15 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 15th 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:
Markets appear to be in Wave 3 of 5 of Major 3 of Primary 3 up to all time highs. I’ve discussed 6100 as an SP 500 target several weeks ago as a 5th wave LOW END target. First though we had to complete a 4th wave which we did at 5120 ES futures (SP 500) and then I noted to my subscribers we were in a Wave 1 of 5 of 5 up… we peaked, pulled back in a 2, and now wave 3 seems underway. Each large 5 wave move is made up of 5 smaller waves within, if this is Wave 3 it tends to be the most bullish of waves 1, 3 and 5.
At any rate, as long as QQQ ETF holds 447 area and SP 500 5325 loosely we are remaining bullish short to intermediately, but as always with swing trade services its literally one day and one week at a time. You have to project, monitor and adjust always. However having a general idea of the current road map you are on helps tremendously on when to be proactive and bullishly aggressive and when to be cautious.
SRP has seen nice gains this past week or two in several positions including ZETA, DOCS, ADMA recently. Even during the wave 2 downturn we went slow putting out new positions and held ZETA and DOCS which have recently pushed up to nice profits. 3 new positions went out this past week as alerts.
Also the weekly swing trade ideas list should not be ignored. I update it every weekend and it’s my best ideas which I then monitor daily to determine if to alert new positions for members etc. It also acts as a list of additional great ideas to consider. AFRM up 14%% last week off this list, FOUR up 9.5% last week , OSCR also pushed up 27% last week, AGI 14% gain last week off this list also. ONON up 9% last week, all have been removed from the list.
SP 500
Notes from September 5th update to SRP members, I had continued to look for Wave 2 of 5 recently and the action suggests that completed in low 5400’s. QQQ at 447.
Sept 5 chart for reference
QQQ- Wave 5
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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
9/15/24 Updated List, names added, deleted etc.
AFRM up 14%% last week off this list, FOUR up 9.5% last week , OSCR also pushed up 27% last week, AGI 14% gain last week off this list also. ONON up 9% last week, all have been removed from the list.
TGTX – 4 weeks consolidation near highs. Develops and commercialization of novel treatments for B-cell
diseases.
RYTM – 10 week base near highs, could break out. Develops and commercializes peptide therapeutics for the
treatment of rare neuroendocrine diseases.
NMIH – 7 week base, and with interest rates dropping should see higher earnings ahead. Provides private mortgage insurance in 50 states and the District of Columbia.
RXST – 4 weeks tight closings, could push higher soon on right side of base. Develops and markets adjustable intraocular lens optimized for every unique eye after a cataract surgery
PEGA – 8 week base consolidation near close. Develops business process management software for companies in the
financial services, healthcare
FOUR – Multiple weeks on the list, now 5 week base and looks poised to break out. Provides integrated payment processing and technology solutions in the United States
PLNT – 5 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 26 area. Pursuing phase 3 trial in Alzheimers. Recent massive short covering from $9 to $40, now consolidating 27-32 area.
ADMA – SRP position as of last week. Needs to hold 16 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 – SRP position as of last week. 27 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.
DOCS – SRP Position ripped higher late last week after we sat on the consolidation … Offers cloud-based platform for medical professionals and physicians with tools across 50 states
CWAN – Needs to hold 23, 7 week overall base following strong earnings. Provides SaaS solutions for investment data aggregation, accounting, analytics, and reporting services.
ZETA – Hitting highs, still attractive. 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
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