5 Trade Ideas for Monday: BP, CME, CVS, Monster Beverage and Atlassian

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

BP, Ticker: $BP

BP, $BP, comes into the week breaking above short term resistance. It has a RSI on the cusp of the bullish zone with the MACD positive. Look for continuation to participate…

CME Group, Ticker: $CME

CME Group, $CME, 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…

CVS Health, Ticker: $CVS

CVS Health, $CVS, comes into the week pushing up through resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…

Monster Beverage, Ticker: $MNST

Monster Beverage, $MNST, 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…

Atlassian, Ticker: $TEAM

Atlassian, $TEAM, comes into the week moving up off a pullback. It has a RSI rising in the bearish zone with the MACD curling to cross up. 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 heading into next week’s FOMC meeting, saw equity markets show resilience snapping back after a news driven sell off to start the week.

Elsewhere, look for Gold to continue the uptrend in pursuit of $5000/oz while Crude Oil drifts in the consolidation range. The US Dollar Index is shifting to the downside continue to hold at 3½ month lows in consolidation and looking better lower. The Shanghai Composite looks ready to continue the uptrend at 10½ year highs while Emerging Markets continue to make new all-time highs in their uptrend.

The Volatility Index looks to hold low in the normal range making it easier for equities to move higher. The charts of the SPY, the IWM and the QQQ remain strong on the longer timeframe with the IWM leading. On the shorter timeframe the IWM is also strong but possibly ready for a pause after new all-time highs. The SPY and QQQ continue to be stuck in 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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