5 Trade Ideas for Monday: ADP, Cummins, Interactive Brokers, Cloudflare and Visa
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
Automatic Data Processing, $ADP, 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…
Cummins, $CMI, comes into the week approaching resistance. It has a RSI rising through the midline with the MACD about to turn positive. Look for a push over resistance to participate…
Interactive Brokers, $IBKR, comes into the week pushing away from resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation higher to participate…
Cloudflare, $NET, comes into the week breaking resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…
Visa, $V, comes into the week breaking 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 the May FOMC meeting in the books, equity markets showed resilience holding up in their short term rises.
Elsewhere look for Gold to continue its consolidation in the uptrend while Crude Oil continues to trend lower. The US Dollar Index continues to drift to the upside in a bear flag while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue in consolidation while Emerging Markets consolidate in a broad range just under resistance.
The Volatility Index looks to continue moving back to normal, making the path easier for equity markets to the upside. Their charts show short term strength on both timeframes. On the shorter timeframe the IWM, the QQQ and the SPY are on the verge of breaking higher and a shift to bullish momentum. On the longer timeframe the classic “V” recovery continues to build in all 3 Index ETFs. Use this information as you prepare for the coming week and trad’em well.
