5 Trade Ideas for Monday: CF Industries, Honeywell, Interactive Brokers, McKesson and Vertex Pharma

• Posted by Greg Harmon
• on August 7th, 2022

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

CF Industries, Ticker: $CF

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

Honeywell, Ticker: $HON

Honeywell, $HON, comes into the week pressing on resistance. The RSI is in the bullish zone with the MACD rising and positive. Look for a push over resistance to participate…..

Interactive Brokers, Ticker: $IBKR

Interactive Brokers, $IBKR, comes into the week approaching resistance. It has a RSI rising in the bullish zone and a MACD positive and moving higher. Look for a push over resistance to participate…..

McKesson, Ticker: $MCK

McKesson, $MCK, comes into the week at an all-time high. The RSI is rising in the bullish zone and the MACD is climbing. Look for continuation to participate…..

Vertex Pharmaceuticals, Ticker: $VRTX

Vertex Pharmaceuticals, $VRTX, comes into the week rising towards resistance. It has a RSI rising in the bullish zone with the MACD turning back higher. 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 the first week in August over, saw equity markets continue to show strength on both timeframes and on the cusp of a full blown reversal.

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

The Volatility Index looks to continue lower in the normal range making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe. On the shorter timeframe both the IWM and SPY are approaching key levels to confirm an intermediate term reversal. The QQQ continues to move higher after printing a higher high. 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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