08 Sep Weekly Stock Market Forecast and Swing Trading Ideas Report
TheMarketAnalysts.Com
Weekly Stock Market Forecasts, Charts, and Swing Trading Ideas List and Strategies Report
Week of September 8th 2024
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General Market Summary plus Swing Trade Ideas List:
Updated David Banister Market and Elliott Wave Views on SP 500 and more plus the weekly swing trade ideas list is at bottom of this report
Markets, Charts and more:
SRP has been going slow of late with only a few positions being opened due to market conditions. The top performing stock on Friday was our IOT which smashed earnings and pushed over 17% higher on the day and we sold for nice gains on the final 1/2. Just a few positions remain open at this time as we are patient before adding new alerts. The swing trade ideas report is updated at the bottom of this report.
Notes from June 9th report 2024:
Intermediately my outlook remains the same for upside to 5700-5800. Often the market can hold up in June and July but frequently August-October is volatile at best and this year we have the early November Presidential Election to add in to volatility perhaps.- 6/9/24 Report
So far Wave 4 bottomed in the 5120 area for ES (SP 500 futures) This was followed by a massive rally which I’ve been calling wave 1 up of 5 of 5… now we are possibly retracing that rally with 5325 ES area to watch near term after closing at 5403 on Friday. This 5403 level is about 260 points off the 5665 Wave 1 highs
This is a chart I did on Thursday morning Pre Market before the end of week smash down projecting ongoing wave 2
Here is an updated ES 4 hour chart
My May 17th Chart I did (Repeated below for reference) updated forecasted a Wave 3 rally to 5625-5800 well in advance, then I projected 5300 as a minimal pullback for Wave 4, we bottomed in low 5100’s… now we are in Wave 5 to all time highs if I’m right, but first this nasty pullback… if we get much below 5200 I’ll get concerned
May 17th- Long Term Banister Wave Count is bullish. Intermediately we can stretch my 5625-5800 ranges
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Swing Trade ideas list is updated at the bottom of this report reflecting current market conditions and relative leaders based on my review of fundamentals and chart patterns both.
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- List is updated every Sunday, names removed if they broke out to the upside strongly and or broke down.
- New names added, many names repeated if still in a bullish pattern.
- A lot of stocks will pull back harshly right before a big breakout reversal, so be advised
9/8/24 Updated List, names added, deleted etc.
PLNT – 4 weeks tight closings near highs. Operates 2,410 fitness centers with approximately 17 million members in 50 states, Puerto Rico and Canada.
SAVA – Needs to hold 25.50 area. Pursuing phase 3 trial in Alzheimers. Recent massive short covering from $9 to $40, now consolidating 27-32 area.
ADMA – Needs to hold 15.50 area on close. Nice consolidation, IBD #1 on the IBD 50 this week. Develops/manufactures specialty plasma-based biologics for the treatment/prevention of infectious diseases.
YOU – 26 area key to hold if market pulls back further. Nice consolidation after big run, IBD top 50 play. Provides secure identity platform, using biometrics to automate identity verification process through lanes.
AFRM – 36.30 area key to hold. Nice rip after earnings recently and now consolidation. Pullback may provide better entry. Provides information technology solutions for digital and mobile-first commerce and financial services.
SKWD – Needs to hold 39. 6 week consolidation near highs. Offers commercial property and casualty products and solutions predominantly in the U.S.
FOUR – Needs to hold 76 area , could finally break to highs out of multi month base. Provides integrated payment processing and technology solutions in the United States.
OSCR – Offers health insurance built around a full-stack technology platform focused on serving its members.
DOCS – SRP Position… Big pop on earnings …Offers cloud-based platform for medical professionals and physicians with tools across 50 states
CWAN – Needs to hold 23, 6 week overall base following strong earnings. Provides SaaS solutions for investment data aggregation, accounting, analytics, and reporting services.
BTSG – Hit uptrend highs over 13 on 9/5/24… Post IPO multi month base could break out soon. Provides care-provider and complementary pharmacy services through over 10,000 providers in all 50 states
ZETA – We sold for nice gains at SRP but still hitting highs on 9/5. Operates cloud platform that provides enterprises with consumer intelligence & marketing automation software
AGI – Needs to hold 18.25 on this pullback as of 9/5 Canadian company engaged in the exploration and development of gold properties primarily in Mexico/Turkey.
TRN – Still consolidating as of 9/5, needs to hold 32. Engages in manufacturing, operation and leasing of railcars and logistics services, and steel compo
PPC – Needs to hold 43.50… Produces prepared and fresh chicken in the U.S., Mexico and Puerto Rico for the foodservice industry.
ONON – Broke out off this list, pullback needs to hold 43… Switzerland-based Co operates in 10,000 retail stores worldwide that offer premium sports shoes and apparel.
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