5 Trade Ideas for Monday: CBOE, Coca-Cola Europe, Chemed, Ross Stores and Varian

• Posted by Greg Harmon
• on January 5th, 2020

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

Cboe Global Markets, Ticker: $CBOE

Cboe Global Markets, $CBOE, broke out of a triangle consolidation in November and rose to a new high. The pullback from there retested the break out are and is now consolidating under resistance. The RSI is rising in the bullish zone with the MACD positive and moving higher. Look for a push over resistance to participate…..

Coca-Cola European Partners, Ticker: $CCEP

Coca-Cola European Partners, $CCEP, made a top in October and then quickly dropped. It found support in November and consolidated. Last week it moved up to resistance with the RSI rising to the bullish zone and the MACD near a cross to positive. Look for a push over resistance to participate…..

Chemed, Ticker: $CHE

Chemed, $CHE, topped in August and then started to pullback. It found support in October and reversed. For the past 3 weeks it has held at prior resistance with the RSI in the bullish zone and the MACD flat but positive. Look for a push over resistance to participate…..

Ross Stores, Ticker: $ROST

Ross Stores, $ROST, started higher in May and continues today. The price is currently meeting resistance with the RSI in the bullish zone and the MACD positive and rising. Look for a push over resistance to participate…..

Varian Medical, Ticker: $VAR

Varian Medical, $VAR, made a top in April and then drifted lower. That turned into a free fall in July which found support in August. It has recovered from that drop and has been moving higher since October. Last week it pushed over the April high with a RSI that has reset from overbought and a MACD positive and turning up. 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 that saw with the decade ended and now a new one begun, that equity markets looked extended.

Elsewhere look for Gold to continue higher while Crude Oil moves to the upside. The US Dollar Index continues to look better to move lower while US Treasuries pause in their downtrend. The Shanghai Composite looks poised to continue higher along with Emerging Markets which are breaking above long term resistance.

The Volatility Index looks to remain low making the path easier for equity markets to the upside. Their charts look strong on the longer timeframe, but are starting to get extended. On the shorter timeframe the IWM is retracing while the SPY looks like it might pause with the QQQ continuing to race higher but the most extended. 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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