Top Trade Ideas for the Week of June 13, 2016: The Rest

• Posted by Greg Harmon
• on June 12th, 2016

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

Here are the Rest of the Top 10:

BioTelemetry, Ticker: $BEAT

BioTelemetry, $BEAT, has been moving higher since finding a bottom in February. There have been a couple of steps higher with gaps, each reaching overbought conditions before resetting for the next leg up. With the current consolidation the RSI is holding in the bullish zone and the MACD is falling, but positive. Look for a push over 17 to participate to the upside….

CBOE, Ticker: $CBOE

CBOE, $CBOE, bounced off of a low in February but stalled before it could get into the gap down that formed in December. It pulled back from there and made a higher low to start May. Since then it has consolidated under resistance. The RSI is pushing to a higher high and the MACD crossing up as it moved strongly higher to that resistance Friday. Look for a break above to participate in the upside…..

Honeywell, Ticker: $HON

Honeywell, $HON, rose from a bottom in January, finally hitting resistance and stalling in April. Since then it has consolidated, moving sideways, until Thursday. That is when it broke resistance to the upside. Friday pulled back to retest the breakout. The RSI is in the bullish zone and the MACD is rising. Look for a hold and reversal to participate to the upside…..

Intuitive Surgical, Ticker: $ISRG

Intuitive Surgical, $ISRG, run up from the February low, finding resistance in mid-April. Since then a shallow pullback and it is back at resistance. The RSI is in the bullish zone and the MACD is flat after a pullback. Look for a push over resistance to participate to the upside…..

Mastercard, Ticker: $MA

Mastercard, $MA, also made a low with the market in February. It started back higher and stalled in April and has moved sideways since. Last week saw a push down at the end of the week taking the RSI through the mid line. The MACD is flat. Look for a break below support to participate to the downside…..

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The Best

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 June Options Expiration week and the FOMC meeting sees the equity indexes taking a little breather to the downside, after big moves. It would be troublesome if it turns into more.

Elsewhere look for Gold to continue higher in the short term while Crude Oil continues its trend higher. The US Dollar Index continues to trend lower in the short term in broad consolidation while US Treasuries are breaking out higher. The Shanghai Composite continues to hold steady in the downtrend and Emerging Markets are biased to the downside short term in their broad consolidation.

Volatility looks to remain low but may creep up a bit keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ, but with less support that previously. Their charts are set to continue to digest the recent moves higher, with the QQQ weakest and then the IWM and the SPY holding well on the longer term charts. Use this information as you prepare for the coming week and trad’em well.

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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 Dragonfly Capital Views Performance Through May 2016 and sign up here

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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