5 Trade Ideas for Monday: Amex, BP, CF, Sinclair and Goldman

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

American Express, Ticker: $AXP

American Express, $AXP, comes into the week pressing on support. It has a RSI in the bearish zone with a MACD negative. Look for a drop through support to participate…

BP, Ticker: $BP

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

CF Industries, Ticker: $CF

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

HF Sinclair, Ticker: $DINO

HF Sinclair, $DINO, comes into the week pushing over resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…

Goldman Sachs, Ticker: $GS

Goldman Sachs, $GS, comes into the week falling back to support. It has a RSI in the bearish zone with the MACD negative. Look for a drop through 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 just 2 trading days left in the 1st Quarter, saw equities at 7 month lows and breaking lower after several weeks of body blows.

Elsewhere, look for Gold to continue to consolidate in the pullback while Crude Oil continues to churn around $100 per barrel. The US Dollar Index looks to continue to press on resistance in consolidation while US Treasuries move to the downside nearing 8 month lows. The Shanghai Composite looks to continue a short term downtrend while Emerging Markets pullback in their uptrend.

The Volatility Index looks to continue in elevated territory putting pressure on equities. The charts of the SPY and the QQQ are now cracking on the longer timeframe with bearish momentum while the IWM is threatening its uptrend. On the shorter timeframe the SPY and the QQQ are showing signs of a wash out with downward gaps in the charts while the IWM holds up with relative strength over is long term moving average in a short term downtrend. 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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