5 Trade Ideas for Monday: Apple, Cleveland Cliffs, Fedex, Oshkosh and Sofi

• Posted by Greg Harmon
• on October 20th, 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 and the all-time high. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…

Cleveland-Cliffs, Ticker: $CLF

Cleveland-Cliffs, $CLF, 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…

Fedex, Ticker: $FDX

Fedex, $FDX, comes into the week at resistance. It has a RSI rising at the midline with the MACD negative. Look for a push over resistance to participate…

Oshkosh, Ticker: $OSK

Oshkosh, $OSK, 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…

Sofi Technologies, Ticker: $SOFI

Sofi Technologies, $SOFI, 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 the October Options Expiration in the books, saw equity markets showing some strength battling against a narrative of slower Fed cuts.

Elsewhere look for Gold to continue its uptrend while Crude Oil drops in consolidation. The US Dollar Index may reverse the short term uptrend while US Treasuries pullback in consolidation. The Shanghai Composite looks to drop back from its spike while Emerging Markets stall in their move higher.

The Volatility Index looks to remain low making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe. On the shorter timeframe the SPY is leading the way higher with the QQQ slowly battling back to its high and the IWM poking its head up perhaps to make another attempt at a run higher. Use this information as you prepare for the coming week and trad’em well.

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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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