5 Trade Ideas for Monday: Intuitive Surgical, Nasdaq, Phillips 66, Toronto-Dominion and Tiffany

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

Intuitive Surgical, Ticker: $ISRG

Intuitive Surgical, $ISRG, has plodded methodically higher since the beginning of the year. It made a high 2 weeks ago and pulled back, setting up for a chance to get in the stock if you have missed the run. The Bollinger Bands® are squeezing, often a precursor to a move, and the RSI is turning back higher after working off an overbought condition. The MACD is starting to level after pulling back. Look for a push over short term resistance to participate higher…..

Nasdaq, Ticker: $NDAQ

Nasdaq, $NDAQ, started higher in December. It paused on the move higher for a month and then resumed to a top the first of March. Since then it pulled back in a 2 steps to a low in May and then reversed. Last week it made a high near the March top and pulled back. Friday saw a bullish engulfing candle, suggesting more upside. The RSI is in the bullish zone and rising while the MACD is also moving higher. Look for a push to new highs to participate…..

Phillips 66, Ticker: $PSX

Phillips 66, $PSX, pulled back from a top in December finding support finally in April. The price action from February through to last week has been a consolidation of that drop. It ended when the price broke to the upside. It failed early and fell back but Friday pushed back higher. The RSI is bullish and rising while the MACD is also rising. Look for continuation to participate higher…..

Toronto-Dominion, Ticker: $TD

Toronto-Dominion, $TD, started higher out of consolidation in September. It ran higher to ta top in February before starting a 3 month decline. That bottomed out under the 200 day SMA in May and reversed higher. Now it is stalling near the April consolidation zone and the 10 day SMA. The RSI is bullish and rising while the MACD is rising. Look for a new push higher to participate…..

Tiffany, Ticker: $TIF

Tiffany, $TIF, started a run higher in February, peaking in March just under 100. It made a small pullback from there, consolidated and then gapped down in May. Following the gap down it reversed above the consolidation before the recent pullback. Friday saw a bullish Marubozu candle, a foreboding for more upside. The RSI is also turning back higher in the bullish zone and the MACD is level and positive, avoiding a cross down. Look for continuation 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 saw with Options Expiration and the June FOMC meeting in the rear view mirror, equities looking to emerge on the other side mainly unscathed. There is consolidation in the SPY and IWM but perhaps more damage in the QQQ.

Elsewhere look for Gold to continue to pullback while Crude Oil trends lower. The US Dollar Index has moved to consolidation in its pullback while US Treasuries are biased to continue higher. The Shanghai Composite and Emerging Markets are biased to the upside with the Chinese market drifting up, while Emerging Markets consolidate in their longer trend up.

Volatility looks to remain at abnormally low levels keeping a breeze at the backs of equities. Their charts show continued strength in all 3 Index ETF’s on the longer timeframe but consolidation in the SPY and pullbacks in the IWM and QQQ on the shorter timeframe. 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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