#$mmm

3M, $MMM, comes into the week pushing through resistance. This is recent and a retest of the 2021 high, forming a Cup and Handle pattern with a target to 272. The RSI is rising in the bullish zone with the MACD about to turn positive. There is resistance higher from 2019 at 176.50 and 180.50 then 182 and 183.75 before looking to 2018 at 186.50 and 189 then 194 and 196. Support lower is at 172.50 and 169.50 then 167. Short interest is low at 1.4%. The stock pays a dividend with an annual yield of 1.81% and will trade ex-dividend February 13th.

The company is expected to report earnings next on April 20th. The February options chain shows biggest open interest at the 155 put and 170 call strikes. In the March chain it is biggest spread from 130 to 180 on the put side, biggest at 160, while it is enormous at the 150 call strike. The April chain has biggest open interest at the 1665 put and 160 call strikes.

Trade Idea 1: Buy the stock on a move over 173.50 with a stop at 166.50.

Trade Idea 2: Buy the stock on a move over 173.50 and add a March 170/160 Put Spread ($3.50) while selling the April 190 Calls ($1.80).

Trade Idea 3: Buy the March/April 185 Call Calendar ($1.73) and sell the March 155 Puts ($1.21).

Trade Idea 4: Buy the April 160/175/190 Call Spread Risk Reversal ($2.25).

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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 February in the books, saw equity markets show resilience recovering after a midweek trip up in a data light week.

Elsewhere, look for Gold to regroup around $5000/oz digesting the long move up while Crude Oil moves sideways in the consolidation range. The US Dollar Index is showing some strength rising off a 4 year low while US Treasuries continue to hold in the lower end of the consolidation zone and looking better lower. The Shanghai Composite looks to be pausing in the uptrend while Emerging Markets have reset momentum gauges look ready for new all-time highs in their uptrend.

3M, $MMM, comes into the week approaching resistance at what was prior support. This coincides with the 50 day SMA. It is also over the 200 day SMA. The Bollinger Bands® have squeezed in, often a precursor to a big move. It has a RSI rising off the midline with the MACD negative but rising toward zero. There is resistance at 143.50 and 148 then 150.50 and 153.50 before 155.50 and finally 162.50 from 2021. Support lower is at 139 and 135.50. Short interest is low at 1.9%. The stock pays a dividend with an annual yield of 2.06% and has traded ex-dividend since February 14th.

The company is expected to report earnings next on July 24th. The May options chain shows biggest open interest at the 140 and 145 put strikes, and at 150 then 140 on the call side. The June chain has biggest open interest at the 110 and then 115 put strikes, and from 150 to 160 on the call side. The July chain has biggest open interest at the 130 put strike and sees it spread from 130 to 175 on the call side. Finally, the September chain, the first to cover the next earnings report, show little open interest on the put side, but enormous size at the 125 call strike.

Trade Idea 1: Buy the stock on a move over 144 with a stop at 138.

Trade Idea 2: Buy the stock on a move over 144 and add a June 140/130 Put Spread ($3.00) while selling the September 165 Calls ($2.55).

Trade Idea 3: Buy the June/July 150 Call Calendar ($1.60) while selling the June 130 Put ($1.60).

Trade Idea 4: Buy the September 125/145/160 Call Spread Risk Reversal ($2.00).

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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 that saw with April in the books and the FOMC meeting next week, equity markets signaled that the bottom is in for this correction.

Elsewhere look for Gold to continue to digest its historic move higher while Crude Oil resumes a new downtrend under support. The US Dollar Index remains in a short term downtrend, failing to continue a reversal, while US Treasuries consolidate the downtrend. The Shanghai Composite looks to continue to consolidate in a tight range while Emerging Markets are poised for more upside in broad consolidation nearing resistance.

Here is your Bonus Idea with links to the full Top Ten:

3M, $MMM, comes into the week approaching resistance. This is after a shallow pullback that reset the momentum gauges lower. It has a RSI rising in the bullish zone with the MACD positive and about to cross up. There is resistance at 155.50 and then back in 2021 at 160 and 162 then 165 and 169 before 170 and 173. Support lower is at 153 and 148. Short interest is low at 1.4%. The stock pays a dividend with an annual yield of 1.94% and has traded ex-dividend since February 14th.

The company is expected to report earnings next on April 28th. The March options chain shows biggest open interest at the 145 then 150 strikes on the put side. On the call side it is biggest at 150 and 155 then 165. The April chain has open interest spread from 160 down to 120, biggest at 140, on the put side. On the call side it is focused at 160. Finally, the May chain has open interest spread from 160 to 135, biggest at 155, on the put side. It is spread from 140 to 165, biggest at 150 on the call side.

