5 Trade Ideas for Tuesday: Adobe, Amgen, CME, Fedex and Morgan Stanley
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
Adobe, Ticker: $ADBE
Adobe, $ADBE, 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…..
Amgen, Ticker: $AMGN
Amgen, $AMGN, 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…..
CME Group, Ticker: $CME
CME Group, $CME, 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…..
Fedex, Ticker: $FDX
Fedex, $FDX, 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…..
Morgan Stanley, Ticker: $MS
Morgan Stanley, $MS, comes into the week at resistance. It has a RSI in the bullish zone with the MACD positive. Look for a move away 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 the unofficial end of summer and with August in the books, saw equity markets show a preference for some rest after the 3 week move higher.
Elsewhere look for Gold to continue its uptrend while Crude Oil consolidates in a tightening range. The US Dollar Index continues to bounce to the upside while US Treasuries consolidate in their downtrend. The Shanghai Composite looks to continue the downtrend while Emerging Markets consolidate over support in a possible start of 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 longer timeframe. On the shorter timeframe the week long consolidation left the SPY with just 2 hours to rocket to just shy of a new all-time high close while the QQQ and the IWM ended near the high of the week. All are prepped to start September stronger. Use this information as you prepare for the coming week and trad’em well.













