Top Trade Ideas For The Week Of June 17, 2013: The Rest

Here are the Rest of the Top 10:

Cincinnati Financial, Ticker: CINF


Cincinnati Financial (CINF), has pulled back from a top at 50 and has been consolidating under the 100 day Simple Moving Average (SMA). The Relative Strength Index (RSI) is starting to improve, and is making a higher high while the Moving Average Convergence Divergence indicator (MACD) is turning back higher on the signal line and near a positive cross on the histogram. This is a bottoming play candidate.

Ellie Mae, Ticker: ELLI


Ellie Mae (ELLI), is building a bull flag at the 50 day SMA and just under the 200 day SMA. As it built energy for a move, its RSI is trending higher and on the verge of a move into bullish territory with a MACD that is moving up. Both support more upward price action.

Gentiva Health Services, Ticker: GTIV


Gentiva Health Services (GTIV), is consolidating the breakout of two different ascending triangles. It has a rising and bullish RSI and a MACD that is moving higher, also bullish.

Illinois ToolWorks, Ticker: ITW


Illinois ToolWorks (ITW), is building a bull flag as it consolidates the latest move higher, sitting on the lower Bollinger Band®. The RSI has pulled back to the midline and is holding as the MACD pulls back, showing signs of leveling in the histogram.

Rockwood, Ticker: ROC

Rockwood (ROC), has meandered after reaching the Potential Reversal Zone (PRZ) of the bearish Butterfly. During the last few days it has found support at the 50 day SMA, and and is moving over the 20 day SMA in two strong bullish candles and on good volume Friday. The RSI is rising and has remained bullish throughout, with the MACD turning back higher.

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. Heading into the next week, Gold continues to consolidate or move lower, while Crude Oil continued to rise. The U.S. Dollar Index and Treasuries were biased lower. The Shanghai Composite and Emerging Markets were biased to the downside as well. Volatility looked to remain subdued, but is slowly trending higher, keeping the bias higher in the short run for the equity index ETF’s SPY, IWM and QQQ.
Their charts also show signs of a pullback with the SPY and QQQ both weaker than the IWM. Use this information as you prepare for the coming week and trad’em well and have a great Father’s Day!

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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