5 Trade Ideas for Monday: Clorox, Eaton, Lockheed Martin, PPG and Unilever

• Posted by Greg Harmon
• on January 2nd, 2022

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

Clorox, Ticker: $CLX

Clorox, $CLX, comes into the week pressing higher off the 20 day SMA. It has a RSI rising in the bullish zone and a MACD positive and turning to cross up. Look for continuation to participate….

Eaton, Ticker: $ETN

Eaton, $ETN, comes into the week at resistance. It has a RSI rising into the bullish zone and a MACD positive and climbing. look for a push over resistance to participate…..

Lockheed Martin, Ticker: $LMT

Lockheed Martin, $LMT, comes into the week at short term resistance. The RSI is rising in the bullish zone with the MACD positive and moving up. Look for a push over resistance to participate…..

PPG, Ticker: $PPG

PPG, $PPG, comes into the week at resistance with the RSI in the bullish zone and the MACD positive and rising. Look for continuation higher to participate…..

Unilever, Ticker: $UL

Unilever, $UL, comes into the week near resistance as it pushes higher. The RSI is rising in the bullish zone with the MACD positive and moving 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. As the books close on 2021, equity markets posted a good year for tech and large caps while small caps marked time the entire year.

Elsewhere look for Gold to continue its rise in consolidation while Crude Oil continues a short term move higher. The US Dollar Index looks to consolidate in the uptrend while US Treasuries churn in a range sideways. The Shanghai Composite looks to continue broad consolidation while Emerging Markets continue the downtrend.

The Volatility Index looks to remain in the normal range making the path easier for equity markets to the upside. The charts of the large cap SPY and tech heavy QQQ look strong on the longer timeframe, with the SPY leading the way. On the shorter timeframe both the QQQ and SPY remain near all-time highs but with stalling momentum, suggesting possible short term erosion. The IWM remains content to hold in the consolidation range that has held it almost all of 2021. 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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