5 Trade Ideas for Monday: American Express, Cummins, GE Aero, 3M and Microsoft

• Posted by Greg Harmon
• on September 15th, 2024

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

American Express, Ticker: $AXP

American Express, $AXP, comes into the week testing resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Cummins, Ticker: $CMI

Cummins, $CMI, comes into the week at prior resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

GE Aerospace, Ticker: $GE

GE Aerospace, $GE, comes into the week breaking resistance. The RSI is bullish with the MACD positive. Look for continuation to participate…..

3M, Ticker: $MMM

3M, $MMM, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Microsoft, Ticker: $MSFT

Microsoft, $MSFT, comes into the week approaching resistance. It has a bullish RSI and a positive MACD. Look for a push over resistance 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 September FOMC meeting and Options Expiration, saw equity markets showing strength with a rebound from the week prior.

Elsewhere look for Gold to continue its uptrend while Crude Oil consolidates in a short term downtrend. The US Dollar Index continues to drift lower in consolidation while US Treasuries are on the edge of a reversal to an uptrend. The Shanghai Composite looks to continue the downtrend while Emerging Markets consolidate.

The Volatility Index looks to remain low and stabilizing making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe with the SPY on the edge of break to new highs while the IWM and QQQ hold near recent highs. On the shorter timeframe the SPY is also strong with the IWM and QQQ possibly building tightening consolidation zones. 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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