5 Trade Ideas for Tuesday: ADP, General Dynamics, JP Morgan, 3M and NetApp

• Posted by Greg Harmon
• on June 19th, 2023

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

Automatic Data Processing, Ticker: $ADP

Automatic Data Processing, $ADP, comes into the week at resistance. It has a RSI entering the bullish zone with the MACD positive. look for a push over resistance to participate…..

General Dynamics, Ticker: $GD

General Dynamics, $GD, comes into the week breaking short term resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

JP Morgan Chase, Ticker: $JPM

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

3M, Ticker: $MMM

3M, $MMM, comes into the week attempting to move up off a bottom and near resistance. It has a RSI rising toward the bullish zone with the MACD positive. Look for a break over resistance to participate…..

NetApp, Ticker: $NTAP

NetApp, $NTAP, comes into the week at 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 June Quadruple Witching and FOMC meetings in the books, saw equity markets show continued strength.

Elsewhere look for Gold to continue its consolidation under 2000 while Crude Oil consolidates in a broad range. The US Dollar Index continues to drift lower in the broad consolidation while US Treasuries also move sideways. The Shanghai Composite looks to continue the short term move higher while Emerging Markets move up in consolidation.

The Volatility Index looks to remain very low and stable making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe. On the shorter timeframe both the QQQ and SPY could us a reset on momentum measures as both are extended with the IWM in consolidation in the new short term uptrend. 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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