5 Trade Ideas for Monday: Apple, Bank of America, Gilead, Hartford Insurance and Walmart

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

Apple, Ticker: $AAPL

Apple, $AAPL, comes into the week rising to resistance. It has a RSI at the midline with the MACD crossed up but negative. Look for a push over resistance to participate…

Bank of America, Ticker: $BAC

Bank of America, $BAC, comes into the week at resistance. It has a RSI at the midline with the MACD curling to cross up. Look for a push over resistance to participate…

Gilead Sciences, Ticker: $GILD

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

Hartford Insurance Group, Ticker: $HIG

Hartford Insurance Group, $HIG, comes into the week rounding up from support. It has a RSI rising into the bullish zone and a MACD crossed up. Look for continuation to participate…

Walmart, Ticker: $WMT

Walmart, $WMT, comes into the week rounding out of a pullback. 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 with the January FOMC meeting in the books and a formal announcement of Kevin Warsh as the new Fed Chair nominee, saw equity markets show strength holding near and setting new highs.

Elsewhere, look for Gold to pause in the uptrend after tagging $5600/oz and pulling back while Crude Oil moves higher in the consolidation range. The US Dollar Index is finding its footing after a 4 year low while US Treasuries continue to hold in the lower end of the consolidation zone and looking better lower. The Shanghai Composite looks ready to continue the uptrend at 10½ year highs while Emerging Markets reset momentum gauges after making new all-time highs in their uptrend.

The Volatility Index looks to continue to hold 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 resetting with a retest of the prior high as support. The SPY and QQQ continue to be stuck in consolidation at their highs. 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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