Top Trade Ideas for the Week of September 26, 2011: Bonus Idea

• Posted by Greg Harmon
• on September 25th, 2011

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

Hershey Foods, Ticker: $HSY

Hershey Foods rose strongly off of support of the 50 day Simple Moving Average (SMA) and is now at previous resistance. But it got there with a long bullish Marubozu candle on Friday. It also has a Relative strength Index (RSI) that is strong and has held over 50 and an Moving Average Convergence Divergence (MACD) indicator that kissed and is moving higher, both supporting more upside. If it can get over 59.70, then it has free air higher and targets of 60.70 and 63.

The Best

The Rest

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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 rolling into the last week of the third Quarter, looks for Gold and Oil to see more downside. The US Dollar Index and US Treasuries look to continue higher. The Shanghai Composite and Emerging Markets also look to continue their down moves. Volatility looks to remain elevated and possibly break higher. The equity Index ETF’s, SPY, IWM, and QQQ are all looking better to the downside. The QQQ again may be the key to holding the market together. If it loses support of the flag, the SPY and IWM could take the whole market lower. A spike in Volatility and continued moves higher in Treasuries and the Dollar Index should ensure it. Use this information as you prepare for the coming week and trade’m 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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