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

Cadence Design Systems, Ticker: $CDNS

Cadence Design Systems, $CDNS, comes into the week at short term resistance in a move higher. The RSI is in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Chipotle Mexican Grill, Ticker: $CMG

Chipotle Mexican Grill, $CMG, comes into the week breaking resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Intuitive Surgical, Ticker: $ISRG

Intuitive Surgical, $ISRG, comes into the week approaching short term resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Netflix, Ticker: $NFLX

Netflix, $NFLX, comes into the week breaking resistance. It has a RSI in the bullish zone with the MACD crossing up. Look for continuation to participate…..

Progressive, Ticker: $PGR

Progressive, $PGR, comes into the week testing support. It has a RSI holding in the bullish zone with the MACD negative. look for a break of 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 the June FOMC meeting and inflation data in the books, saw equity markets exhibit both strength and weakness with large caps and tech names continuing to make new all-time highs while small caps took a beating.

Elsewhere look for Gold to continue consolidation while Crude Oil consolidates in a broad range. The US Dollar Index looks ready to test the top of the consolidation range while US Treasuries bask in a short term uptrend in the secular downtrend. The Shanghai Composite looks to continue the short term move lower while Emerging Markets consolidate in the long channel.

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

Bank of America, $BAC, comes into the week breaking to a new all-time high. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…

Johnson & Johnson, $JNJ, comes into the week also breaking to a new all-time high. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…

Lilly, $LLY, comes into the week rounding up from a pullback. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…

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

Walmart, $WMT, comes into the week breaking to a new 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 December FOMC meeting in the books and ahead of the non-farm payroll and CPI reports next week, saw equity markets show strength moving higher until profit taking Friday.

Elsewhere, look for Gold to continue the uptrend and challenge the all-time high while Crude Oil holds lower in consolidation. The US Dollar Index continues the short term drift to the downside in consolidation while US Treasuries continue in consolidation and looking better lower. The Shanghai Composite looks to continue the pause in the uptrend after some digestion from the 10 year highs while Emerging Markets hold up in their uptrend.

Progressive, $PGR, comes into the week at resistance at the gap down following the October drop. It has a RSI rising into the bullish zone with the MACD negative but rising. There is resistance at 227 and 229.50 then 236 and 240 before 247 and 250. Support lower is at 221.50 and 218.50. Short interest is low at 1%. The stock pays a dividend with an annual yield of 0.18% and has traded ex-dividend since October 2nd.

The company is expected to report earnings next on November 19th. The November options chain has biggest open interest at the 225 put strike and the 240 call and is implying a $7.85 move by Friday. The December chain has biggest open interest at the 210 put and 225 call strikes. Finally, the January chain has biggest open interest at 250 then 220 on the put side and at 260 on the call side.

Trade Idea 1: Buy the stock on a move over 227 with a stop at 218.50.

Trade Idea 2: Buy the stock on a move over 227 and add a November 220/215 Put Spread ($2.00) while selling the December 235 Calls ($1.65).

Trade Idea 3: Buy the November/December 235 Call Calendar ($3.10) and sell the December 210 Put ($2.20).

Trade Idea 4: Buy the January 210/230/250 Call Spread Risk Reversal $2.50).

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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 November Options Expiration and Government Shutdown in the rearview mirror, saw equity markets showing continued jitters, falling in a week with Fed speak and no Government data.

Elsewhere, look for Gold to continue the uptrend with some short term consolidation while Crude Oil holds lower in consolidation. The US Dollar Index continues the short term drift to the downside, as it tries to round out a bottom, while US Treasuries continue in consolidation, putting at risk of an intermediate term reversal higher. The Shanghai Composite looks to continue the uptrend at 10 year highs while Emerging Markets stall in their uptrend pulling back from 4 year highs.

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

Aflac, $AFL, comes into the week moving up from a higher low. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…

Boeing, $BA, comes into the week rebounding from a pullback. It has a RSI rising toward the midline with the MACD curling up. Look for continuation to participate…

Corning, $GLW, comes into the week rising off a pullback to the 200 day SMA. It has a RSI rising with the MACD curling to cross up. Look for continuation to participate…

Progressive, $PGR, 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…

RTX, $RTX, comes into the week rounding up from a pullback. 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 heading into the March options expiration and FOMC meeting, saw equity markets show possible exhaustion in the pullbacks of the past 4 weeks.

