5 Trade Ideas for Monday: Ally, Antero, Alphabet, Honeywell and LPL
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
Ally Financial, Ticker: $ALLY
Ally Financial, $ALLY, comes into the week at resistance. It has a RSI rising out of oversold with the MACD crossed up. Look for a break of resistance to participate…..
Antero Resources, Ticker: $AR
Antero Resources, $AR, coms into the week at resistance. It has a RSI in the bullish zone with the MACD positive and rising. Look for a push over resistance to participate…..
Alphabet, Ticker: $GOOGL
Alphabet, $GOOGL, comes into the week consolidating under resistance. It has a RSI rising over the midline with the MACD positive. Look for a push over resistance to participate…..
Honeywell, Ticker: $HON
Honeywell, $HON, comes into the week at resistance. It has a RSI moving into the bullish zone with the MACD positive. Look for a push over resistance to participate…..
LPL Financial, Ticker: $LPLA
LPL Financial, $LPLA, comes into the week breaking resistance. It has a RSI in the bullish zone with the MACD positive. 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 with only 1 trading day left in the 3rd Quarter of 2024, saw equity markets looking positive.
Elsewhere look for Gold to continue its uptrend while Crude Oil continues to be biased to the downside. The US Dollar Index continues to drift to the downside while US Treasuries remain on the edge of a reversal to an uptrend. The Shanghai Composite looks to continue the stimulus fueled move higher while Emerging Markets begin a new uptrend.
The Volatility Index looks to remain low and stable making the path easier for equity markets to the upside. Their charts look strong, especially on the shorter timeframe with the SPY, IWM and QQQ all biased to move higher. On the longer timeframe both the QQQ and SPY also look better to the upside while the IWM has some work to do to get through resistance. Use this information as you prepare for the coming week and trad’em well.

















