5 Trade Ideas for Monday: CBOE, Cigna, Cencora, Gilead and Williams

• Posted by Greg Harmon
• on October 15th, 2023

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

Cboe Global Markets, Ticker: $CBOE

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

Cigna, Ticker: $CI

Cigna, $CI, comes into the week having broken above resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Cencora, Ticker: $COR

Cencora, $COR, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Gilead Sciences, Ticker: $GILD

Gilead Sciences, $GILD, comes into the week breaking resistance. The RSI is in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Williams Cos, Ticker: $WMB

Williams Cos, $WMB, comes into the week approaching resistance. It has a RSI in the bullish zone with a MACD 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 the heart of earnings season, saw equity markets show early strength but get spooked at the end of the week, giving up most or all of their gains.

Elsewhere look for Gold to continue its possible reversal to the upside while Crude Oil drives higher as well. The US Dollar Index looks to continue to move to the upside while US Treasuries settle in their uptrend. The Shanghai Composite looks to continue lower while Emerging Markets consolidate over long term support.

The Volatility Index looks to remain low but with a bias higher, making the path more difficult for equity markets to the upside. Their charts look weak on the shorter timeframe with late week reversals from lower highs continuing short term downtrends. On the longer timeframe both the QQQ and SPY are holding in bullish ranges with momentum gauges reset and ready to move back higher. The IWM continues in consolidation on that timeframe though. 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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