#$odfl

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

Affirm, $AFRM

Affirm, $AFRM, comes into the week rising above consolidation. It has an RSI in the bullish zone and the MACD positive and crossed up. Look for continuation to participate…

Dexcom, $DXCM

Dexcom, $DXCM, comes into the week approaching resistance. It has an RSI in the bullish zone and a MACD positive period look for a pushover resistance to participate…

Gilead Sciences, $GILD

Gilead Sciences, $GILD, comes into the week approaching resistance. It has an RSI at the edge of the bullish zone with the MACD about to turn positive. Look for a push over resistance to participate…

Old Dominion Freight Lines, $ODFL

Old Dominion Freight Lines, $ODFL, comes into the week approaching resistance. It has an RSI in the bullish zone and a MACD positive period look for a push over resistance to participate…

UPS, $UPS

UPS, $UPS, comes into the week approaching resistance. It has an RSI in the bullish zone and a MACD rising and 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 month of May in the books and heading into a non-farm payroll week, saw equities continue to show strength, printing more new all-time highs.

Elsewhere, look for Gold to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil bounces around in tightening consolidation around $100/bbl but near a change of character to a downtrend. The US Dollar Index looks to continue to drift higher in broad consolidation 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 while Emerging Markets make new highs in their uptrend.

The Volatility Index looks to continue lower in the normal zone, giving a tailwind to equities. The charts of the SPY, the QQQ and the IWM continue to look extremely strong on the longer timeframe with a 9th positive week for the SPY. On the shorter timeframe the SPY, the QQQ and the IWM also look very strong, with all printing all-time highs to start the week and then again Thursday. The SPY and QQQ ended with a 3rd record while the IWM was just short of joining them. Use this information as you prepare for the coming week and trad’em well.

Old Dominion Freight Line, $ODFL, comes into the week breaking resistance to a new all-time high. The RSI is rising in the bullish zone with the MACD crossing up and positive. The Bollinger Bands® may be opening to the upside. There is no resistance higher. Support below 224.50 sits at 218 and 214 before 210. Short interest is low at 2.2%. The stock pays a small dividend yielding 0.46% and has traded ex-dividend since March 5th. 

The company is expected to report earnings next on April 24th. The April options chain has open interest spread from 220 to 195 on the put side. The call side has it focused at 220 then 230. In the May chain the is a slug at 205 on the put side and at 215 and 220 on the call side. Finally, the June chain sees open interest focused from 195 to 185 on the put side and at 250 and 260 on the call side.

Old Dominion Freight Line, Ticker: $ODFL

Trade Idea 1: Buy the stock on a move over 225 with a stop at 216.

Trade Idea 2: Buy the stock on a move over 225 and add a May 220/205 Put Spread ($5.55) while selling the May 240 Call ($4.40).

Trade Idea 3: Buy the April/May 230 Call Calendar ($5.90) while selling the May 205 Put ($2.35).

Trade Idea 4: Buy the June 210/230/250 Call Spread Risk Reversal ($1.70).

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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 April in the books, saw equity markets in need of a rest.

Elsewhere looked for Gold to continue its record run higher while Crude Oil continue its move to the upside as well. The US Dollar Index to continue the short term trend to the upside while US Treasuries may resume their downtrend. The Shanghai Composite looks to continue the short term move higher while Emerging Markets consolidate under long term resistance.

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.

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

Chemed, Ticker: $CHE

Chemed, $CHE, comes into the week reversing after a quick drop from the start of October. The RSI is rising out of oversold territory with the MACD curling up towards a cross. Look for continuation to participate…..

Cognizant Technology Solutions, Ticker: $CTSH

Cognizant Technology Solutions, $CTSH, comes into the week breaking over resistance. The RSI is rising and bullish with the MACD crossed up. Look for continuation to participate…..

FedEx, Ticker: $FDX

FedEx, $FDX, comes into the week rounding up out of a bottom. The RSI is rising out of oversold territory with the MACD crossed up. Look for continuation to participate…..

Old Dominion Freight Lines, Ticker: $ODFL

Old Dominion Freight Lines, $ODFL, comes into the week at resistance. The RSI is rising in the bullish zone with the MACD crossed up and positive. Look for a push through to participate…..

Sealed Air, Ticker: $SEE

Sealed Air, $SEE, comes into the week pushing up towards resistance. It has an RSI rising through the midline with the MACD crossed up and climbing towards 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. This week’s list contains the first five below to get you started early.  These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with the October options expiration in the books, saw equity markets showing signs of a rebound from an ugly 10 week stretch.

