5 Trade Ideas for Monday: Applied Materials, Caterpillar, McDonald’s, NVIDIA and Visa

• Posted by Greg Harmon
• on September 24th, 2023

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

Applied Materials, Ticker: $AMAT

Applied Materials, $AMAT, comes into the week approaching support. It has a RSI in the bearish zone with the MACD negative and dropping. Look for a break of support to participate…..

Caterpillar, Ticker: $CAT

Caterpillar, $CAT, comes into the week approaching support. It has a RSI dropping in the bullish zone with the MACD about to turn negative. Look for a break of support to participate…..

McDonald’s, Ticker: $MCD

McDonald’s, $MCD, comes into the week trending lower. It has a RSI in the bearish zone with the MACD negative. Look for continuation to participate…..

NVIDIA, Ticker: $NVDA

NVIDIA, $NVDA, comes into the week approaching support. It has a RSI in the bearish zone with the MACD negative. Look for a break of support to participate…..

Visa, Ticker: $V

Visa, $V, comes into the week approaching 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 the September FOMC meeting in the books and one week left in the 3rd Quarter, saw equity markets run into a buzz saw in reaction to Powell’s comments.

Elsewhere look for Gold to continue in consolidation while Crude Oil continues the uptrend. The US Dollar Index continues to drift to the upside with a potential longer term break out higher while US Treasuries pullback in their downtrend. The Shanghai Composite looks to continue in long term consolidation along with Emerging Markets.

The Volatility Index looks to remain low and stable making the path easier for equity markets to the upside. Their charts, however, are looking weak especially on the shorter timeframe. On the longer timeframe both the QQQ and SPY are on the cusp of a downtrend but with positive momentum. The IWM continues to slowly tighten the range 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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