5 Trade Ideas for Monday: ADP, Crown Castle, Dollar General, Ingersoll-Rand and Phillips 66

• Posted by Greg Harmon
• on September 8th, 2024

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

ADP, Ticker: $ADP

ADP, $ADP, comes into the week pulling back from a top. It has a RSI dropping in the bullish zone with the MACD crossed down and positive. Look for continuation to participate…..

Crown Castle, Ticker: $CCI

Crown Castle, $CCI, comes into the week breaking short term resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Dollar General, Ticker: $DG

Dollar General, $DG, comes into the week possibly reversing a gap down. It has a RSI oversold with the MACD negative. Look for continuation to participate…..

Ingersoll-Rand, Ticker: $IR

Ingersoll-Rand, $IR, comes into the week at support. It has a RSI in the bearish zone with the MACD negative. Look for a break of support to participate…..

Phillips 66, Ticker: $PSX

Phillips 66, $PSX, comes into the week pressing support. It has a RSI in the bearish zone with the MACD negative. Look for a drop under support to participate…..

Up Next: Bonus Idea

The Best

If you like what you see sign up for more ideas and deeper analysis using the Get Premium button above.   

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 September in the books, saw equity markets revert to weakness, trending lower all week.

Elsewhere look for Gold to continue its uptrend while Crude Oil continues to move lower. The US Dollar Index continues in broad consolidation while US Treasuries show signs of a possible new uptrend. The Shanghai Composite looks to continue the downtrend while Emerging Markets drop back into a short term downtrend.

The Volatility Index looks to shift from low and stable to low and rising making the path more difficult for equity markets. Their charts look weak om the shorter time frame as price pulls back from a lower high, but they remain above making a lower low for now. On the longer timeframe they look stronger, but vulnerable with the SPY strongest then the IWM and the QQQ the weakest. 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.

blog comments powered by Disqus