Top Trade Ideas For The Week: Nordstrom, Lockheed Martin, Tractor Supply
Dragonfly Capital | Jul 01, 2013 01:39AM ET
Here are the Rest of the Top 10: Nordstrom, Ticker: JWN
Lockheed Martin, Ticker: LMT Northern Trust, Ticker: NTRS Tractor Supply, Ticker: TSCO
Tractor Supply, TSCO, is at resistance and moving higher as the RSI and MACD both support further upside price action. It is now making its 5th higher high after breaking consolidation in April, retesting and holding, with the Bollinger bands opening higher. 
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Valeant Pharmaceuticals, Ticker: VRX
Valeant Pharmaceuticals, VRX, is trying to move higher out of a bull flag. The RSI has remained bullish throughout the pullback and the MACD is flattening. With the Bollinger bands squeezing a move is likely very soon.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 Holiday shortened week sees the Equity markets look tired in their bounce. Look for Gold to consolidate or bounce in its downtrend while Crude Oil is biased higher in the consolidation. The US Dollar Index looks strong and ready to continue higher while US Treasuries may continue their bounce in the downtrend. The Shanghai Composite and Emerging Markets both look to bounce in their downtrends. Volatility looks to remain subdued but drifting higher keeping the bias lower for the equity index ETF’s SPY, IWM and QQQ. Their charts all look to be tired in upward move within their intermediate downtrends in the long term uptrend. 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 Original post
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