5 Trade Ideas for Monday: Apple, Caterpillar, Mastercard, Nasdaq and RTX

• Posted by Greg Harmon
• on April 14th, 2024

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

Apple, Ticker: $AAPL

Apple, $AAPL, comes into the week approaching resistance. It has a RSI rising over the midline with the MACD moving higher. Look for a push over resistance to participate…..

Caterpillar, Ticker: $CAT

Caterpillar, $CAT, comes into the week pulling back from a top. It has a RSI dropping in the bullish zone with the MACD crossed down. Look for continuation to participate…..

Mastercard, Ticker: $MA

Mastercard, $MA, comes into the week pulling back to support. It has a RSI dropping in the bullish zone with the MACD negative. Look for a break of support to participate…..

Nasdaq, Ticker: $NDAQ

Nasdaq, $NDAQ, comes into the week at support. It has a RSI in the bullish zone with the MACD dropping. Look for a drop through support to participate…..

RTX, Ticker: $RTX

RTX, $RTX, comes into the week at support. It has a RSI dropping out of overbought territory with the MACD curling to cross down. 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 heading into the April options expiration saw equity markets showing some cracks in the uptrends.

Elsewhere look for Gold to continue its uptrend, but with perhaps a short term pause while Crude Oil consolidates the move higher. The US Dollar Index looks to break to the upside while US Treasuries resume their downtrend. The Shanghai Composite looks to consolidate in its move higher while Emerging Markets consolidate in a broad channel.

The Volatility Index looks to continue to slow move higher keeping pressure on equity markets. The QQQ looks the strongest, especially on the longer timeframe as it consolidates while the SPY digests its strong move with a pullback. The IWM seems to have given up any chance of breaking out of the long consolidation as it falls back into the channel. 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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