5 Trade Ideas for Monday: Cboe, Salesforce, Edwards Lifesciences, Honeywell and Intercontinental Exchange

• Posted by Greg Harmon
• on June 23rd, 2024

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

Cboe Global Markets, Ticker: $CBOE

Cboe Global Markets, $CBOE, comes into the week at resistance. It has a RSI rising at the midline with the MACD crossed up. Look for a push over resistance to participate…..

Salesforce, Ticker: $CRM

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

Honeywell, Ticker: $HON

Honeywell, $HON, comes into the week after breaking yearlong resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..

Intercontinental Exchange, Ticker: $ICE

Intercontinental Exchange, $ICE, 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 June quadruple witching in the books in the books, saw equity markets a bit gassed after a good start.

Elsewhere look for Gold to continue its consolidation in the uptrend while Crude Oil moves higher in consolidation. The US Dollar Index continues the short term move to the upside while US Treasuries continue their short term move higher in the secular downtrend. The Shanghai Composite looks to continue the short term trend lower while Emerging Markets look to be on the verge of breaking consolidation to the upside.

The Volatility Index looks to remain very low making the path easier for equity markets to the upside. The charts of the SPY and QQQ look strong, especially on the longer timeframe, but with possible reversal or digestion candles this week. On the shorter timeframe both the QQQ and SPY could us a reset on momentum measures as both are extended and pullbacks are helping there. The IWM continued to go nowhere moving mainly sideways in the upper part of the 2½ year consolidation. 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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