Here are the Rest of the Top 10:
Aetna, Ticker: (NYSE:AET)
Aetna, AET, moved higher out of an ascending triangle last week, before Friday’s action pulled back to test the breakout. The MACD is crossed up and the RSI is in the bullish zone, both supporting more upside.
Anthem, Ticker: (NYSE:ANTM)
Anthem, ANTM, also broke above consolidation last week, only to have a retest Friday. It too has a bullish RSI and a MACD that is crossed up and rising. Another leg higher would target a $17 move.
Corning, Ticker: (NYSE:GLW)
Corning, GLW, lifted off of a bottom in October with the market. It has stepped higher since, first to the SMA’s and then to the current resistance at 23.50 where it is consolidating. The RSI is bullish and rising and the MACD pulled back briefly, but is turning up and about to give a buy signal with a cross up.
Halliburton, Ticker: (NYSE:HAL)
Halliburton, HAL, pulled back hard from a top near 74 in July. After a two step move lower, it may be basing for a reversal now. The RSI is rising and the MACD is also rising. It just needs a push over resistance to give it a shot to the upside and a possible gap fill.
Marriott, Ticker: (NASDAQ:MAR)
Marriott, MAR, had been in a long trend higher before pulling back with the market to the October bottom. Since then it has rebounded and is now consolidating under resistance at 79.35. The RSI for this name is in the bullish zone and rising with a MACD that is about to cross up. Watch for a break higher to join in.
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 January Options Expiration week sees the equity markets looking at best to be consolidating. Elsewhere look for Gold to bounce higher in the possible bottoming while Crude Oil continues lower. The US Dollar Index looks ready to pause or pullback in its uptrend while US Treasuries are biased higher.
The Shanghai Composite also may be ready for a pause or short term pullback in the uptrend while the Emerging Markets are consolidating and biased to the downside. Volatility looks to remain subdued but perhaps slightly drifting up, keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ, but less so marginally. Their charts suggest some consolidation is in order and perhaps a short term pullback. 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.