5 Trade Ideas for Monday: Applied Materials, CBOE, Cigna, Deere and Vertex Pharma

• Posted by Greg Harmon
• on July 16th, 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 resistance. It has a RSI in the bullish zone with the MACD level and positive. Look for a push over resistance to participate…..

Cboe Global Markets, Ticker: $CBOE

Cboe Global Markets, $CBOE, comes into the week piercing resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Cigna, Ticker: $CI

Cigna, $CI, comes into the week breaking resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push higher to participate…..

Deere, Ticker: $DE

Deere, $DE, comes into the week approaching resistance. The RSI is in the bullish zone with the MACD flat and positive. Look for a push over resistance to participate…..

Vertex Pharmaceuticals, Ticker: $VRTX

Vertex Pharmaceuticals, $VRTX, comes into the week at resistance. It has RSI in the bullish zone with the MACD crossing up and 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 heading into July options expiration, saw that equity markets showed strength moving higher all week until some profit taking Friday.

Elsewhere look for Gold to possibly reverse higher while Crude Oil rises in consolidation. The US Dollar Index broke through support and looks to continue lower while US Treasuries remain in consolidation. The Shanghai Composite looks to continue consolidation as well while Emerging Markets continue a short term move higher.

The Volatility Index looks to remain very low and stable making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe. On the shorter timeframe the IWM, the QQQ and SPY all broke clear of short term consolidation and have upside room. 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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