5 Trade Ideas for Monday: Boeing, BoNY, Caterpillar, Cirrus Logic and Lilly

• Posted by Greg Harmon
• on June 4th, 2023

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

Boeing, Ticker: $BA

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

Bank of New York, Ticker: $BK

Bank of New York, $BK, comes into the week rising to resistance. It has a RSI rising and the MACD crossed up. Look for a push over resistance to participate…..

Caterpillar, Ticker: $CAT

Caterpillar, $CAT, comes into the week running up to resistance. It has a RSI in the bullish zone with the MACD rising towards positive. Look for a push through resistance to participate…..

Cirrus Logic, Ticker: $CRUS

Cirrus Logic, $CRUS, comes into the week at resistance. It has a RSI rising near the midline with the MACD crossed up. Look for a push over resistance to participate…..

Eli Lilly and Company, Ticker: $LLY

Eli Lilly and Company, $LLY, comes into the week at resistance. It has a RSI rising in the bullish zone with the MACD positive and turning higher. Look for a push through 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 month of May in the books, saw equity markets showed strength as they moved into June.

Elsewhere look for Gold to continue to retrench in the long term uptrend while Crude Oil consolidates in a broad range. The US Dollar Index continues to drift to the upside in consolidation while US Treasuries consolidate. The Shanghai Composite looks to consolidate in a slow drift lower while Emerging Markets consolidate.

The Volatility Index looks to remain very low and stable as it sits at the lowest level in over 3 years, making the path easier for equity markets to the upside. Their charts look strong, especially the SPY and QQQ, but now the IWM joining them. On the shorter timeframe the QQQ is venturing into overbought territory and may need a pause while the SPY and IWM look ready to take over leadership if that is the case. The longer timeframe shows the SPY ready to overtake the August highs, joining the QQQ while the IWM breaks a long range 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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