Elsewhere look for Gold to continue in consolidation while Crude Oil continues in an uptrend. The US Dollar Index continues its short term move to the upside while US Treasuries are in position to possible reverse to the upside. The Shanghai Composite looks to continue the broad drift sideways while Emerging Markets trend lower.

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

KKR, Ticker: $KKR

KKR, $KKR, started to slow in its move higher as it passed the February high in July. It morphed into a consolidation range and held there until breaking higher at the end of last week. The RSI is in the bullish zone with the MACD crossed up and positive. Look for continuation to participate…..

Old Dominion Freight Line, Ticker: $ODFL

Old Dominion Freight Line, $ODFL, continued to move off a March low until meeting resistance in early September. Since then it has moved in a broad consolidation. It ended last week at resistance with the RSI rising in the bullish zone and the MACD positive and climbing. Look for a push over resistance to participate…..

The Bancorp, Ticker: $TBBK

The Bancorp, $TBBK, broke over resistance in May and ran to a top in early June. It pulled back from there and settled eventually into a consolidation. It ended last week at resistance with the RSI rising in the bullish zone and the MACD lifting off of zero. Look for a push through resistance to participate…..

Waste Connections, Ticker: $WCN

Waste Connections, $WCN, spiked up in August and could not hold the move, ending the recovery from the March dip. It ran sideways for over 3 months before breaking higher at the end of last week. The RSI is in the bullish zone with the MACD lifting off zero. Look for continuation to participate…..

Walmart, Ticker: $WMT

Walmart, $WMT, whipped around after dropping in March. It moved in a wide range for some time until making a new high in April. From there it pulled back to the 200 day SMA and did not rebound until July. It stalled at the prior high and held until a breakout into September. It pulled back again and has held in a higher range. It comes into the new week at resistance with the RSI rising in the bullish zone and the MACD crossing up. 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 saw an eventful first week of November with a Presidential election, a FOMC meeting and a non-farm payrolls report to attack markets, result in them reacting like champs with impressive moves to the upside all week.

Elsewhere look for Gold to continue its move higher while Crude Oil consolidates in a broad range. The US Dollar Index looks to move lower in consolidation while US Treasuries remain in a downtrend. The Shanghai Composite looks to continue to consolidate while Emerging Markets break out to the upside.

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

Blackstone, Ticker: $BX

Blackstone, $BX, made a bottom in March and started back higher. It oscillated around the 200 day SMA in May and continued up to a top in early June. A pullback stopped just short of the 200 day SMA and it is now moving back to prior resistance. The RSI is rising in the bullish zone with the MACD turning to cross up. Look for a push over resistance to participate…..

Facebook, Ticker: $FB

Facebook, $FB, topped in January and then made a mild pullback. It rebounded to a lower high and then it dropped fast to the March low. Since then it has move up to a new all-time high and then consolidated. The RSI is in the bullish zone and rising after a rest lower, with the MACD level after a pullback. Look for a push through resistance to participate….

Horizon Therapeutics, Ticker: $HZNP

Horizon Therapeutics, $HZNP, made a low in March and then started higher. It made a new high gapping over the prior level in May and continued to a top at the end of the month. A mild pullback found support last week and reversed back higher. The RSI is rising in the bullish zone with the MACD turning to cross up. Look for a push over resistance to participate…..

KKR, Ticker: $KKR

KKR, $KKR, gapped down in February and then proceeded to a low in March. Since then it has moved higher and is now back at the gap. The RSI is rising and bullish with the MACD lifting and positive. Look for a push over resistance to participate…..

Old Dominion Freight Line, Ticker: $ODFL

Old Dominion Freight Line, $ODFL, started higher off of a low in March. As it crossed into May it broke above the February high and continued to a top at the end of May. It pulled back from there and is now rising again. The RSI is rising in the bullish zone with the MACD turning to cross up and 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 June options expiration and quad witching behind, sees equity markets are mixed heading into the last full week of the first half.

Elsewhere look for Gold to continue to consolidate in the uptrend while Crude Oil consolidates in a broad range. The US Dollar Index looks to move to the upside in a reversal while US Treasuries pullback in their drift lower. The Shanghai Composite looks to continue the move higher in consolidation while Emerging Markets consolidate.

