5 Trade Ideas for Monday: Allstate, BP, ConocoPhillips, Edwards Lifesciences and General Dynamics

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

Allstate, Ticker: $ALL

Allstate, $ALL, 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…

BP, Ticker: $BP

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

ConocoPhillips, Ticker: $COP

ConocoPhillips, $COP, 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…

Edwards Lifesciences, Ticker: $EW

Edwards Lifesciences, $EW, comes into the week rounding up from a pullback. It has a RSI nearing the midline with the MACD curling up and negative. Look for continuation to participate…

General Dynamics, Ticker: $GD

General Dynamics, $GD, comes into the week poking above resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation 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 coming into the end of the 3rd Quarter, saw equity markets look strong as they held up well in what historically was a soft seasonal environment just shy of record highs.

Elsewhere, look for Gold to continue the uptrend to new highs while Crude Oil drifts in consolidation. The US Dollar Index continues to run sideways in consolidation, while US Treasuries may be in the early stages of reversing their downtrend but need more convincing. The Shanghai Composite looks to continue the short term consolidation in the uptrend to new 10 year highs while Emerging Markets also continue their uptrend at 4 year highs.

The Volatility Index looks to continue to hold at low levels, making life easier for equity markets to the upside. The charts of the SPY, the IWM and the QQQ are all strong on both timeframes. The SPY and the QQQ added another all-time high closes to start the week and along with the IWM look poised for that to continue into the 4th Quarter.

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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