Top Trade Ideas for the Week of September 15, 2014: The Rest

• Posted by Greg Harmon
• on September 14th, 2014

Here are the Rest of the Top 10:

Akamai Technologies, Ticker: $AKAM

Akamai Technologies, $AKAM, has moved between multi-year support and resistance since February, as it rises along the 200 day SMA. It is now at trend resistance and the neckline of an Inverse Head and Shoulders pattern with support or more upside from a rising RSI and MACD.

The Bank of New York Mellon, Ticker: $BK

The Bank of New York Mellon, $BK, is at resistance at 40 as it may be completing a consolidation that began in July. The RSI is rising and bullish and the MACD about to cross up to support a push higher, to continue the trend that began in April.

Domino’s Pizza, Ticker: $DPZ

Domino’s Pizza, $DPZ, is at resistance that has been in place since April. The recent trend higher has support to continue from the bullish RSI and MACD.

Intuitive Surgical, Ticker: $ISRG

Intuitive Surgical, $ISRG, is bouncing along at a resistance zone between 480 and 490. The RSI held in the bullish zone on the recent pullback and is rising along with a MACD that has leveled.

Knight Transportation, Ticker: $KNX

Knight Transportation, $KNX, is making a third touch at the 26.30 area, this time after only a minor pullback. The RSI is strong and bullish near 70 with a MACD rising, both supporting a push through 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, heading into September Options Expiration Week sees the equity markets looking tired and ready for a pullback. Elsewhere look for Gold to continue lower while Crude Oil does the same. The US Dollar Index is strong and looks to continue higher while US Treasuries are biased lower. The Shanghai Composite is also strong and biased higher with Emerging Markets looking to continue their pullback. Volatility looks to remain subdued keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts show more consolidation in the zone for the IWM and a possibility of consolidation or even a pullback for both the SPY and QQQ. Use this information as you prepare for the coming week and trad’em well.

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