5 Trade Ideas for Tuesday:  Caterpillar, Chevron, Intel, Metlife and NXP Semi

• Posted by Greg Harmon
• on September 4th, 2023

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

Caterpillar, Ticker: $CAT

Caterpillar, $CAT, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..

Chevron, Ticker: $CVX

Chevron, $CVX, comes into the week breaking resistance. It has a RSI in the bullish zone and a MACD positive. Look for continuation to participate…..

Intel, Ticker: $INTC

Intel, $INTC, comes into the week approaching resistance. The RSI is in the bullish zone with the MACD crossed up and positive. Look for a push over resistance to participate…..

MetLife, Ticker: $MET

MetLife, $MET, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD crossing up and positive. look for a push over resistance to participate…..

NXP Semiconductor, Ticker: $NXPI

NXP Semiconductor, $NXPI, comes into the week approaching resistance. It has a RSI rising up to the bullish zone with the MACD crossed up. 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 the unofficial end of summer Labor Day holiday, saw equity markets show resilience with a rebound higher off support ending the downtrend.

Elsewhere look for Gold to continue to consolidate near its high while Crude Oil looks to start a trend higher. The US Dollar Index continues its short term trend to the upside while US Treasuries stall in their pullback. The Shanghai Composite looks to pause in the downtrend while Emerging Markets consolidate.

The Volatility Index looks to remain very low making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe. On the shorter timeframe both the QQQ and SPY also look better to the upside. The IWM looks strong on the shorter timeframe but stuck in consolidation on the longer scale. 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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