5 Trade Ideas for Monday: Arrow Electronics, BP, CME, JB Hunt Transportation & Telephone and Data Systems

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

Arrow Electronics, Ticker: $ARW

Arrow Electronics, $ARW, started a trend higher in May after retesting the 50 and 100 day SMA’s. It reached a top in late July and then pulled back in a steeper decline. That found support at the 200 day SMA in August before reversing last week. Now it is rising at short term resistance with the RSI rising and the MACD about to cross up. Look for a push over resistance to participate higher…..

BP, Ticker: $BP

BP, $BP, made a high in early August and then pulled back. It found support at the same price level that has stopped the past two falls. Friday it started a reversal higher and has support for continuation from a RSI that has turned up and a MACD heading for a bullish cross. Look for continuation to participate higher…..

CME, Ticker: $CME

CME, $CME, pulled back in March after a long trend higher. It found support and consolidated for 2 months before quickly rising to a new all-time high in June. From there is pulled back to a higher low and is now back at resistance. The RSI is in the bullish zone and rising with the MACD rising. Look for a push through resistance to participate higher…..

JB Hunt Transportation, Ticker: $JBHT

JB Hunt Transportation, $JBHT, started pulling back in March, finding a bottom in May after retracing nearly 70% of the move higher. Since that bottom it has been rising until it met resistance two weeks ago and began to consolidate. The RSI is bullish and the MACD level. Look for a push up out of consolidation to participate…..

Telephone and Data Systems, Ticker: $TDS

Telephone and Data Systems, $TDS, pulled back fast in February, losing 25% of its market cap in less than 2 weeks. It consolidated then for a month before embarking on a trend higher that is still under way. That move met some resistance in early August and is back at that resistance enter this week. The RSI is in the bullish zone and rising while the MACD is crossed up. Look for a push through resistance 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 with Jackson Hole behind and looking ahead to the Labor Day weekend at the end of next week saw the equity markets improved, but still lacking strength.

Elsewhere look for Gold to consolidate at 1300 in its uptrend while Crude Oil drifts higher slowly. The US Dollar Index remains weak and better to the downside while US Treasuries are biased to continue higher. The Shanghai Composite looks to continue higher after a big break out and Emerging Markets are better to the upside working through long term resistance.

Volatility looks to remain low putting the bias back higher for the equity index ETF’s SPY, IWM and QQQ. Their charts are all looking good on the longer timeframe but mixed in the shorter timeframe. The QQQ is the strongest and is consolidating, while the SPY continues to be at some risk for further pullback, and the IWM is reversing but the weakest, under its 200 day SMA. 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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