Top Trade Ideas for the Week of February 18, 2014: The Rest

• Posted by Greg Harmon
• on February 16th, 2014

Here are the Rest of the Top 10:

BB&T, Ticker: $BBT

BB&T, $BBT, had a sharp pullback through January on declining volume. After touching the 50 day Simple Moving Average (SMA) it bounced higher and is testing the 20 day SMA and prior resistance.

Boston Scientific, Ticker: $BSX

Boston Scientific, $BSX, also pulled back with the market finding support at the 50 day SMA before bouncing. Now it is moving higher and at previous resistance with support for more upside.

Catamaran, Ticker: $CTRX

Catamaran, $CTRX, is approaching the previously important 53 level with Bollinger bands opening higher. Over all of the SMA’s it has historically been able to move substantially higher before stalling.

Halliburton, Ticker: $HAL

Halliburton, $HAL, is consolidating after a move higher off of 48 and a brief touch at the 200 day SMA. The consolidation has moved it back within the Bollinger bands as it builds a bull flag.

Visa, Ticker: $V

Visa, $V, also pulled back with the market in a sharp fashion, finding support at the 50 day SMA. Now moving through resistance, it has crossed the 20 day SMA as it rises.

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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 holiday shortened President’s week sees the equity markets looking strong. Elsewhere look for Gold to continue in its uptrend while Crude Oil remains biased higher as it consolidates. The US Dollar Index looks better to the downside while US Treasuries look to be consolidating again. The Shanghai Composite and Emerging Markets are biased to the upside now. Volatility looks to remain subdued keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ, despite their strong moves higher this week. Their charts also look better higher with the QQQ and SPY perhaps a bit stronger looking than the IWM. Use this information as you prepare for the coming week and trad’em well.

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