5 Trade Ideas for Monday: CBOE, Crocs, Generac, ICE and Tractor Supply

• Posted by Greg Harmon
• on June 13th, 2021

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

Cboe Global Markets, Ticker: $CBOE

Cboe Global Markets, $CBOE, comes into the week back at resistance with the Bollinger Bands® opening after a squeeze. The RSI is holding in the bullish zone with the MACD leveling but positive. Look for a push over resistance to participate…..

Crocs, Ticker: $CROX

Crocs, $CROX, started higher in April with a gap up and quickly met resistance. It has been consolidating since. The RSI is rising in the bullish zone with the MACD turning to cross up and positive. Look for a push over resistance to participate…..

Generac, Ticker: $GNRC

Generac, $GNRC, comes into the week at short term resistance. The RSI is rising in the bullish zone and the MACD is positive and moving higher. Look for a break of resistance to participate…..

Intercontinental Exchange, Ticker: $ICE

Intercontinental Exchange, $ICE, popped out of a symmetrical triangle and stopped short of the target $11 move to 126. It pulled back and comes into the week pressuring resistance with the RSI moving higher and the MASCD crossed up. Look for a move over resistance to participate…..

Tractor Supply, Ticker: $TSCO

Tractor Supply, $TSCO, made a top in May and then pulled back into consolidation. It comes into the week at resistance with the RSI driving higher and the MACD curling to cross up. 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 heading into the June options expiration week, saw equity markets revving their engines and heating up as they drift around all-time highs.

Elsewhere look for Gold to consolidate around 1900 while Crude Oil breaks higher. The US Dollar Index remains consolidating from the downtrend while US Treasuries started a nascent move to the upside. The Shanghai Composite looks to continue to consolidate the break higher while Emerging Markets stick in broad consolidation over the long term range.

The Volatility Index looks to remain very low making the path easier for equity markets to the upside. Their charts also look strong, especially on the longer timeframe with the SPY leading the way. On the shorter timeframe all 3 are breaking higher, with the SPY at all-time highs. The QQQ is trending higher and less than $1 from its high while the IWM breaks a long consolidation pattern less than $3 from its high. 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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