5 Trade Ideas for Tuesday: ASML, CME, GE Aero, Intuitive Surgical and Palo Alto Networks

• Posted by Greg Harmon
• on May 26th, 2024

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

ASML, Ticker: $ASML

ASML, $ASML, comes into the week pushing above resistance. It has a RSI rising off the midline with the MACD positive and moving up. Look for continuation to participate…..

CME Group, Ticker: $CME

CME Group, $CME, comes into the week pressing on resistance. It as a RSI rising from the midline with the MACD positive. Look for a push over resistance to participate…..

GE Aerospace, Ticker: $GE

GE Aerospace, $GE, comes into the week pushing toward resistance. It has a RSI rising in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Intuitive Surgical, Ticker: $ISRG

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

Palo Alto Networks, Ticker: $PANW

Palo Alto Networks, $PANW, comes into the week pushing over 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 unofficial start of summer Monday and just 4 trading days left in May, saw equity markets were mixed with tech strong, large caps flat and small caps lower.

Elsewhere look for Gold to continue to consolidate in the uptrend while Crude Oil resumes a short term downtrend. The US Dollar Index may resume the short term move lower while US Treasuries remain in a downtrend. The Shanghai Composite looks to pause in the short term move higher while Emerging Markets may be confirming a failed break out higher.

The Volatility Index looks to remain very low and stable making the path easier for equity markets to the upside. The charts of the SPY and QQQ look strong, especially on the longer timeframe. On the shorter timeframe the QQQ is also strong with the SPY in consolidation. The IWM continues to be the outlier, consolidating at a higher range. 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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