5 Trade Ideas for Tuesday: Crowdstrike, Murphy USA, Netscout, Regeneron and Scotts Miracle-Gro
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
Crowdstrike, $CRWD, comes into the week rising off a 50% retracement of the last leg higher. It has a RSI approaching the midline with the MACD crossed up. Look for continuation to participate…
Murphy USA, $MUSA, comes into the week reversing higher. It has a RSI at the midline with the MACD curling to cross up. Look for continuation to participate…
NetScout Systems, $NTCT, comes into the week approaching resistance. It has a RSI in the bullish zone with the MACD positive. Look for a break of resistance to participate…
Regeneron Pharmaceuticals, $REGN, 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…
Scotts Miracle-Gro, $SMG, 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…
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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 Washington’s Birthday Exchange Holiday and after absorbing both Non-Farm Payrolls and CPI data, saw equity markets show they could use a rest getting knocked back a bit on the week.
Elsewhere, look for Gold to drift between $5000 and $5100 continuing to digest the long move up while Crude Oil moves slightly higher in the consolidation range. The US Dollar Index is showing some weakness again heading toward a 4 year low while US Treasuries continue to hold in the lower end of the consolidation zone. The Shanghai Composite looks to be pausing in the uptrend while Emerging Markets reach for new all-time highs in their uptrend.
The Volatility Index looks to continue to hold in the normal range making it easier for equities to move higher, but with a drift higher. The charts of the SPY and the IWM remain strong on the longer timeframe with the QQQ starting to roll a bit lower. On the shorter timeframe all 3 are in consolidation ranges with the top at the highs but with negative momentum divergences that could lead to short term moves lower. Use this information as you prepare for the coming week and trad’em well.













