5 Trade Ideas for Monday: CME, Grainger, Halliburton, IBM and Pfizer

• Posted by Greg Harmon
• on March 6th, 2022

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

CME Group, Ticker: $CME

CME Group, $CME, comes into the week moving up off a higher low. It has a RSI rising in the bullish zone with the MACD about to cross up. Look for continuation to participate…..

W.W. Grainger, Ticker: $GWW

W.W. Grainger, $GWW, comes into the week rotating higher. The RSI is rising toward the bullish zone with the MACD rising towards positive. Look for continuation to participate…..

Halliburton, Ticker: $HAL

Halliburton, $HAL, comes into the week at a 40 month high. It has a RSI pushing back higher in the bullish zone with the MACD turning to cross up. Look for continuation to participate…..

IBM, Ticker: $IBM

IBM, $IBM, comes into the week moving higher off a higher low. The RSI is rising and the MACD about to cross up. Look for continuation to participate…..

Pfizer, Ticker: $PFE

Pfizer, $PFE, comes into the week reversing off the 200 day SMA. The RSI is rising and the MACD is crossed 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 which one week into the conflict in the Ukraine saw the equity markets looking jittery and volatile.

It is not helping that it is also a time when the Fed Chairman is speaking before Congress just two weeks before what has been a widely anticipated shift to a tightening monetary policy cycle. Are we having fun yet?

Elsewhere look for Gold and Crude Oil to continue their moves higher toward all-time highs. The US Dollar Index also looks to continue to the upside while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue in broad consolidation while Emerging Markets resumes its downtrend.

The Volatility Index looks to remain at a high level keeping the skittish news driven choppiness for equity markets. Their charts are looking weak on the shorter timeframe, making a series of lower highs since the end of the year tops. On the longer timeframe there are some mixed messages with the SPY continuing to hold over 7 month support, the IWM in sideways consolidation in a possible bear flag and the QQQ drifting lower in what might be a reversal pattern. Use this information as you prepare for the coming week and trad’em well.

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

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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