5 Trade Ideas for Monday: Affirm, Caterpillar, DoorDash, Eaton and Palo Alto Networks

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

Affirm, Ticker: $AFRM

Affirm, $AFRM, comes into the week consolidating under resistance. It has an RSI in the bullish zone with the MACD positive period look for a push over resistance to participate…

Caterpillar, Ticker: $CAT

Caterpillar, $CAT, comes into the week at an all-time high. It has an RSI in the bullish zone and a MACD positive. Look for continuation to participate…

DoorDash, Ticker: $DASH

DoorDash, $DASH, comes into the week pushing up off of support. It has an RSI entering the bullish zone with the MACD positive period look for continuation to participate…

Eaton, Ticker: $ETN

Eaton, $ETN, comes into the week at resistance. It has an RSI moving into the bullish zone with the MACD positive. Look for a pushover resistance to participate…

Palo Alto Networks, Ticker: $PANW

Palo Alto Networks, $PANW, comes into the week at resistance. It has an RSI in the bullish zone and the MACD positive. Look for continued push higher 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 Kevin Warsh’s first FOMC meeting and June options expiration both in the rearview mirror, noted equity markets appeared to have weathered the uncertainty and at or approaching all-time highs.

Elsewhere, look for Gold to continue a short term downtrend while Crude Oil confirms its own short term downtrend. The US Dollar Index looks to continue higher breaking the 13 month range and morphing into an uptrend while US Treasuries continue to hold over support in consolidation. The Shanghai Composite looks to continue the consolidation in a slow drifting range higher while Emerging Markets look ready to test new highs in their uptrend.

The Volatility Index looks to continue in the normal zone keeping a tailwind behind equities. The charts of the SPY, the QQQ and the IWM continue to look extremely strong on the longer timeframe holding over support at the highs. On the shorter timeframe the SPY and the QQQ still have some work left in the short term bounce to prove the pullback is over. Making a new all-time high with higher momentum readings would solidify that. The IWM, however, is looking strong, consolidating after a new all-time high Monday. 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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