Top Trade Ideas for the Week of September 6, 2016: The Rest

• Posted by Greg Harmon
• on September 5th, 2016

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

Here are the Rest of the Top 10:

American Tower, Ticker: $AMT

American Tower, $AMT, started higher in February, stalling as it turned into April. The slowly rising consolidation brought it back in contact with its 20 day SMA, and then it pushed higher again at the end of June. The price peaked in late July and it pulled back slowly, hitting the 20 day SMA again 2 weeks ago. Now it is seeing a positive momentum divergence with the RSI pushing up through the mid line and the MACD about to cross up. Look for a push over the 20 day SMA to participate to the upside…..

BorgWarner, Ticker: $BWA

BorgWarner, $BWA, has been making a series of lower highs s it heads lower. But this time may be different. The bottom in July, at the same level as the February low could be making a double bottom. A move over the April high would confirm that. Until then though, the price is at resistance and has support from a rising and bullish RSI and positive MACD for a continued push higher. Look for a move over resistance to participate to the upside…..

Comerica, Ticker: $CMA

Comerica, $CMA, made a deep bottom with the market in February. But since then it made a strong move higher to a peak in June. A shorter pullback to a higher low found support at the end of June and it started higher again. Last week saw it back at the early June level and consolidating. The RSI is in the bullish zone and the MACD is flat, but positive. Look for a push to a new high to participate to the upside…..

Dr Pepper Snapple, Ticker: $DPS

Dr Pepper Snapple, $DPS, started higher off of a low in August 29015 and did not stop until year end. Since then it has moved mostly sideways but with a slight upward drift to it. Since April it has made a series of higher highs and higher lows. The move up Friday looks to confirm another higher low. Withe RSI turning up and the MACD about to cross up look for continuation to participate to the upside…..

Mastercard, Ticker: $MA

Mastercard, $MA, made a low in February then bounced to resistance below 100. A smaller pullback to a higher low at the start of July reversed higher and is now back at prior resistance. The RSI is in the bullish zone and rising and the MACD is crossing up, both supporting more upside. Look for a push through resistance to participate to the upside…..

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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 as summer vacations end and the back to work mentality begins, sees the equity markets rested and ready.

Elsewhere look for Gold to continue higher short term while Crude Oil also bounces and moves higher. The US Dollar Index looks to move higher in the broad consolidation while US Treasuries consolidate in their uptrend. The Shanghai Composite looks to continue a digestive drift lower while Emerging Markets reverse back to the upside.

Volatility looks to continue abnormally low keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts show the SPY and QQQ continuing in consolidation, with the IWM breaking to the upside, taking the lead. 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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