5 Trade Ideas for Tuesday: BlackRock, CF, Cummins, Costco and Honeywell

• Posted by Greg Harmon
• on September 5th, 2022

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

BlackRock, Ticker: $BLK

BlackRock, $BLK, comes into the week holding onto support. The RSI is dropping into the bearish zone with the MACD crossing to negative. Look for a push through support to participate…..

CF Industries, Ticker: $CF

CF Industries, $CF, comes into the week moving higher. It has a RSI rising in the bullish zone with the MACD leveling and positive. Look for continuation to participate…..

Cummins, Ticker: $CMI

Cummins, $CMI, comes into the week testing support. It has a RSI falling toward the bearish zone with the MACD dropping toward zero. Look for a break of support to participate…..

Costco, Ticker: $COST

Costco, $COST, comes into the week pulling back from a lower high. The RSI is falling towards the bearish zone with the MACD crossing to negative. Look for continuation to participate…..

Honeywell, Ticker: $HON

Honeywell, $HON, comes into the week at support. It has a RSI on the edge of the bearish zone with the MACD about to turn negative. Look for a break of support 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 the unofficial end of summer upon us, saw equity markets resumed their losing ways.

Elsewhere look for Gold to continue its pullback while Crude Oil continues to move lower as well. The US Dollar Index continues to drive to the upside while US Treasuries pullback in their downtrend. The Shanghai Composite looks to continue the short term move lower while Emerging Markets remain in a downtrend.

The Volatility Index continues to creep higher making the path easier for equity markets to the downside. Their charts look weak on both timeframes as price approaches the June lows. On the shorter timeframe both the QQQ and SPY have now given up about 61.8% of the bounce from the June low, while the IWM is holding a little stronger at only about a 50% retracement. 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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