Here are the Rest of the Top 10:
Agrium Inc (NYSE:AGU)
Agrium, AGU, has moved sideways in a consolidation over 100 since pulling back from the high to start March. It ended last week with a touch of the 200 day SMA, the first time since December. Oh and that was the start of the last leg higher. The RSI continues to hold mildly bullish while the MACD is crossing down, a bearish signal. Look to follow the move away from the support level, whichever way it goes.
Biomarin Pharmaceutical Inc (NASDAQ:BMRN)
BioMarin Pharmaceuticals, BMRN, broke above an ascending triangle in June. It retested the break out level and then rose just shy of the tart on the pattern. A slight pullback to the 20 day SMA and now there is a tight consolidation range building. The RSI is turned down but remains bullish while the MACD has crossed down, rather un-bullish. A move to new highs or below the 20 day SMA is a trading opportunity.
The Hain Celestial Group Inc (NASDAQ:HAIN)
Hain Celestial, HAIN, has been steadily rising since September 2014. The latest price action sees it consolidating under resistance at 69 with tightening Bollinger Bands® after a leg higher from the rising trend support. The RSI is rolling over though it remains in the bullish zone, while the MACD is crossed down and falling. Watch for a break of the 20 day SMA or a move over resistance.
Landstar System Inc (NASDAQ:LSTR)
Landstar System, LSTR, was on the radar two weeks ago as it consolidated at resistance. Friday broke that resistance to the upside but then pulled back from the high print intraday as it met the February high. Despite the long upper shadow, the Bollinger Bands are opening to the upside while the RSI is bullish and the MACD crossed up and rises. All are bullish signals, and you now have a natural stop area.
The NASDAQ OMX Group Inc (NASDAQ:NDAQ)
Nasdaq OMX, NDAQ, has been trending higher since October, but with some strong pullbacks along the way. Regardless, the series of higher highs and higher lows continues. The price action to close last week saw a test of the May high and move above resistance before pulling back. The Bollinger Bands are opening higher and the RSI is in the bullish zone with a rising MACD. All support more upside price action.
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 last week of July sees the equity markets a bit weaker but mixed with the tech names the strongest.
Elsewhere look for Gold to continue lower along with Crude Oil. The US Dollar Index may move sideways or continue higher while US Treasuries are biased to the upside. The Shanghai Composite is looking stronger and has almost dispelled all possibility of a Dead Cat Bounce while and Emerging Markets are confirming the resumption of the move lower.
Volatility looks to remain subdued keeping the bias higher for the equity index ETF’s ARCA:SPY, ARCA:IWM and NASDAQ:QQQ. Their charts are a bit mixed, with all better on the longer timeframe. The QQQ is the leader on the weekly timeframe with the IWM next and then the SPY. On the shorter timeframe the QQQ’s are also looking the strongest with the SPY and IWM worse, but all biased lower short term. Use this information as you prepare for the coming week and trad’em well.
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 last week of July sees the equity markets a bit weaker but mixed with the tech names the strongest.
Elsewhere look for gold to continue lower along with crude oil. The US Dollar Index may move sideways or continue higher while US Treasuries are biased to the upside. The Shanghai Composite is looking stronger and has almost dispelled all possibility of a Dead Cat Bounce while and Emerging Markets are confirming the resumption of the move lower.
Volatility looks to remain subdued keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts are a bit mixed, with all better on the longer timeframe. The QQQ is the leader on the weekly timeframe with the IWM next and then the SPY. On the shorter timeframe the QQQ’s are also looking the strongest with the SPY and IWM worse, but all biased lower short term. Use this information as you prepare for the coming week and trad’em well.
DISCLAIMER: 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.