5 Trade Ideas for Monday: Ally, Amgen, GE Aerospace, Intel and JP Morgan

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

Ally Financial, Ticker: $ALLY

Ally Financial, $ALLY, comes into the week at resistance. It has an RSI rising in the bullish zone with the MACD turning positive. Look for a push over resistance to participate…

Amgen, Ticker: $AMGN

Amgen, $AMGN, comes into the week rounding up out of a pullback. It has a RSI rising in the bullish zone and the MACD positive. Look for continuation to participate…

GE Aerospace, Ticker: $GE

GE Aerospace, $GE, comes into the week breaking above resistance. It has an RSI in the bullish zone and a MACD positive and rising. Look for continuation to participate…

Intel, Ticker: $INTC

Intel, $INTC, comes into the week at resistance. It has an RSI rising in the bullish zone and a MACD positive and curling up. Look for a push over resistance to participate…

JP Morgan Chase, Ticker: $JPM

JP Morgan Chase, $JPM, comes into the week pushing over resistance. It has an RSI rising 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 heading into the FOMC meeting and June options expiration, saw equity markets appearing to have stopped the damage with small caps leading at all-time highs.

Elsewhere, look for Gold to continue a short term downtrend while Crude Oil settles under $90/bbl, near support and a change of character to a downtrend. The US Dollar Index looks to drift lower near the top of the range while US Treasuries continue to hold over support in consolidation after avoiding a shift in character. The Shanghai Composite looks to continue the short term trend to the downside while Emerging Markets look to recover from the pull back in their uptrend.

The Volatility Index looks to continue lower in the normal zone, after a pop to test the recent range, giving a bit of a tailwind to equities. The charts of the SPY, the QQQ and the IWM continue to look extremely strong on the longer timeframe after the reset out of overbought conditions. 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. The IWM, however, is looking strong, with an all-time high to end the week. 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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