5 Trade Ideas for Monday: Apple, Citigroup, IBM, Vertex Pharma and Walmart
5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:
Apple, $AAPL, comes into the week breaking resistance to a new all-time high. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…
Citigroup, $C, 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…
IBM, $IBM, comes into the week rising off the 50 day SMA. It has a RSI in the bullish zone with the MACD positive. Look for continuation to participate…
Vertex Pharmaceuticals, $VRTX, 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…
Walmart, $WMT, comes into the week breaking resistance and at an all-time high. 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 the month of November in the books, saw equity markets weather another shallow pullback and looking strong again.
Elsewhere, look for Gold to continue the uptrend while Crude Oil holds lower in consolidation. The US Dollar Index continues the short term drift to the downside while US Treasuries continue in consolidation still teasing of a possible reversal higher. The Shanghai Composite looks to continue the uptrend after some digestion from the 10 year highs while Emerging Markets find support and reverse in their uptrend.
The Volatility Index looks to continue to hold in the normal range after a pullback, making it easier for equities to move higher. The charts of the SPY, the IWM and the QQQ look strong on the longer timeframe after reversals on the week. On the shorter timeframe the SPY, the IWM and the QQQ have regained their swagger with strong moves higher, the IWM leading the charge. Use this information as you prepare for the coming week and trad’em well.












