Market

Aflac, CF, Ciena, Microsoft and Vulcan Materials

5 Trade ideas excerpted from the detailed analysis and plan for premium subscribers:

Aflac, Ticker: $AFL

Aflac, $AFL, comes into the week testing support. The RSI is on the verge of a move into the bearish zone with the MACD negative and falling. Look for a push under support to participate…..

CF Industries, Ticker: $CF

CF Industries, $CF, comes into the week holding at resistance at the 200 day SMA. The RSI is rising and the MACD moving higher. Look for a push over resistance to participate…..

Ciena, Ticker: $CIEN

Ciena, $CIEN, comes into the week at support and the 200 day SMA. The RSI is falling in the bearish zone with the MACD negative and crossed down. Look for a drop through support to participate…..

Microsoft, Ticker: $MSFT

Microsoft, $MSFT, comes into the week dropping back to support. It has a RSI falling in the bullish zone and a MACD dropping but positive. Look for continuation through support to participate…..

Vulcan Materials, Ticker: $VMC

Vulcan Materials, $VMC, comes into the week trying to round out a bottom after a pullback. The RSI is turning back higher with the MACD leveling but negative. 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 heading into the September Options Expiration week, saw equity markets have started what has been there monthly pre-expiry pullback for the 5th month in a row.

Elsewhere look for Gold to consolidate while Crude Oil also spends time moving sideways. The US Dollar Index continues in an intermediate term consolidation while US Treasuries consolidate at the retest of the 2019 highs. The Shanghai Composite looks to be breaking out of a long term broad consolidation to the upside while Emerging Markets consolidate in a short term bull flag.

The Volatility Index looks to be creeping higher making the path harder for equity markets to the upside. Their charts remain strong, especially on the longer timeframe for the SPY and QQQ with the IWM in the long term consolidation. On the shorter timeframe the SPY the IWM and the QQQ look to see an easier path to the downside short term. Use this information as you prepare for the coming week and trad’em well.

 

If you like what you see above sign up for deeper analysis and trading strategy by using the Get Premium button above. As always you can see details of individual charts and more on my StockTwits page.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.


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