5 Trade Ideas for Monday: Commerce Bancshares, Fifth Third, Grainger, Murphy USA and PPG

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

Commerce Bancshares, Ticker: $CBSH

Commerce Bancshares, $CBSH, comes into the week pushing above resistance. It has an RSI in the bullish zone and the MACD positive. Look for continuation to participate…

Fifth Third Bancorp, Ticker: $FITB

Fifth Third Bancorp, $FITB, comes into the week pushing over resistance. It has an RSI in the bullish zone with the MACD positive. Look for continuation to participate…

W.W. Grainger, Ticker: $GWW

W.W. Grainger, $GWW, comes into the week consolidating over prior resistance at an all-time high. It has an RSI in the bullish zone and a MACD positive period look for continuation to participate…

Murphy USA, Ticker: $MUSA

Murphy USA, $MUSA, comes into the week rounding up out of a pullback. It has an RSI rising over the mid line with the MACD about to turn positive. Look for continuation to participate…

PPG Industries, Ticker: $PPG

PPG Industries, $PPG, comes into the week approaching resistance. It has an RSI in the bullish zone with the MACD positive period look for a push over resistance to participate…

Up Next: Bonus Idea                                                                                        

The Best

 

Don’t miss out on the continuation of the Memorial Day Sale. Get an annual subscription for 30% off. Subscribe here.

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 the first week of June and the strong May employment report in the books, saw sentiment shifting in the equity markets after starting the week at all-time highs.

Elsewhere, look for Gold to continue a short term downtrend while Crude Oil falls in consolidation under $100/bbl, near a change of character to a downtrend. The US Dollar Index looks to continue to move higher in broad consolidation near the top of the range while US Treasuries continue to test support in consolidation after avoiding a shift in character. The Shanghai Composite looks to continue digestion in the short term uptrend, on the edge of a shift to downtrend, while Emerging Markets pull back in their uptrend.

The Volatility Index looks to continue lower in the normal zone, but higher, giving a bit less of a tailwind to equities. The charts of the SPY, the QQQ and the IWM continue to look extremely strong on the longer timeframe and have reset out of overbought conditions. On the shorter timeframe the SPY, the QQQ and the IWM also look strong, with all printing all-time highs to start the week, but resetting momentum lower with short term pullbacks to end the week. This could continue. Use this information as you prepare for the coming week and trad’em well.