5 Trade Ideas for Monday: Chemed, Cognizant, FedEx, Old Dominion and Sealed Air
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
Chemed, Ticker: $CHE
Chemed, $CHE, comes into the week reversing after a quick drop from the start of October. The RSI is rising out of oversold territory with the MACD curling up towards a cross. Look for continuation to participate…..
Cognizant Technology Solutions, Ticker: $CTSH
Cognizant Technology Solutions, $CTSH, comes into the week breaking over resistance. The RSI is rising and bullish with the MACD crossed up. Look for continuation to participate…..
FedEx, Ticker: $FDX
FedEx, $FDX, comes into the week rounding up out of a bottom. The RSI is rising out of oversold territory with the MACD crossed up. Look for continuation to participate…..
Old Dominion Freight Lines, Ticker: $ODFL
Old Dominion Freight Lines, $ODFL, comes into the week at resistance. The RSI is rising in the bullish zone with the MACD crossed up and positive. Look for a push through to participate…..
Sealed Air, Ticker: $SEE
Sealed Air, $SEE, comes into the week pushing up towards resistance. It has an RSI rising through the midline with the MACD crossed up and climbing towards positive. Look for a push over resistance to participate…..
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After reviewing over 1,000 charts, I have found some good setups for the week. This week’s list contains the first five below to get you started early. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with the October options expiration in the books, saw equity markets showing signs of a rebound from an ugly 10 week stretch.
Elsewhere look for Gold to continue in consolidation while Crude Oil continues in an uptrend. The US Dollar Index continues its short term move to the upside while US Treasuries are in position to possible reverse to the upside. The Shanghai Composite looks to continue the broad drift sideways while Emerging Markets trend lower.
The Volatility Index looks to remain very low making the path easier for equity markets to the upside. The charts of the SPY and QQQ look strong, especially on the longer timeframe where they are showing signs of a resumption of the long uptrend. On the shorter timeframe both the QQQ and SPY still have some work to do but are also looking promising. The IWM however remains in the long consolidation with no signs of that changing. Use this information as you prepare for the coming week and trad’em well.



















