5 Trade Ideas for Monday: Apple, BlackRock, Monster, Vulcan Materials and YUM

Apple, Ticker: $AAPLWealth Strength IndexAAPL is Extremely Up and trending Up

Apple, $AAPLWealth Strength IndexAAPL is Extremely Up and trending Up, moved out of a short consolidation at the end of September and ran to a top 2 weeks ago. It pulled back and then reversed quickly. It is sitting at the prior high with a RSI that has pulled back from overbought and a MACD that is leveling as it pulls back as well. Look for a push through resistance to participate…..

BlackRock, Ticker: $BLK

BlackRock, $BLK, ended a move up off of the December 2018 low at the start of May. It pulled back from there and then reversed to retest the high. A pullback again, this time to a slightly lower low, also reversed and pushed to a higher high in November. It has consolidated since with the RSI in the bullish zone and the MACD working slightly lower. Look for renewed push higher to participate…..

Monster Beverage, Ticker: $MNSTWealth Strength IndexAAPL is Extremely Up and trending Up

Monster Beverage, $MNSTWealth Strength IndexAAPL is Extremely Up and trending Up, has been in a rut, moving sideways since an August drop. Last week it made a slightly higher high with the RSI in the bullish zone and the MACD positive and rising. Look for continuation to participate higher…..

Vulcan Materials, Ticker: $VMC

Vulcan Materials, $VMC, had a long strong run higher from a December low to a top in September. Since then it pulled back into early November and then found support. It has moved higher since with a RSI moving back towards the bullish zone and the MACD rising toward positive. Look for continuation to participate….

YUM Brands, Ticker: $YUM

YUM Brands, $YUM, made a double top in September and started lower. It gapped down at the end of October and shortly after found support. It held there until last week when it turned back higher. The RSI is rising and near the mid line with the MACD moving higher but still negative. Look for continuation to participate…..

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 one month left in the decade saw equity markets continuing to show strength.

Elsewhere look for Gold to continue its pullback while Crude Oil remains in broad consolidation. The US Dollar Index looks to continue to drift to the upside while US Treasuries continue to channel lower. The Shanghai Composite looks to drift lower as well with Emerging Markets in broad consolidation.

Volatility looks to remain very low keeping the bias to upside for the equity index ETF’s SPY, IWM and QQQ. The SPY and QQQ look to continue to print new all-time highs while the IWM has joined the uptrend and looks to start to play catch up. Use this information as you prepare for the coming week and trad’em well.

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.