5 Trade Ideas for Monday: Albemarle, Cadence Design, IQVIA, Nasdaq and Tractor Supply

• Posted by Greg Harmon
• on October 31st, 2021

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

Albemarle, Ticker: $ALB

Albemarle, $ALB, comes into the week at both resistance and a record high close. The RSI is rising in the bullish zone with the MACD positive and moving higher. Look for a push over resistance to participate…..

Cadence Design Systems, Ticker: $CDNS

Cadence Design Systems, $CDNS, comes into the week also at resistance and an all-time high. The RSI is rising in the bullish zone with the MACD positive and moving higher. Look for a push over resistance to participate…..

IQVIA, Ticker: $IQV

IQVIA, $IQV, comes into the week testing the late September high. It has a RSI rising in the bullish zone with the MACD positive and moving higher. Look for continuation to participate…..

Nasdaq, Ticker: $NDAQ

Nasdaq, $NDAQ, comes into the week breaking resistance and at an all-time high. The RSI is rising in the bullish zone with the MACD positive and moving higher. Look for continuation to participate…..

Tractor Supply, Ticker: $TSCO

Tractor Supply, $TSCO, comes into the week at an all-time high. The RSI is rising in the bullish zone with the MACD positive and climbing. 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 just two months left in the year, saw equity markets were showing renewed strength with a rebound from an ugly 3rd quarter reaching new all-time highs.

Elsewhere look for Gold to continue to consolidate while Crude Oil continues to the upside. The US Dollar Index continues to drift to the upside at the edge of confirming a reversal while US Treasuries rebound to a short term uptrend. The Shanghai Composite looks to continue to mark time while Emerging Markets try to hold at support in a downtrend.

The Volatility Index looks to remain very low making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe. On the shorter timeframe both the QQQ and SPY are also very strong. The IWM just keeps refusing to play though, moving sideways in what is now a 9 month consolidation. 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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