Top Trade Ideas for the Week of March 3, 2014: The Rest

• Posted by Greg Harmon
• on March 2nd, 2014

Here are the Rest of the Top 10:

AFLAC, Ticker: $AFL

AFLAC, $AFL, ended the week on a positive note, with a follow through on Thursday’s small break higher. The Bollinger bands are opening higher as the Relative Strength Index (RSI) and MACD both are rising signalling more upward price action.

ConocoPhillips, Ticker: $COP

ConocoPhillips, $COP, is consolidation at the confluence of the 50 and 200 day Simple Moving Averages (SMA). As it gestates the RSI is rising towards the bullish zone and the MACD is also rising. These support more upward price action/

Johnson & Johnson, Ticker: $JNJ

Johnson & Johnson, $JNJ, rose sharply in a ‘V’ recovery off of a bottom at 85.47. Now it is consolidating the rise in a bull flag and possibly breaking higher. The top of the Bollinger bands are opening higher to allow that and if the RSI and MACD follow higher it could be a trifecta paying $100.

Morgan Stanley, Ticker: $MS

Morgan Stanley, $MS, broke above resistance Friday, and has support for more upside from the rising RSI and MACD.

Microsoft, Ticker: $MSFT

Microsoft, $MSFT, made a Cup and Handle and is now moving higher. The rising and bullish RSI and MACD both support more upward price action.

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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, turning the page of the calendar into March sees the equity markets again looking strong. Elsewhere look for Gold to consolidate or pullback in its uptrend while Crude Oil consolidates with an upward bias. The US Dollar Index looks in trouble and moving lower while US Treasuries are biased higher. The Shanghai Composite may get a short term bounce and Emerging Markets look to continue sideways with an upward bias. Volatility looks to remain low keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts also look higher with the SPY and IWM stronger than the QQQ. Use this information as you prepare for the coming week and trad’em well.

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