5 Trade Ideas for Monday: Chemed, Dollar Tree, The Hartford, IBM and Valero

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

Chemed, Ticker: $CHE

Chemed, $CHE, started to move up out of consolidation at the start of June. It quickly met resistance and pulled back. Last week that reversed and it started back higher, closing at a new all-time high Friday. The RSI is bullish and rising with the MACD positive and moving higher. Look for continuation to participate…..

Dollar Tree, Ticker: $DLTR

Dollar Tree, $DLTR, rose from a November low, topping out at the end of April. It pulled back to a higher low into May and found support, reversing at the end of the month. Friday it closed, pushing over the April top. The RSI is bullish and rising with the MACD positive and moving up. Look for continuation to participate…..

The Hartford, Ticker: $HIG

The Hartford, $HIG, has been moving higher in a strong trend since a December low. It has a minor pullback 2 weeks ago and last week moved over the prior top. The RSI is bullish with the MACD rising and positive. Look for continuation to participate…..

IBM, Ticker: $IBM

IBM, $IBM, pulled back from a top in October, making a bottom eventually in December. From there it rose, and confirmed a double bottom with a gap up in January. It slowed as it moved over the 200 day SMA and made a top in April. The pullback from there found support at the start of June and reversed. It finished last week at resistance with the RSI rising in the bullish zone and the MACD positive and moving higher. Look for a push over resistance to participate…..

Valero, Ticker: $VLO

Valero, $VLO, fell from a high in October to a low in December. A bounce recovered about half of the drop but then reversed in May. It found support at a retest of the low and is now moving back higher. Friday it moved above the prior two lows with the RSI pushing into the bullish zone and the MACD about to cross to positive. 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 June options expiration complete, saw equity markets looking strong with 1 week left in the first half of the year.

Elsewhere look for Gold to continue in its uptrend while Crude Oil joins it moving higher. The US Dollar Index looks to continue to retrench lower while US Treasuries pause in their uptrend. The Shanghai Composite looks to continue its reversal higher while Emerging Markets continue their short term uptrend.

Volatility looks to remain low keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts all show strength on the longer timeframe. On the shorter timeframe the small caps appear to be weaker than the others 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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