5 Trade Ideas for Monday: Baker Hughes, CBOE, Edwards Lifesciences, Fortinet and Wells Fargo

• Posted by Greg Harmon
• on December 12th, 2021

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

Baker Hughes, Ticker: $BKR

Baker Hughes, $BKR, comes into the week moving through short term resistance. The RSI is rising into the bullish zone and the MACD turned positive. Look for continuation to participate…..

CBOE Global, Ticker: $CBOE

CBOE Global, $CBOE, comes into the week at resistance. The RSI is holding in the bullish zone with the MACD crossed up. Look for a push over resistance to participate…..

Edwards Lifesciences, Ticker: $EW

Edwards Lifesciences, $EW, comes into the week at resistance after a strong reversal higher. The RSI is rising into the bullish zone with the MACD positive and climbing. Look for a push over resistance to participate…..

Fortinet, Ticker: $FTNT

Fortinet, $FTNT, comes into the week moving back higher after a pullback. The RSI is rising through the midline with the MACD about to cross up. Look for continuation to participate…..

Wells Fargo, Ticker: $WFC

Wells Fargo, $WFC, comes into the week at short term resistance. The RSI is rising in the bullish zone and the MACD is crossed up about to turn 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 heading into December options expiration week, saw equity markets showed resilience with a rebound from an ugly prior 2 weeks.

Elsewhere look for Gold to continue in consolidation while Crude Oil may resume the uptrend. The US Dollar Index continues to trend higher while US Treasuries look to be back in consolidation. The Shanghai Composite remains in consolidation while Emerging Markets continue to trend lower.

The Volatility Index has moved back into the normal range making the path easier for equity markets to the upside. Their charts look strong, especially the large caps and tech stocks. On the shorter timeframe the SPY is leading with a new all-time high, then the QQQ just off the pace. On the longer timeframe both the SPY and QQQ look very strong. The IWM is now back in consolidation and floundering again. 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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