5 Trade Ideas for Monday: Estee Lauder, Fox, MGM, NVIDIA and Schneider National

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

Estee Lauder, Ticker: $EL

Estee Lauder, $EL, comes into the week holding at resistance. It has a RSI in the bullish zone and a MACD positive. Look for a push over resistance to participate…

Fox, Ticker: $FOXA

Fox, $FOXA, comes into the week consolidating at all-time highs. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…

MGM Resorts, Ticker: $MGM

MGM Resorts, $MGM, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…

NVIDIA, Ticker: $NVDA

NVIDIA, $NVDA, comes into the week breaking over resistance. It has a RSI in the bullish zone with the MACD crossing to positive. Look for continuation to participate…

Schneider National, Ticker: $SNDR

Schneider National, $SNDR, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance 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 shortened Christmas week in the books and just 3 trading days left in the year, saw equity markets show mixed strength with the SPY and QQQ rising while the IWM drifted lower.

Elsewhere, look for Gold to continue the uptrend at new all-time highs while Crude Oil holds at the bottom of consolidation on the verge of shifting to a downtrend. The US Dollar Index continues the short term drift to the downside in consolidation while US Treasuries continue in consolidation and looking better lower. The Shanghai Composite looks to continue the sideways motion in the uptrend while Emerging Markets march in place in their uptrend as well.

The Volatility Index looks to continue to hold low in the normal range making it easier for equities to move higher. The charts of the SPY, the IWM and the QQQ look strong on the longer timeframe, with a shift to the large cap SPY leading now. On the shorter timeframe the SPY, the QQQ and the IWM look to have weathered the pullback and are ready to move higher again with the SPY heading the charge. 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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