5 Trade Ideas for Monday: Air Products, Blackrock, ConocoPhillips, Crowdstrike and JPMorgan

• Posted by Greg Harmon
• on October 22nd, 2023

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

Air Products, Ticker: $APD

Air Products, $APD, comes into the week nearing support. It has a RSI in the bearish zone with a MACD crossed down and negative. Look for a breach of support to participate…..

Blackrock, Ticker: $BLK

Blackrock, $BLK, comes into the week breaking support. It has a RSI in the bearish zone with the MACD negative. Look for continuation to participate…..

ConocoPhillips, Ticker: $COP

ConocoPhillips, $COP, comes into the week pulling back from a high. It has a RSI in the bullish zone with the MACD rolling over. Look for continuation to participate….

Crowdstrike, Ticker: $CRWD

Crowdstrike, $CRWD, comes into the week pulling back toward support. It has a RSI dropping in the bullish zone with the MACD crossing down. Look for continuation to participate…..

JPMorgan, Ticker: $JPM

JPMorgan, $JPM, comes into the week approaching support. It has a RSI in the bearish zone with the MACD crossing down. Look for a break of support 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 October options expiration in the books, saw equity markets with renewed weakness as bond yields soared higher.

Elsewhere look for Gold to continue its assault in the all-time highs while Crude Oil consolidates in a run higher. The US Dollar Index looks to consolidate the break out while US Treasuries drive down to their all-time low prices. The Shanghai Composite and Emerging Markets continue to look better to the downside.

The Volatility Index looks to remain low but rising making the path more difficult for equity markets to the upside. Their charts also look weak, especially on the shorter timeframe. On the longer timeframe both the IWM and SPY are making lower lows suggesting more downside, while the QQQ hangs on at support. 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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