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

American Express, Ticker: $AXP

American Express, $AXP, started higher in October, reaching a peak at the beginning of March. It pulled back from there to support and bounced, rising to near the prior high before a second pullback. The price action since January has been a broad consolidation and Friday saw it come to prior resistance mid-way through it. The RSI is rising and the MACD crossed up, both supporting more upside. Look for a push through resistance to participate higher.....

Cigna, Ticker: $CI

Cigna, $CI, made a quick move to the upside after the election and settled in to a brief consolidation in December. It then embarked on a slower grind higher that made a top in early May. It pulled back to the 20 day SMA from there and is now back at the May high. The RSI is rising and bullish while the MACD is crossing up. Look for a push through resistance to participate higher.....

Clorox, Ticker: $CLX

Clorox, $CLX, moved higher from a double bottom in December, meeting resistance at the prior high in March. It pulled back from there, finding support at the 100 day SMA. It ended last week back at the April high. It has a rising RSI in the bullish zone and a MACD that is crossed up and rising. Look for a push over resistance to participate to the upside.....

Kraft Heinz, Ticker: $KHC

Kraft Heinz, $KHC, also rose out of a double bottom in December, topping in February. Since then it has mainly moved sideways, with a pullback to the 200 day SMA quickly reversing. Now it is back at the top of consolidation with a RSI that is bullish and rising and a MACD that is moving up. Look for continuation to participate higher.....

Old Dominion Freight Lines, Ticker: $ODFL

Old Dominion Freight Lines, $ODFL, started higher at the end of June last year. It accelerated after the election in November and then settled into a sideways consolidation where it still sits. The recent activity sees it back at the April high from a higher low. The RSI is bullish and strong with the MACD rising. Look for a push over 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 heading into the first full week of June sees equity markets looking strong.

Elsewhere look for Gold to push higher in consolidation while Crude Oil moves lower in its consolidation. The US Dollar Index continues to look weak and moving lower while US Treasuries are biased higher. The Shanghai Composite remains in consolidation and Emerging Markets are biased to continue higher.

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

Fifth Third Bancorp, Ticker: $FITB

Fifth Third Bancorp, $FITB, dropped hard in August from a consolidation zone. The next few months saw a failed attempt higher and then some consolidation before a move higher in mid October. That found resistance at the prior zone of importance and pulled back. It made a higher low and moved back up through the zone last week. The RSI is rising and bullish and the MACD is rising, both supporting further upside.

Huntington Bancshares, Ticker: $HBAN

Huntington Bancshares, $HBAN, also dropped hard with the market in August and then consolidated for a couple of months. The rise that began in October met resistance at the pre-drop level and pulled back to a higher low at the 20 day SMA, before rising to test it again. The RSI is bullish and rising and the MACD is flat but positive. A new high is an entry signal.

Old Dominion Freight Line, Ticker: $ODFL

Old Dominion Freight Line, $ODFL, has been in a downward channel since March, with the exception of a small period riding the top of the channel as support in August. The price action may have changed in September though as it has been moving sideways since then. Into the new week the price is pressing against resistance with the RSI pressing against the bullish zone. The MACD is bullish and rising. Look for a move over that resistance to participate.

PerkinElmer, Ticker: $PKI

PerkinElmer, $PKI, fell lower with the market in August then took a second leg down in September. A 25% drop in all, before a strong run higher to the prior resistance zone. After a small pullback the price reversed back up and is testing that resistance again. The RSI is bullish and rising and the MACD is crossing up after a short pullback of its own. Look for a push through the resistance as a signal to participate.

Zoetis, Ticker: $ZTS

Zoetis, $ZTS, spiked 10% higher in June only to reverse and more the very next day. It then embarked on a downward journey finding a double bottom near 40 in October. Since then it has been slowly rising and looks ready for more. The RSI is in the bullish zone while the MACD is rising, both supporting more upward price action. Look for a break of consolidation to participate higher.

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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 December sees the equity markets looking solid and maybe with new leadership.

Elsewhere look for Gold to continue lower while Crude Oil builds a bear flag in its longer downtrend. The US Dollar Index is breaking out to multi-year highs while US Treasuries consolidate with a short term bias higher. The Shanghai Composite broke consolidation to the downside and may be resuming the downtrend, while Emerging Markets are moving lower after failing at resistance.

Volatility looks to remain subdued and possibly fall keeping the bias higher for the equity index ETF's SPY, IWM and QQQ. The SPY and QQQ paused this week and the IWM has taken over leadership in the short term. All look positive on the intermediate term chart. Use this information as you prepare for the coming week and trad'em well.