5 Trade Ideas for Monday: Caterpillar, Five Below, Goldman Sachs, Horizon Therapeutics and IBM

• Posted by Greg Harmon
• on September 19th, 2021

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

Caterpillar, Ticker: $CAT

Caterpillar, $CAT, comes into the week testing support in a pullback. The RSI is dipping into the bearish zone with the MACD negative and dropping. Look for a break of support to participate…..

Five Below, Ticker: $FIVE

Five Below, $FIVE, comes into the week moving higher after a pullback. The RSI is reversing higher as well and the MACD turning to cross up. Look for a push over resistance to participate…..

Goldman Sachs, Ticker: $GS

Goldman Sachs, $GS, comes into the week testing prior support. It has a RSI on the edge of a move into the bearish zone with the MACD falling and near zero. Look for a break of support to participate…..

Horizon Therapeutics, Ticker: $HZNP

Horizon Therapeutics, $HZNP, comes into the week moving up towards resistance. It has a RSI rising in the bullish zone with the MACD turning to cross up. Look for a push over resistance to participate…..

IBM, Ticker: $IBM

IBM, $IBM, comes into the week nearing support and the 200 day SMA. The RSI is falling in the bearish zone with the MACD negative and dropping. 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 Triple Witching in the books, saw equity markets continue to show some signs of short term weakness.

Elsewhere look for Gold to continue its pullback in consolidation while Crude Oil continues a short term move higher. The US Dollar Index continues to move to the upside while US Treasuries consolidate. The Shanghai Composite looks to continue to pullback from resistance while Emerging Markets continue a short term move lower.

The Volatility Index looks to remain at moderate levels removing the stimulus for equity markets to the upside. Their charts reflect this, especially on the shorter timeframe with the SPY and QQQ continuing to pullback. On the longer timeframe the QQQ and SPY remain in healthy uptrends. The IWM remains detached from them in consolidation on both timeframes. 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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