5 Trade Ideas for Monday: Adobe, AIG, Amgen, Donaldson and Eaton

• Posted by Greg Harmon
• on January 21st, 2024

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

Adobe, Ticker: $ADBE

Adobe, $ADBE, comes into the week moving higher. It has a RSI rising in the bullish zone with the MACD positive and moving up. Look for continuation to participate…..

AIG, Ticker: $AIG

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

Amgen, Ticker: $AMGN

Amgen, $AMGN, comes into the week testing resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Donaldson, Ticker: $DCI

Donaldson, $DCI, comes into the week moving higher. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Eaton, Ticker: $ETN

Eaton, $ETN, comes into the week at an all-time high. It has a 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 the January options expiration in the books, saw equity markets displaying strength with both the large cap S&P 500 and Nasdaq 100 closing at new all-time highs.

Elsewhere look for Gold to continue its pullback in the uptrend while Crude Oil consolidates in a narrow range. The US Dollar Index continues to bounce to the upside while US Treasuries remain in their downtrend. The Shanghai Composite looks to continue its trend lower while Emerging Markets consolidate over long term support.

The Volatility Index looks to remain very low and stable making the path easier for equity markets to the upside. The charts of the SPY and QQQ look strong, especially on the longer timeframe. On the shorter timeframe both the QQQ and SPY have reset on momentum measures and both are very strong. The IWM remains the exception bouncing around in a range that has held it since for almost 2 years. Use this information as you prepare for the coming week and trad’em well.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

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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