Crude oil rallied again on the type of geopolitical news that has moved it higher in the past couple months. But with the overall macro bearish for crude these have given us setups for shorts. Here’s another way to take advantage of these moves in related symbols.
COP, VLO, RTY, YM, and more on the Radar. Here are the setups that I am looking at for the first half of the week as well as some other setups that, while not ready for an entry, should be at the top of the list.
While the overall indexes are running into resistance, there are a few strong stocks out there I have my eye on to consider the buy side. These all happen to be restaurant stocks. Let’s look at YUM, MCD, SBUX, and CMG.
While the positive move in the indexes today looks promising, until we break and close above the 50 SMA on the NQ and S&P daily charts, I am staying cautious. I like the transports and the Russell for potential shorts, and I’m stalking longs in MSFT, AMZN, V, COST, and PAYC, but unless we can break resistance, we are going to stay in pinball land.
If markets see more strength next week, it might be worth looking at these names that have held up well through the market’s correction.
There’s strategies that work well in this market, and strategies that can be more difficult. We take tonight’s review to cover each, then move into a few setups to consider for next week.
These are a handful of the names that I like for more weakness. Focusing on relative performance weakness, those names and sectors weaker than the broader averages and sectors can bring the kind of shorts that gravity often offers!
Jackson Hole. All eyes will be on this event Thursday and Friday. The markets seem to be in a good mood as the week wraps up, but where are we going to get opportunistic to the DOWN side? Here’s what is on my radar.
