5 Trade Ideas for Monday: Amneal Pharma, Amex, Graco, Corning and Walmart

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

Amneal Pharmaceuticals, Ticker: $AMRX

Amneal Pharmaceuticals, $AMRX, 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…

American Express, Ticker: $AXP

American Express, $AXP, comes into the week rising off a pullback. It has a RSI rising toward the midline with the MACD negative and leveling. Look for continuation to participate…

Graco, Ticker: $GGG

Graco, $GGG, comes into the week approaching resistance. It has a RSI in the bullish zone and a MACD positive. Look for a push over resistance to participate…

Corning, Ticker: $GLW

Corning, $GLW, 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…

Walmart, Ticker: $WMT

Walmart, $WMT, 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…

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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 January options expiration in the books, saw equity markets exhibit strength holding up or rising despite mixed inflation data and a Jerome Powell showdown with the President.

Elsewhere, look for Gold to continue the uptrend and more all-time highs while Crude Oil drifts higher at the bottom of consolidation. The US Dollar Index continues the short term move to the upside in consolidation while US Treasuries continue to hold at 4 month lows in consolidation and looking better lower. The Shanghai Composite looks to continue the in the uptrend at 10½ year highs after breaking consolidation while Emerging Markets make their first new all-time high in almost 5 years as they continue in their uptrend.

The Volatility Index looks to continue to hold low in the normal range making it easier for equities to move higher. The charts of the SPY, the IWM and the QQQ remain strong on the longer timeframe with the IWM leading. On the shorter timeframe the IWM is also strong forging new all-time highs. The SPY and QQQ are having a harder time mired in consolidation. 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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