Stock Reversals | Weekly State of the Markets and Swing Trading Ideas Report
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Weekly State of the Markets and Swing Trading Ideas Report



SWING TRADING OF 3X ETF’S , STOCKS,  E MINI SP 500 FUTURES,  AND GROWTH STOCK RESEARCH SERVICES VIA SUBSCRIPTION Members get an exclusive 25% coupon offer to join our SRP Swing Trade subscription service. 

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Weekly  Stock Market and Trading Strategies Report Week of  June 29th

“At a time like this, I really appreciate people like you who have chosen to give back/pay it forward when it’d prob be easier to just trade for yourself. Thanks for literally sharing the wealth!”  Cam- 3x ETF member

Notes: Several charts to review, market with lots of topping signals 

  • ABC wave 2 count takes over for SP 500 etc, could be some more downside ahead (Chart)
  • End of quarter rotation, re-balancing having effects into month end
  • Put to Call ratio rises after being abnormally low near market highs recently (Chart)
  • A few indicators charted showing extreme exuberance readings for Tech etc vs SP 500  (See Charts)
  • NASI Indicator toppy short term for NASDAQ stocks (Tech, Biotech) (Chart)
  • Biotech should still lead, pulling back a bit after early surge last week 
  • Swing Trade ideas updated

Recent results:

Stock ,ETF , and SP 500 Futures Swing Trading plus Growth Stock Investing

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It’s best to belong to three or four of my subscription offerings at the same time to have the most opportunities across all market conditions with multiple shots on goal! Asset allocation as a Trader is key for long term success in all environments– Dave

Another great week across the 4 services for members:

  • Stocks- Closed out PRVB, CORT and part of ATOM for nice gains on all *8% plus*, raised cash levels high
  • 3x ETF- Booked 14% gain on LABU early in week, entered TZA and DRV (Shorts) late in week
  • ES Futures- Booked a 30 point gain early in week, guided members ahead of downside
  • TPS-  One of our recent plays is poised to double we think

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Auto-Trade ES Futures service– $149 a Month, $349 Quarterly, We auto execute Micro-MINI contracts $1,500 per contract roughly for members who are too busy to handle alerts and trading on their own.  Track Record on fire since Late April change to Micro-Mini’s. 

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General Market Summary:  Updated Banister Market and Elliott Wave Views on SP 500

 SP 500 and Other  commentary: TOPPING OUT?? Signals persist of irrational exuberance

Last Weeks SP 500 Forecast Note: June 21st Report

“We did not get much above 3170 which was my high end marker to watch. So at this point a C wave down to 2910-2835 is still possible to complete an ABC Correction off the 3233 SPX highs…

I can make a case that we are in a new set of 5 waves up from the 2760 area, and if so after this pullback we rip higher to all time highs in a 3rd wave of 5 up.  The other option remains valid that we are correcting that entire move of 5 waves from 2191 to 3300 area and this is a larger degree Wave 2 which would take SP 500 to 2835 or lower even.”

The preferred view that we were correcting the rally from March 23 lows to 3233 highs came into clear play. I also had discussed the end of quarter stock/bond re-balancing that is coming, plus window dressing, and Russell Index changes causing issues.  They did as we saw a lot of volatility last week.

Trading the behavioral waves

In the 3x ETF service first we were super bulls on Monday going long LABU (3x Bull Biotech) off last weeks bullish charts in the weekly report. We saw a 14% gain from our entry in 24 hours and took it.  Later in the week we were working into BEAR positions via TZA and DRV 3x Bear ETF’s.  So you have to be able to swing with the moves and anticipate them in advance to profit, and importantly TAKE PROFITS!  In all my services we have profit taking methodologies that are deployed every time without fail.

The market should continue some volatility possibly for a few weeks after the 13 week rally. We also have the pension fund monies usually coming in early July after the re-balancing so this week should be volatile along with the Friday holiday for the 4th of July.  A light  volume trading week could exacerbate moves.  Then we will be getting ready for the 2nd quarter earnings reports soon as well, prepare for some roller coaster action.

Keep your eyes on that 2910 and 2825-2830 zones for the SP 500, areas I’ve been pointing out for  a few weeks as possible ABC Wave 2 bottoms

There are multiple warnings over last few weeks of topping indicators, see a few interesting charts in the “Other Indicators” section below. Short term issues are extremes in optimism and trading of tech stocks by retail investors, NASI momentum indicator for NASDAQ looking toppy etc, and MSCI Growth vs Value buying at extremes.  

Charts below:

SP 500 ABC Pattern updated:

NASI momentum indicator Toppy

PUT TO CALL Ratio adjusting



 Other Sentiment Indicators and or Charts: LOTS OF TOPPING INDICATORS

MSCI Growth to Value Stock ratio at soaring highs , higher than 1999, 2007, 2015 tops 


 NASDAQ Trading volume vs SP 500 also at highs not seen since 1999 dot com bubble top





 Investment Advisor’s extremely bullish with few Bears: (Contrarian signal)

One of the many indicators I use to help me feel more confident in my Elliott Wave projections includes Investment Advisor surveys.  57.3% Bullish Advisors vs only 18.4% Bears.   Typically when we are at 3 to 1 ratio its at extremes, often near market interim tops. We are currently correcting that advance from March 23 lows.


Advice for 2019

Consider joining my subscription services at TheMarketAnalysts.Com for tradeable ideas and updates daily, 3x ETF, SP 500 Futures, Stock Swing Trading and Long Term Growth stocks (CRBP one example)

If not you can follow my comments during the week: 

  • Twitter @stockreversals
  • Stocktwits @stockreversals for commentary and or in my subscription services to stay up to speed daily. 
  • Follow me on  Linked In as well where I provide periodic updates to professionals

Each week I try to come up with some fresh ideas, repeats as well if they have not broken out yet, or I remove prior ideas if they already ran up.

Last weeks big winners were BOX and CORT, action was rough late in week

Repeated from Last week:   (Consolidating or did not yet break out) 

GMAB- 3rd week in row on list, 3 week ascending base is bullish. This was on my list in the 20 area weeks back as a Post IPO Biotech play. Now in the 32 area, still looks good though.

SAIL- 3rd week in row on list. 6 week base pattern right side of base.  Identity software that assists organizations.

AAXN-  3rd week in row on list. Law enforcement devices like Body Cams etc. 4 week corrective base. Should see orders explode going forward given the police issues around the country

TSM- 4 weeks tight base building a bullish right side of base for this chip maker

DOYU- Post IPO Breakout after 11 months. Chinese stocks getting hot, provide online gaming services, this has a nice 2 weeks tight base pattern, often explosive. 

New Ideas:

SFM- 8 week corrective base with move up late in week. Sprout Farmers Market for Organic Food movement etc.

BJ- BJ’s in a 5 week base near highs. Looks poised to break out

NARI- 6 week Post IPO base, returning to  list. Recent IPO of Venous disease solutions (Biotech)

DT- 2 weeks tight base near highs, once again on list. Security solutions provider for enterprises

FTNT- 8 week overall base for threat management systems provider

CHGG- Returning to list again, 8 week overall base, almost broke out to all time highs last week. E Book, Text Book etc College play

PLMR- Returning to list again, 5 week overall base near highs for Specialty Insurer

NBIX- 6 week base near 52 week highs for this Bio Pharmaceutical play

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This service focuses on the SP 500 using  my Wave based market behavioral models and then translates that to Futures Trading advice and alerts. Short term and long term views…morning updates, trades and more.

Contact Dave with any questions (