Top Trade Ideas for the Week of April 11, 2011: Bonus Idea

• Posted by Greg Harmon
• on April 10th, 2011

Here is your Bonus Idea with links to the full Top 10:

Corn Products, Ticker:$CPO

Corn Products fell out of a consolidation channel and then moved higher off of support of the 100 day Simple Moving Average (SMA). It is now in a classic bull flag with falling volume after two moves higher of about $5 each. If it can move higher again, above 53, then the target on a measured move is 58. Watch for the Moving Average Convergence Divergence (MACD) indicator to stop falling and the Relative Strength Index (RSI) to reverse as signals the move may be imminent. The move higher in Corn Futures tonight bodes well for a break out.

The First 5

The Rest

(As always you can see details of individual charts and more on my StockTwits feed and on chartly.)

After reviewing over 700 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 looks for continued moves higher in Gold and Crude Oil as well as continuations lower for both the US Dollar Index and US Treasuries. The Shanghai Composite should continue its run higher but the Emerging Markets may need to consolidate before further upside. The Volatility Index should remain tame. The Equity Index ETF’s all show signs of a potential pullback or consolidation with the QQQ looking the strongest and the IWM the weakest. Use this information to understand the major trend and how it may be influenced as you prepare for the coming week ahead. Trade’m well.

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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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