5 Trade Ideas for Monday: Alcoa, BHP, Heartland, Intuitive Surgical & M&T Bank

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

Alcoa, Ticker: $AA

Alcoa, $AA, fell from a top in February, reaching a bottom in June. Since then it bounced and is now looking at making a higher high. The RSI is in the bullish zone and the MACD is rising. Look for a push through resistance to participate higher…..

BHP Billiton, Ticker: $BHP

BHP Billiton, $BHP, started pulling back in January, and found a bottom in early May. A bounce fell back to a second touch at the bottom in June. Since then it has been rising and is now breaking resistance and confirming a double bottom. The RSI is rising and bullish while the MACD is also moving up. Look for continuation to participate higher…..

Heartland Express, Ticker: $HTLD

Heartland Express, $HTLD, started driving higher in early November and reached a top shortly after. Some consolidation led to a pullback in December that then drifted lower, finding a bottom in May. It has been rising since then and confirmed a double bottom in early June. Last week it made a higher high over resistance. The RSI is bullish and rising and the MACD is flat but turning up. Look for continuation to participate higher…..

Intuitive Surgical, Ticker: $ISRG

Intuitive Surgical, $ISRG, has been on a tear higher since the beginning of the year. It made a top, printing a Shooting Star candle June 22nd, and reversed lower. But the pullback was mild and it started higher again Friday. The RSI also reversed higher in the bullish zone while the MACD is flat. Look for continuation higher to participate…..

M&T Bank, Ticker: $MTB

M&T Bank, $MTB, started higher in October, reaching a peak in March. It pulled back from there and found support in April. Since then it has been slowly rising. Last week it pushed to a higher high and has support for more from a rising and bullish RSI and a MACD that is moving higher as well. 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 last quiet week before earnings season sees the equity markets have weathered a short term drizzle (SPY and IWM) or mild rainstorm (QQQ) and look solid on the longer timeframe.

Elsewhere look for Gold to move lower as it breaks support while Crude Oil also continues lower short term. The US Dollar Index continues to look weak and better to the downside while US Treasuries continue to move lower. The Shanghai Composite looks to continue the trend higher as Emerging Markets mark time sideways in the uptrend.

Volatility looks to remain at very low levels keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Longer term their charts agree. Short term they are all consolidating and holding over support zones. Use this information as you prepare for the coming week and trad’em well.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

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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