5 Trade Ideas for Tuesday: Alcoa, ADP, Fedex, Fifth Third and J&J
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
Alcoa, $AA, comes into the week pushing higher out of a consolidation. It has an RSI rising in the bullish zone and the MACD flipping to positive. Look for continuation to participate…
ADP, $ADP, comes into the week approaching resistance. It has an RSI in the bullish zone and a MACD positive. Look for a push over resistance to participate…
Fedex, $FDX, comes into the week approaching resistance. It has an RSI in the bullish zone and a macd positive and moving higher. Look for a push over resistance to participate…
Fifth Third, $FITB, comes into the week rounding higher out of a pullback. It has an RSI rising in the bullish zone with the MACD about to turn positive period look for continuation to participate…
Johnson & Johnson, $JNJ, comes into the week rounding higher out of a pullback. It has an RSI rising into the bullish zone with the MACD about to turn positive. Look for continuation to participate…
Up Next: Bonus Idea
The Best
Don’t miss out on the Memorial Day Sale. Get an annual subscription for 30% off. Subscribe here.
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 the unofficial start of summer, saw equities continue to show strength, regaining their swagger following a stumble to start the week.
Elsewhere, look for Gold to continue walking the fence between a downtrend and digestion in the uptrend while Crude Oil bounces around in tightening consolidation around $100/bbl. The US Dollar Index looks to continue to drift higher in broad consolidation while US Treasuries continue to test support and a possible continuation of their downtrend. The Shanghai Composite looks to continue digestion in the short term uptrend while Emerging Markets digest the new highs in their uptrend.
The Volatility Index looks to continue lower in the normal zone, giving a tailwind to equities. The charts of the SPY, the QQQ and the IWM continue to look extremely strong on the longer timeframe with a 8th positive week for the SPY. On the shorter timeframe the SPY, the QQQ and the IWM also look very strong, retesting all-time highs after working off some of the but overheated momentum levels. Use this information as you prepare for the coming week and trad’em well.









