5 Trade Ideas for Tuesday: Apple, BP, Clorox, Deere and Zions Bancorp
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
Apple, Ticker: $AAPL
Apple, $AAPL, comes into the week approaching resistance. It has a RSI rising at the midline with the MACD crossed up but negative. Look for a push over resistance to participate…..
BP, Ticker: $BP
BP, $BP, comes into the week pressing through resistance. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…..
Clorox, Ticker: $CLX
Clorox, $CLX, comes into the week at resistance. It has a RSI rising and the MACD crossing up. Look for a push over resistance to participate…..
Deere, Ticker: $DE
Deere, $DE, comes into the week pressing against resistance. It has a RSI moving into the bullish zone with the MACD crossing up. Look for a push over resistance to participate…..
Zions Bancorporation, Ticker: $ZION
Zions Bancorporation, $ZION, comes into the week approaching resistance. The RSI is 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 heading into January options expiration, saw equity markets showed strength, rising close to a test of important resistance.
Elsewhere look for Gold to continue to move higher while Crude Oil consolidates in a tightening range. The US Dollar Index continues to move to the downside while US Treasuries come closer to an uptrend reversal. The Shanghai Composite looks to possibly shift to an uptrend while Emerging Markets confirm an uptrend.
The Volatility Index looks to remain normal and stable making the path easier for equity markets to the upside. Their charts look strong, especially on the shorter timeframe. On the longer timeframe both the QQQ and SPY are close to testing trend resistance with the IWM on the verge of confirming a trend reversal higher if it can continue through resistance. Use this information as you prepare for the coming week and trad’em well.