Trade Idea 1: Buy the stock on a move over 155.50 with a stop at 148.

Trade Idea 2: Buy the stock on a move over 155.50 and add a March 150 Put ($2.10) while selling the April 165 Calls ($1.82).

Trade Idea 3: Buy the April/May 160 Call Calendar ($4.05) while selling the April 145 Put ($1.50).

Trade Idea 4: Buy the May 145/160/170 Call Spread Risk Reversal ($1.00).

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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 month of February in the books, saw equity markets end with a seasonally weak period, raising the fear factor.

Elsewhere look for Gold to pause in its march higher while Crude Oil consolidates in the bottom of a broad range. The US Dollar Index looks to try to rebound to the upside while US Treasuries show some short term strength in consolidation. The Shanghai Composite looks to consolidate in the recent move higher while Emerging Markets shift to a short term move lower.

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

American Express, Ticker: $AXP

American Express, $AXP, comes into the week testing resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Cummins, Ticker: $CMI

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

GE Aerospace, Ticker: $GE

GE Aerospace, $GE, comes into the week breaking resistance. The RSI is bullish with the MACD positive. Look for continuation to participate…..

3M, Ticker: $MMM

3M, $MMM, 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…..

Microsoft, Ticker: $MSFT

Microsoft, $MSFT, comes into the week approaching resistance. It has a bullish RSI and a positive MACD. 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 heading into the September FOMC meeting and Options Expiration, saw equity markets showing strength with a rebound from the week prior.

Elsewhere look for Gold to continue its uptrend while Crude Oil consolidates in a short term downtrend. The US Dollar Index continues to drift lower in consolidation while US Treasuries are on the edge of a reversal to an uptrend. The Shanghai Composite looks to continue the downtrend while Emerging Markets consolidate.

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

Abbvie, Ticker: $ABBV

Abbvie, $ABBV, 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…..

Abbott Laboratories, Ticker: $ABT

Abbott Laboratories, $ABT, comes into the week at resistance. It has a RSI in the bullish zone with the MACD crossed up. Look for a push over resistance to participate…..

Capital One Financial, Ticker: $COF

Capital One Financial, $COF, comes into the week moving higher. It has a RSI at the midline with the MACD crossing up. Look for continuation to participate…..

Honeywell, Ticker: $HON

Honeywell, $HON, 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…..

3M, Ticker: $MMM

3M, $MMM, 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…..

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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 in the books, saw equity markets were mixed with the large caps and tech heavy Nasdaq showing renewed strength while small caps continue to flounder.

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

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

Century Aluminum, Ticker: $CENX

Century Aluminum, $CENX, comes into the week pushing up from support. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Gilead Sciences, Ticker: $GILD

Gilead Sciences, $GILD, comes into the week rounding out of a recent bottom. The RSI is rising with the MACD crossed up. Look for continuation to participate…..

Interactive Brokers, Ticker: $IBKR

Interactive Brokers, $IBKR, comes into the week pulling back from a top. It has a RSI dropping out of overbought territory with the MACD crossed down. Look for continuation to participate…..

3M, Ticker: $MMM

3M, $MMM, comes into the week rolling up out of a pullback. It has a RSI at the midline with the MACD rising. Look for continuation to participate…..

Zillow, Ticker: $Z

Zillow, $Z, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD slightly 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 heading into the March options expiration week, saw equity markets showed some fatigue.

Elsewhere look for Gold to continue its uptrend while Crude Oil consolidates in a tighter range. The US Dollar Index looks better to the downside while US Treasuries bounce in their downtrend. The Shanghai Composite looks to continue the short term move higher while Emerging Markets move up in consolidation.

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 at resistance. It has a RSI entering the bullish zone with the MACD positive. look for a push over resistance to participate…..

General Dynamics, Ticker: $GD

General Dynamics, $GD, comes into the week breaking short term resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

JP Morgan Chase, Ticker: $JPM

JP Morgan Chase, $JPM, 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…..

3M, Ticker: $MMM

3M, $MMM, comes into the week attempting to move up off a bottom and near resistance. It has a RSI rising toward the bullish zone with the MACD positive. Look for a break over resistance to participate…..

NetApp, Ticker: $NTAP

NetApp, $NTAP, 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 June Quadruple Witching and FOMC meetings in the books, saw equity markets show continued strength.

Elsewhere look for Gold to continue its consolidation under 2000 while Crude Oil consolidates in a broad range. The US Dollar Index continues to drift lower in the broad consolidation while US Treasuries also move sideways. The Shanghai Composite looks to continue the short term move higher while Emerging Markets move up in consolidation.