put Spread ($1.55) while also selling the June 82.50 Calls ($1.05).

Trade Idea 3: Buy the May/June 82.50 Call Calendar ($1.40) while selling the June 70 Puts (95 cents).

Trade Idea 4: Buy the September 67.50/80/87.50 Call Spread Risk Reversal (40 cents).

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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 one week left in April and ceasefire talks set in Pakistan, saw equities show continued strength driving to new all-time highs for the second week in a row.

Elsewhere, look for Gold to continue recovering from the pullback but testing traders patience while Crude Oil attempts to right itself after last week’s freefall. The US Dollar Index looks to continue to drift in consolidation while US Treasuries continue to hold over 16 month support like nothing is happening. The Shanghai Composite looks to continue a short term uptrend closing in on the 2025 top while Emerging Markets push to new highs in their uptrend.

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

Automatic Data Processing, Ticker: $ADP

Automatic Data Processing, $ADP, comes into the week pressing against resistance. it has a RSI rising at the midline with the MACD crossed up but negative. Look for a push over resistance to participate…..

CME Group, Ticker: $CME

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

Graco, Ticker: $GGG

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

MetLife, Ticker: $MET

MetLife, $MET, comes into the week at resistance. It has a RSI moving higher with the MACD positive and rising. Look for a break of resistance to participate…..

Altria, Ticker: $MO

Altria, $MO, 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…..

If you like what you see sign up for more ideas and deeper analysis using this 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 with the February options expiration in the books, saw equity markets showing resilience holding up well despite an onslaught of negative inflation news and shifting narrative to further FOMC tightening.

Elsewhere look for Gold to continue its short term pullback while Crude Oil consolidates in a tight range. The US Dollar Index continues to drift to the upside in the downtrend while US Treasuries continue a short term downtrend. The Shanghai Composite looks to continue the pullback in consolidation while Emerging Markets pullback in their uptrend.

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

General Dynamics, Ticker: $GD

General Dynamics, $GD, started higher in December and continued to a top in April. It pulled back to a higher low at the end of May and then reversed higher again. This move ended near the prior high and it dropped back again. It has been consolidating at a higher low for the past month. The RSI is rising toward the bullish zone with the MACD lifting as well. Look for a break of consolidation to participate…..

MetLife, Ticker: $MET

MetLife, $MET, ran to a top in July out of a short consolidation in the spring. Since then it has made a couple of higher lows and a lower high, tightening in a triangle. It ended last week at the top of the triangle and short term resistance. The RSI is rising and bullish with the MACD positive and moving higher. Look for a break higher to participate…..

Pfizer, Ticker: $PFE

Pfizer, $PFE, broke a symmetrical triangle and moved higher last week. It stalled and consolidated with the RSI bullish and near overbought while the MACD rises. Look for a break of consolidation to participate…..

Union Pacific, Ticker: $UNP

Union Pacific, $UNP, made a top in early May and has been unable to move higher since. it began making lower lows with the latest in October. Since then it has moved higher, and broke a bull flag last week. The RSI is rising and bullish with the MACD rising and positive. Look for a push over short term resistance to participate…..

Visa, $V

Visa, $V, started higher off of a bottom in December. It continued to a top in July and then pulled back. Another surge made it to a higher high in September before pulling back again.Since then it has consolidated under resistance with the RSI rising and bullish and the MACD positive and moving up. Look for continuation over resistance 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 another FOMC meeting in the books and the calendar turning to November sees equities are breaking to new highs.

Elsewhere look for Gold to consolidate in its uptrend while Crude Oil consolidates as well. The US Dollar Index is consolidating at support in a rising channel while US Treasuries consolidate in their downtrend. The Shanghai Composite continue in a tightening consolidation while Emerging Markets move to the upside in their broad consolidation.

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

American Express, Ticker: $AXP

American Express, $AXP, made a top 2 weeks ago after a long run higher from a December low. Friday it closed on the 50 day SMA and at a lower low. The RSI is at the lower edge of the bullish zone with the MACD falling but positive. Look for a push under prior resistance to participate…..

Exact Sciences, Ticker: $EXAS

Exact Sciences, $EXAS, started moving higher at the end of last week out of consolidation. The RSI is rising in the bullish zone with the MACD crossed up and positive. Look for a push over resistance to participate…..

Gardner Denver, Ticker: $GDI

Gardner Denver, $GDI, was a Top 10 last week and failed to break higher. Instead it fell out of an ascending triangle. Now it is near support to the downside. The RSI is pulling back with the MACD crossed down and dropping. Look for a drop through support to participate…..

MetLife, Ticker: $MET

MetLife, $MET, made a move higher from a March low. That topped with a blow off candle May 21st while in consolidation. It ended last week breaking down through support. The RSI is falling in the bullish zone with the MACD crossed down and dropping. Look for continuation to participate…..

Radian Group, Ticker: $RDN

Radian Group, $RDN, started higher in December, paused in February and then continued to a top at the beginning of May. It pulled back to the 50 day SMA from there and found support. A small bounce met quick resistance and it held until it lost ground at the end of last week. The RSI is holding in the low end of the bullish zone with the MACD flat at zero. Look for a drop through 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 five months of 2019 in the books, sees equity markets have given back half of their gains from the peak at the end of April.  

Elsewhere look for Gold to continue in its uptrend while Crude Oil continues lower. The US Dollar Index continues to drift higher while US Treasuries are very strong but overbought. The Shanghai Composite continues to consolidate in its downtrend while Emerging Markets may be reversing back higher.

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

AstraZeneca, Ticker: $AZN

AstraZeneca, $AZN, moved lower with pace starting in September. It crossed down through its 200 day SMA in October and continued until finding a bottom in December. Since then it has crept higher in a series of higher highs and higher lows. Friday saw it make another higher high and peek above its 200 day SMA. The RSI is bullish and rising while the MACD is flat. Look for continuation to participate higher.....

International Paper, Ticker: $IP

International Paper, $IP, moved higher out of consolidation in July. That move stalled out in September and it pulled back to the prior consolidation area. It settle for a few days before surging higher, making a higher high in December, before consolidating. A failed break to the upside in January came back to that consolidation and held there since. Last week saw a move to the top of the range with the RSI pushing through the mid line and the MACD crossing up and rising. Look for continuation to participate higher.....

MetLife, Ticker: $MET

MetLife, $MET, started higher in July finding a top 60% higher in December. Since then it has pulled back in a falling channel. Last week saw it touch the 100 day SMA and bounce higher. It ended the week at the top of the channel with the RSI rising and on the edge of a move into the bullish zone while the MACD is turning up. Look for a push above the channel to participate higher.....

Royal Bank of Canada, Ticker: $RY

Royal Bank of Canada, $RY, pulled up from consolidation in November. It has been moving higher ever since. It made a short term top in February and pulled back to support, where it enters the new week. The RSI is turning back higher but the MACD is falling. Look for confirmation higher to participate.....

Williams, Ticker: $WMB

Williams, $WMB, had a strong run higher from a low last April. That met resistance in September and consolidated with a slight upward drift for the next 4 months. In January it gapped lower and held there in consolidation until breaking higher Friday. The RSI is making a new high as it rises as well and the MACD is crossed up and rising. Look for continuation 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 heading into the first full week of March sees the equity markets have entered more like a lion than a lamb.

Elsewhere look for Gold to continue the pullback in its uptrend while Crude Oil consolidates with a bias for a break to the downside. The US Dollar Index looks to continue higher short term while US Treasuries continue to consolidate in their downtrend. The Shanghai Composite continues to drift higher while Emerging Markets pullback in their uptrend.