Here are the Rest of the Top 10:
Allegiant Travel, $ALGT, is moving up against resistance for the third time, from a series of marginally higher lows. The RSI is at the cusp of entering the bullish zone and the MACD is rising in support of more upward price action.
Alexion Pharmaceuticals, $ALXN, is also approaching a resistance zone for the third time. Its RSI is in the bullish range and the MACD is moving up.
CBOE, $CBOE, is pressing at resistance as well as it sits near the 200 day SMA. The RSI is bullish and rising with a MACD doing the same, both supporting further upside.
Cummins, $CMI, has been in a rising channel since July 2013. The past two weeks have tested the bottom of the channel and held. The RSI has worked of a technically oversold condition and trending higher with a MACD that is rising and crossed up last week. look for a break over short term resistance to move toward the SMA’s above and the top of the channel.
Intelliquent, $IQNT, is a bottoming and reversal play. The fast move lower at after their earnings release July 24th has settled and price is reversing. The RSI has worked off the technically oversold condition and is rising and the MACD has crossed up.
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, as the books are closed on the August Options Expiration and we head into the last week of Summer sees the equity markets are still with some turbulence. Elsewhere look for Gold to bounce around the 1300 level while Crude Oil continues to be biased lower, but mindful of the bounce Friday. The US Dollar Index looks toppy and possibly ready for a correction lower while US Treasuries continue to be biased higher. The Shanghai Composite and Emerging Markets are consolidating but with the Chinese market biased higher and Emerging Markets having trouble at resistance and looking toppy. Volatility looks to remain low keeping the bias higher for the equity index ETF’s SPY, IWM and QQQ. Their charts show that all look good on the longer timeframe but the QQQ the strongest in the short term with the SPY close behind and the IWM the weakest. Use this information as you prepare for the coming week and trad’em well.
Want to join Dragonfly Capital Views?
Sign up here for the full Top 10 and more!
Recommended for You
Retail appetite for risk may be drying up, if last week’s unsettling action in the sexy social-media corner of the market is any indication.Plus, the “smart money” is signaling trouble ahead in housing....MarketWatch
Bill Gross' latest monthly investment outlook...Business Insider
David Einhorn, the founder of Greenlight...Business Insider
This compact laser supports not only wireless printing, but also automatic duplexing for double-sided goodness. Plus: a $60 security freebie!CNET
Monday's top analyst upgrades, downgrades and initiations include Lululemon, Tesla, Twitter, Disney and Whiting Petroleum.24/7 Wall St.
If you own a home and pay for a mortgage, you could reduce your payments by an average of $3K a year. Here's how it works.
Technically Incorrect: Australian police decide that their Twitter feed is the place to amuse followers after a house search.CNET
Job cuts are prevalent across the board at Texas energy companies. Whether it’s oilfield services, manufacturing, construction or E&P, firms are dealing with less demand amid tumbling oil prices. Oilfield services Over the past six months, the world’s three largest oilfield services firms have cut…American City Business Journals
The photos focus on his toddler having fun on the set with Ewoks, Yoda, R2-D2 and more.CNET
When almost no one believes the market is dangerous, that’s when it is the most dangerous, writes Michael Sincere.MarketWatch28 mins ago
May 4 -- McDonald’s CEO Steve Easterbrook is restructuring the restaurant chain into four segments, saying the key to snapping its sales slump is improving operations at the store and company levels. Bloomberg’s Susan Berfield reports on “In The Loop.”Bloomberg Video
There remain a large number of offshore drilling bears out there, but don't count Zephirin Group's Longdley Zephirin among them. He explains why he thinks investors should start scooping up offshore drillers like Transocean (RIG) and Rowan (RDC)--and why Seadrill (SDRL) is a top pick: We remain…Barrons.com
Warren Buffett, Berkshire Hathaway CEO, explains why he bought shares of IBM, and weighs in on how he chooses companies.CNBC Videos
Cisco shares fell after the company announced Chuck Robbins would replace John Chambers as CEO, effective July 26, with Chambers set to become executive chairman.TheStreet.com
The president of fight promoter Top Rank Inc. said the company plans to pursue legal action following widespread piracy of Saturday's Floyd Mayweather-Manny Pacquiao fight on video-sharing smartphone apps ...Los Angeles Times
And it could cost them money.Money
The Trans-Pacific Partnership, until recently background noise for many Americans, is about to become another field of battle in Washington. The debate in Washington has two parts. If the fast track bill passes -- and Japan, New Zealand, and other, nations favoring the TPP accord have made this a…The Fiscal Times
Tobacco companies derive their revenues from the sale of cigarettes, cigars, smokeless tobacco and e-cigarettes.TheStreet.com
Billionaire Dan Gilbert, whose Cleveland Cavaliers face declining odds of winning the 2015 National Basketball Association championship, is getting a consolation prize from the bond market: $1 billion of cheap debt. Gilbert’s closely held Quicken Loans Inc. raised $1.25 billion on Friday in its…Bloomberg