5 Trade Ideas for Monday: Arch Capital, Albemarle, Cincinnati Financial, NVIDIA and Atlassian

• Posted by Greg Harmon
• on August 22nd, 2021

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

Arch Capital, Ticker: $ACGL

Arch Capital, $ACGL, moved into consolidation last week. It ended the week at the top of the zone with the RSI rising into overbought territory and the MACD flat and positive. Look for a push over resistance to participate…..

Albemarle, Ticker: $ALB

Albemarle, $ALB, ended last week bouncing higher after a pullback. It has a RSI reversing higher with the MACD pulling back but positive. Look for continuation to participate…..

Cincinnati Financial, Ticker: $CINF

Cincinnati Financial, $CINF, ended last week breaking a short term consolidation to the upside. It has a RSI rising in the bullish zone and a MACD positive and climbing. Look for continuation to participate…..

NVIDIA, Ticker: $NVDA

NVIDIA, $NVDA, ended last week rising up to resistance. It has a RSI rising in the bullish zone and a MACD crossing up and positive. Look for a push over resistance to participate…..

Atlassian, Ticker: $TEAM

Atlassian, $TEAM, ended last week breaking through resistance. It has a RSI that has reset lower in overbought territory with the MACD level after a pullback. 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 monthly options expiration in the books, saw equity markets tackling their 4th monthly expiration week dip and ending the week moving back up.

Elsewhere look for Gold to continue to consolidate while Crude Oil pulls back. The US Dollar Index continues to move to the upside while US Treasuries also work in an uptrend. The Shanghai Composite looks to pullback in consolidation while Emerging Markets trend lower.

The Volatility Index looks to remain low making the path easier for equity markets to the upside. Their charts look mixed on the shorter timeframe with the SPY and QQQ driving back towards their alltime highs while the IWM holds at the bottom of a long consolidation range. The longer timeframe shows the SPY strong and trending higher with the QQQ in a short consolidation at the top and the IWM stuck in that long consolidation. 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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