5 Trade Ideas for Monday: Aflac, Five Below, Jazz Pharma, Murphy USA and Prudential

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

Aflac, Ticker: $AFL

Aflac, $AFL, comes into the week over short term resistance. It has an RSI in the bullish zone and the MACD positive and rising. Look for continuation to participate…

Five Below, Ticker: $FIVE

Five Below, $FIVE, comes into the week approaching resistance. It has an RSI in the bullish zone and the MACD about to cross to positive. Look for a push over resistance to participate…

Jazz Pharmaceuticals, Ticker: $JAZZ

Jazz Pharmaceuticals, $JAZZ, comes into the week approaching resistance. It has an RSI in the bullish zone and the MACD positive. Look for a push over resistance to participate…

Murphy USA, Ticker: $MUSA

Murphy USA, $MUSA, comes into the week approaching resistance. It has an RSI and a bullish zone and a MACD positive. Look for a push over resistance to participate…

Prudential Financial, Ticker: $PRU

Prudential Financial, $PRU, comes into the week moving over resistance. It has an RSI in the bullish zone with the MACD positive. Look for continuation to participate…

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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 July options expiry in the rearview mirror and heading deep into earnings season, saw equity markets seeming to be a bit unsettled as the high correlation between the indexes slightly unraveled.

Elsewhere, look for Gold to continue the downtrend but with Crude Oil reversing to the upside. The US Dollar Index looks to continue to hold at the top of the 15 month range while US Treasuries continue to threaten to break down through support in consolidation. The Shanghai Composite looks to continue the confirmation of a reversal to a downtrend while Emerging Markets hang on by a thread in their uptrend.

The Volatility Index looks to continue in the normal zone after a threat of a move higher keeping at least a slight tailwind behind equities. They could use that as the charts of the SPY, the QQQ and the IWM are showing cracks on the shorter timeframe. The QQQ is the worst followed by the IWM with the SPY holding the strongest. They all continue to look strong on the longer timeframe consolidating at the highs. Use this information as you prepare for the coming week and trad’em well.