Top Trade Ideas: Week Of April 29, 2013 - The Rest

Here are the Rest of the Top 10:

AFLAC, Ticker: AFL


Graco, GGG, is also approaching resistance at the top of an expanding wedge. These can often be a top but it has two things going for it. The RSI is making a new high as the MACD has turned higher, and is also making a new higher high. The Tweezers Top is putting a downside damper on it.

Marvell Technology, Ticker: MRVL


Marvell Technology, MRVL, is at prior resistance, but arrives with a rising RSI and a MACD that is turned up on the signal line, and crossed for the first time since the top and cross down in mid March.

Salix Pharmaceuticals, Ticker: SLXP


Salix Pharmaceuticals, SLXP, is reaching prior resistance with a bullish and rising RS,I and a MACD that has turned up and crossed to positive.

United Parcel Service, Ticker: UPS

United Parcel Service, UPS, is at prior resistance with a rising and bullish RSI and a MACD that has turned up and is positive.

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 Saturday. As we head into May and everyone tells you to sell and go away, looks for Gold to stall in the bounce while Crude Oil continues higher. The U.S. Dollar Index seems content to move sideways again, while U.S. Treasuries are biased high, but may also continue to consolidate. The Shanghai Composite is looking better to the downside, with Emerging Markets looking to consolidate. Volatility looks to remain a no issue, keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. The reversal candlestick patterns to end the week, suggesting a pullback for the coming week. Longer term, the uptrends remain with the QQQ looking the strongest. 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.

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