5 Trade Ideas for Monday: AIG, Alibaba, FMC, Sealed Air and Walmart

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

AIG, Ticker: $AIG

AIG, $AIG, broke over consolidation in April and continued to move to a top in July. It pulled back from there and began a consolidation against that high as resistance. It is back against that high with the RSI rising in the bullish zone and the MACD crossed up and positive. Look for a new high to participate…..

Alibaba, Ticker: $BABA

Alibaba, $BABA, made a high in May and then quickly reversed lower, to bottom at the end of the month. It bounce to resistance at one of the pause points from the path lower and then dropped back again. Now it has reversed and is headed back to resistance. The RSI is pressing against the edge of the bullish zone with the MACD rising and positive. Look for a push over resistance to participate…..

FMC, Ticker: $FMC

FMC, $FMC, started to move higher out of a pullback in May. It met resistance in August and pulled back to a low later in the month. Now it has reversed and is making a new high. The RSI is rising in the bullish zone with the MACD rising and positive. Look for continuation to participate…..

Sealed Air, Ticker: $SEE

Sealed Air, SEE, gapped higher in February and has done very little since. It topped in April and then pulled back to fill the gap and then bounced along support until late August. A false breakdown reversed and it is moving higher. The RSI is rising toward the bullish zone with the MACD crossed up and moving higher. Look for continuation to participate…..

Walmart, Ticker: $WMT

Walmart, WMT, has trended higher since December. It had a consolidating pullback that bottomed in August and since then it has moved back to new highs. It has an RSI rising in the bullish zone with the MACD positive and moving up. Look for a new high 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 September Options Expiration and the FOMC meeting sees the equity markets showing strength, but building that wall of worry as they sit at prior highs, not breaking through them.

Elsewhere look for Gold to pullback in its uptrend while Crude Oil consolidates in the drift lower. The US Dollar Index is also continues to drift to the upside while US Treasuries continue lower. The Shanghai Composite is pausing in its new move higher while Emerging Markets look to continue higher.

Volatility continues to remain very low keeping the bias to the upside for the equity index ETF’s SPY, IWM and QQQ. The SPY and QQQ both sit on the cusp of new all-time highs after touching their tops but recoiling. The IWM also shows promise at the top of its long consolidation range. Use this information as you prepare for the coming week and trad’em well.

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The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

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