5 Trade Ideas for Monday: Analog Devices, Cincinnati Financial, Walt Disney, Nasdaq and Weyerhaeuser

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

Analog Devices, Ticker: $ADI

Analog Devices, $ADI, bottomed in March and started higher into April. It continued to a top in early June and has been consolidating there since. The RSI is moving higher in the bullish zone with the MACD crossing higher. Look for a push over resistance to participate…..

Cincinnati Financial, Ticker: $CINF

Cincinnati Financial, $CINF, did not follow the broader market when it reversed higher in March. Instead the stock continued to move lower, making a bottom in May. Since then it has moved higher, and ended last week back near the June high. The RSI is rising and bullish with the MACD positive and moving up. Look for a push over resistance to participate…..

Walt Disney, Ticker: $DIS

Walt Disney, $DIS, tarted higher in March and continued to a top at the 200 day SMA in June. It pulled back from there and made a higher low at the end of the month before reversing higher. Now it is meeting resistance again with the RSI rising in the bullish zone and the MACD crossed up and moving higher. Look for a push over resistance to participate…..

Nasdaq, Ticker: $NDAQ

Nasdaq, $NDAQ, rapidly dropped through March but then nearly totally recovered within a month. It slowed the pace higher into June and then moved to a new high into July. It is consolidating now with the RSI in the bullish zone and the MACD crossed up and positive. Look for a push over resistance to participate…..

Weyerhaeuser, Ticker: $WY

Weyerhaeuser, $WY, ran to a low in March, giving up nearly 60% of the stock’s value. The rebound has been slower than the market but is continuing with the break out of a symmetrical triangle Friday. The RSI is rising in the bullish zone with the MACD crossing 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 July Options Expiration sees the equity markets are showing renewed strength.

Elsewhere look for Gold to continue its uptrend while Crude Oil consolidates over support. The US Dollar Index continues to drift to the downside while US Treasuries possibly may be resuming their uptrend. The Shanghai Composite looks to continue the drive higher while Emerging Markets also move to the upside.

The Volatility Index looks to remain elevated, but moving lower, making the path easier for equity markets to the upside. Their charts look strong on both timeframes with the exception of the small caps. The QQQ is leading the charge on both timeframes as it seems to set new all-time highs every day. The SPY had a strong finish to the week and looks ready to break higher as well. The IWM however remains stuck in consolidation on both timeframes. 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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