Top Trade Ideas: The Week Of March 11, 2013 - The Rest

Here are the Rest of the Top 10:

Bank of New York Mellon, Ticker: BK


Bank of New York Mellon (BK), is breaking higher over resistance at 28.25 after moving p off of the 50 day Simple Moving Average (SMA). It has support for a move higher from a rising and bullish Relative Strength Index (RSI), and a Moving Average Convergence Divergence indicator (MACD) that is turning up and just crossed to positive on the histogram. Both support further upside.

Cerner, Ticker: CERN


Cerner (CERN), is consolidating the move higher from the 20 day SMA in an ascending triangle under 93. The Measured Move higher over the triangle takes it to 95 and then 101. The bullish RSI and the rising MACD support further upside movement.

Cummins, Ticker: CMI


Cummins (CMI), fell back from consolidation to the 50 day SMA before rising back to the at level. It has a rising and bullish RSI and a MACD that is curling up on the signal line, and positive on the histogram to support more upside.

Edwards Lifesciences, Ticker: EW


Edwards Lifesciences (EW), consolidated a move lower at 85 before rising to end last week. Now at resistance, it has a RSI that is rising and bullish and a MACD moving back higher on the signal line and positive on the histogram to support further upside. A move over 95 sends it into the gap higher.

Ford, Ticker: F

Ford (F), pulled back from a top in January and bottomed at 12.102 weeks ago. Now rising again, it is nearing the 50 day SMA and resistance with support for a move higher from a rising and bullish RSI and a MACD rolling back higher on the signal line, and positive on the histogram.

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 which, heading into the March Options Expiration Week sees the equity markets feeling a bit euphoric. Elsewhere Gold looks to continue to consolidate with a downward bias, while Crude Oil slowly is deciding whether it should move back higher. The US Dollar Index is strong like a lion, while US Treasuries act the role of the the lamb. The Shanghai Composite is set up to continue to trend lower in the longer scale uptrend, while Emerging Markets consolidate with a bias to the upside. Volatility looks to remain very low keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ, despite strong moves higher lately. A reversal in US Treasuries could derail the Equity rally, and it would not be surprising if the SPY and IWM consolidated or pulled back a bit in their trends higher. 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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