Elsewhere look for Gold to continue its bull run higher while Crude Oil consolidates at the bottom of a broad range. The US Dollar Index continues pullback in the consolidation zone while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue in consolidation in the uptrend while Emerging Markets chop sideways in consolidation.

Progressive, $PGR, comes into the week rounding higher after a pullback. It ended Friday at the 50 day SMA. The round higher made for a higher low. This occurred with the RSI making a lower low, a phenomenon known as a Positive RSI Reversal. This gives a target to 273. That RSI is rising back towards the midline with the MACD leveling after a pullback into negative territory. There is resistance at 254 and 257 then 260 and 264 before 270. Support lower is at 247.50 and 243 before 240. Short interest is low under 1%. The stock pays a dividend with an annual yield of 0.16% and has an ex-date of January 9th.

The company is expected to report earnings next on January 29th. The December options chain shows open interest is biggest at the 250 put strike then 230 and 240. On the call side it is spread from 230 to 275. The January chain has biggest open interest at the 250 put strike and the 220 then 260 strikes on the call side. Finally, the February chain covers the earnings report and has biggest open interest at the 250 and 245 strikes on the put side. There is much less open interest on the call side but it builds from 235 to a peak at 260 then tails to 285.

Trade Idea 1: Buy the stock on a move over 254 with as stop at 240.

Trade Idea 2: Buy the stock on a move over 254 and add a January 250/240 Put Spread ($5.10) while selling the February 265 Calls ($4.80).

Trade Idea 3: Buy the January/February 260 Call Calendar ($4.00) while selling the January 240 Put ($3.50).

Trade Idea 4: Buy the February 235/255/270 Call Spread Risk Reversal (30 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 just 10 trading days left in the year, saw equity markets continue to show strength on the large cap and tech front, with some weakness appearing in small caps.

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

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

Fiserv, Ticker: $FI

Fiserv, $FI, 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…..

Louisiana-Pacific, Ticker: $LPX

Louisiana-Pacific, $LPX, 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…..

Meta Platforms, Ticker: $META

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

Progressive, Ticker: $PGR

Progressive, $PGR, comes into the week breaking resistance. It has a RSI rising over the midline with the MACD climbing toward positive. Look for continuation to participate…..

Summit Materials, Ticker: $SUM

Summit Materials, $SUM, comes into the week breaking short term resistance. The RSI is in the bullish zone with the MACD flat and 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 5 trading days left in the second Quarter, saw equity markets take a break, pulling back following several strong weeks.

Elsewhere look for Gold to continue its pullback while Crude Oil drops in broad consolidation. The US Dollar Index continues in consolidation while US Treasuries also consolidate. The Shanghai Composite looks to continue the new short term move lower while Emerging Markets also term lower in the short term.

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

Arch Capital, Ticker: $ACGL

Arch Capital, $ACGL, comes into the week rising off a low. It has a RSI rising towards the bullish zone with the MACD crossed up. Look for continuation to participate…..

Amgen, Ticker: $AMGN

Amgen, $AMGN, comes into the week approaching resistance. It has a RSI trending higher, but short of the bullish zone, with the MACD crossing to positive. Look for a push over resistance to participate…..

Boston Scientific, Ticker: $BSX

Boston Scientific, $BSX, comes into the week at resistance. It has a RSI at the midline with the MACD rising but negative. Look for a push over resistance to participate…..

Lockheed Martin, Ticker: $LMT

Lockheed Martin, $LMT, comes into the week breaking over resistance. The RSI is rising toward the bullish zone with the MACD crossed up. Look for continuation to participate…..

Progressive, Ticker: $PGR

Progressive, $PGR, comes into the week pushing through resistance. It has a RSI rising into the bullish zone with the MACD positive and rising. 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 2nd Quarter in the books, watched equity markets finish the worst start of the year since 1970. They gave back more than half of the previous week’s gain on the week before a decent finish into the long weekend.

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