5 Trade Ideas for Tuesday: AbbVie, ConocoPhillips, J&J, JP Morgan and Oxy Pete

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

AbbVie, Ticker: $ABBV

AbbVie, $ABBV, comes into the week pressing on resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…

ConocoPhillips, Ticker: $COP

ConocoPhillips, $COP, 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…

Johnson & Johnson, Ticker: $JNJ

Johnson & Johnson, $JNJ, comes into the week trying to reverse out of a pullback. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…

JP Morgan, Ticker: $JPM

JP Morgan, $JPM, comes into the week breaking resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…

Occidental Petroleum, Ticker: $OXY

Occidental Petroleum, $OXY, comes into the week trending higher. It has a RSI in the bullish zone with the MACD 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 August in the books and heading into the Labor Day Holiday weekend, saw equity markets hold firm with some minor profit taking Friday.

Elsewhere, look for Gold to continue to press up and through the top of its consolidation zone while Crude Oil drifts in consolidation. The US Dollar Index continues to base in the intermediate term move to the downside, teasing a possible change of character, while US Treasuries continue to consolidate in their downtrend. The Shanghai Composite looks to continue the uptrend to new 10 year highs while Emerging Markets also continue their uptrend.

The Volatility Index looks to continue to hold at low levels making life easier for equity markets to the upside. The chart of the SPY continues to look strong on both timeframes, closing just under Thursday’s all-time high. The QQQ has a short term warning sign with momentum fading but remains strong on the longer timeframe. The IWM more closely resembles the SPY, strong on both timeframes, but measured against its 8½ month high. 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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