5 Trade Ideas for Tuesday: ADP, CME, Graco, MetLife and Altria

• Posted by Greg Harmon
• on February 20th, 2023

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

Automatic Data Processing, Ticker: $ADP

Automatic Data Processing, $ADP, comes into the week pressing against resistance. it has a RSI rising at the midline with the MACD crossed up but negative. Look for a push over resistance to participate…..

CME Group, Ticker: $CME

CME Group, $CME, comes into the week testing resistance. It has a RSI strong in the bullish zone with the MACD positive and rising. Look for a push over resistance to participate…..

Graco, Ticker: $GGG

Graco, $GGG, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive and rising. Look for a push over resistance to participate…..

MetLife, Ticker: $MET

MetLife, $MET, comes into the week at resistance. It has a RSI moving higher with the MACD positive and rising. Look for a break of resistance to participate…..

Altria, Ticker: $MO

Altria, $MO, comes into the week at resistance. it has a RSI in the bullish zone with the MACD 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 with the February options expiration in the books, saw equity markets showing resilience holding up well despite an onslaught of negative inflation news and shifting narrative to further FOMC tightening.

Elsewhere look for Gold to continue its short term pullback while Crude Oil consolidates in a tight range. The US Dollar Index continues to drift to the upside in the downtrend while US Treasuries continue a short term downtrend. The Shanghai Composite looks to continue the pullback in consolidation while Emerging Markets pullback in their uptrend.

The Volatility Index looks to remain normal and stable making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe holding in consolidation after making higher highs. On the shorter timeframe both the QQQ and SPY are holding over support while the IWM has started to move higher out of a bull flag. Use this information as you prepare for the coming week and trad’em 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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