5 Trade Ideas for Monday: Check Point Software, Capital One, JB Hunt, Packaging Corp and Teck
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
Check Point Software Technologies, Ticker: $CHKP
Check Point Software Technologies, $CHKP, comes into the week breaking resistance. The RSI is in the bullish zone with the MACD positive. Look for continuation to participate…..
Capital One Financial, Ticker: $COF
Capital One Financial, $COF, comes into the week approaching resistance. It has a RSI rising through the midline with the MACD curling up but negative. Look for a push over resistance to participate…..
JB Hunt Transport Services, Ticker: $JBHT
JB Hunt Transport Services, $JBHT, comes into the week breaking resistance. The RSI is rising with the MACD, both approaching the bullish zone. Look for continuation to participate…..
Packaging Corporation of America, Ticker: $PKG
Packaging Corporation of America, $PKG, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a push over resistance to participate…..
Teck Resources, Ticker: $TECK
Teck Resources, $TECK, comes into the week at 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 the September quad witching options expiration in the books and heading into next week’s FOMC meeting, saw equity markets had a weak close out after holding firm.
Elsewhere look for Gold to continue to consolidate under 2000 while Crude Oil continues the trend higher. The US Dollar Index continues to drift to the upside toward a break out while US Treasuries trend lower. The Shanghai Composite looks to continue the trend lower while Emerging Markets continue in broad consolidation.
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 on the longer timeframe, consolidating a trend move higher. On the shorter timeframe both the QQQ and SPY are showing a bit more weakness. The IWM just continues to motor along sideways in consolidation on both timeframes. Use this information as you prepare for the coming week and trad’em well.













