5 Trade Ideas for Monday: Bristol-Myers, CME, Coke, Lockheed and Pfizer

• Posted by Greg Harmon
• on January 23rd, 2022

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

Bristol-Myers Squibb, Ticker: $BMY

Bristol-Myers Squibb, $BMY, comes into the week pulling back from a top. It has a RSI dropping in the bullish zone with the MACD crossed down. Look for continuation to participate….

CME, Ticker: $CME

CME, $CME, comes into the week pulling back from a top. The RSI is dropping in the bullish range with the MACD about to cross down. Look for continuation to participate…..

Coca-Cola, Ticker: $KO

Coca-Cola, $KO, comes into the week stalling at a top. The RSI is rolling lower with the MACD crossed down. Look for a break of support to participate…..

Lockheed Martin, Ticker: $LMT

Lockheed Martin, $LMT, comes into the week pulling back from a gap fill. The RSI is dropping from overbought territory with the MACD turning lower. Look for continuation to participate…..

Pfizer, Ticker: $PFE

Pfizer, $PFE, comes into the week pulling back from a new high. The RSI is on the edge of the bearish zone with the MACD negative and dropping. Look for continuation 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 January options expiration in the books, saw equity markets off to an ugly start for 2022.

Elsewhere look for Gold to continue higher in consolidation while Crude Oil continues the uptrend. The US Dollar Index continues to drift to the upside in consolidation while US Treasuries consolidate. The Shanghai Composite looks to consolidate as well while Emerging Markets continue the downtrend.

The Volatility Index looks to remain elevated, possibly moving higher, making the path easier for equity markets to the downside. Their charts look weak and trending lower on the shorter timeframe. On the longer timeframe both the QQQ and SPY are shifting into troubled looks. The IWM is now in a downtrend. 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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