Top Trade Ideas for the Week of September 12, 2011: Bonus Idea

• Posted by Greg Harmon
• on September 11th, 2011

Here is your Bonus Idea with links to the full Top Ten:

Yahoo!, Ticker: $YHOO

Yahoo! is moving higher out of a bull flag with Relative Strength Index (RSI) rising and the Moving Average Convergence Divergence (MACD) increasing. If it can get over 14.55 then it has resistance at 14.96 followed by the area from 15.77-15.90 and then 16.75.

The Best

The Rest

(As always you can see details of individual charts and more on my StockTwits feed and on chartly.)

After reviewing over 900 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 Saturday which presented the coming week as positive for US Treasuries and the US Dollar Index. Gold looks to continue to be biased higher and Crude Oil lower, but both may also continue in the respective bull and bear flags. The Shanghai Composite and Emerging Markets continue to favor the downside. Volatility looks to remain elevated with a bias towards heading higher. This backdrop suggests favoring a downside bias in the US Equity Index ETF’s SPY, IWM, and QQQ. They may continue to hold their bear flags but a big push higher in the US Dollar Index and US Treasuries are likely to push Volatility higher out of its range and lead to the Equity flags breaking lower. Use this information as you prepare for the coming week and trade’m 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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