Dragonfly Capital - 5 Trade Ideas for Tuesday: Cboe, Lockheed, TJX, Ulta Beauty and Vulcan Materials
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
Cboe Global Markets, Ticker: $CBOE
Cboe Global Markets, $CBOE, comes into the week breaking resistance. It has a RSI is the bullish zone with the MACD crossing up. Look for continuation to participate…..
Lockheed Martin, Ticker: $LMT
Lockheed Martin, $LMT, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a break of resistance to participate…..
TJX, Ticker: $TJX
TJX, $TJX, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a break above resistance to participate…..
Ulta Beauty, Ticker: $ULTA
Ulta Beauty, $ULTA, comes into the week moving up to resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..
Vulcan Materials, Ticker: $VMC
Vulcan Materials, $VMC, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD 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. These were selected and should be viewed in the context of the broad Market Macro picture reviewed Friday which with 2023 in the books, saw equity markets showed major strength with a strong move higher in the Nasdaq all year that surpassed the large cap S&P 500 move that started in late 2022.
Elsewhere look for Gold to continue its uptrend while Crude Oil continues to move lower. The US Dollar Index looks to continue to drift to the downside while US Treasuries stall in their uptrend. The Shanghai Composite looks to bounce in its trend lower while Emerging Markets consolidate in a broad range.
The Volatility Index looks to remain very low and stable making the path easier for equity markets to the upside. Their charts look strong, especially on the longer timeframe. On the shorter timeframe the SPY, the QQQ and the small cap IWM could use a reset on momentum measures as all are extended. The IWM is pulling back with the SPY and QQQ looking vulnerable in the short term. Use this information as you prepare for the coming week and trad’em well.











