5 Trade Ideas for Monday: Arrow Electronics, BP, Berkshire Hathaway, Devon Energy and ExxonMobil

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

Arrow Electronics, Ticker: $ARW

Arrow Electronics, ARW, comes into the week approaching resistance. It has an RSI in the bullish zone and the MACD positive. Look for a push over resistance to participate…

BP, Ticker: $BP

BP, $BP, comes into the week at resistance. It has an RSI in the bullish zone and a MACD positive. Look for a push through and over resistance to participate…

Berkshire Hathaway, Ticker: $BRK.B

Berkshire Hathaway, $BRK.B, comes into the week rounding up from a pullback. It has an RSI rising in the bullish zone with the MACD positive period look for continuation to participate…

Devon Energy, Ticker: $DVN

Devon Energy, $DVN, comes into the week at resistance. It has an RSI in the bullish zone and a MACD positive. Look for a push over resistance to participate…

ExxonMobil, Ticker: $XOM

ExxonMobil, $XOM, comes into the week at resistance. It has an RSI in a bullish zone and a MACD positive period 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 Labor Day shortened week in the books, saw equity markets survived the inflation data with a small loss and were set to head into the FOMC meeting next week.

Elsewhere, look for Gold to continue the pause in its uptrend with Crude Oil in a short term move higher. The US Dollar Index looks to continue in a tight range near par while US Treasuries hold the move lower at 22 year lows in price. The Shanghai Composite looks set to continue lower in consolidation while Emerging Markets creep higher in their uptrend.

The Volatility Index looks to continue low in the normal zone at the lows of the year keeping a tailwind behind equities. The charts of the SPY and QQQ are building ranges over support on the shorter timeframe, while the IWM continues to face greater short term downward pressure. They all continue to look strong on the longer timeframe consolidating at the highs. 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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