16 Aug Weekly State of the Markets and Swing Trading Ideas Report
TheMarketAnalysts.Com
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Weekly Stock Market and Trading Strategies Report Week of August 17th
“Your calls are very good! Nice work! You are calm, collected and cool in this Volatile Market. I appreciate your excellent work…just evaluate, execute and leave each day behind for tomorrow’s action; which is extremely difficult to do! I am learning…under your clear and simple instructions.(I have a hard time trusting when money is concerned! LOL!!)Thank you!!” 7/9/20 -@sproutup1 on Stocktwits (3x ETF service)
Notes:
- SP 500 fills gap from February crash beginning see chart
- 3450 still possible on SP 500 with 3800 by year end possible
- Wave 2 correction will be ahead after wave 1 top confirmed
- Biotech pulls back after Russian Vaccine news
- Money starting to rotate to other sectors like Financials, Utilities, Energy etc
- GOLD Chart update
- Chip Stocks strong SOX ETF chart update
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- Issued 3 new buy alerts for swing trades, one up big on Friday
- 3x ETF- Closed TNA ETF for 18% final gains, holding SOXL with upside intract, loss on LABU taken
- ES Futures- Break even trade and small loss trade in range this past week
- TPS- TFFP continued to surge to highs, up 100% plus for TPS members.
Swing Trading and Momentum Stock Services:
Stock Swing Trading, 3x ETF Bull and Bear Swing Trading, E MINI/Micro-MINI Futures Trading, Momentum Growth Stock investing
Flagship SRP Stock Swing Trading and Market Forecast Service: Track Record is online, 10 years since August 2009 inception, 70% profit rate trading stocks based on fundamental and behavioral patterns both. Morning Pre Market reports, Buy and Sell alerts, follow on advice daily on all positions, SP 500 Banister Wave models daily. Monthly, Quarterly, Annual options.
3x ETF Service on Stocktwits.com : $40 a month, Track Record is online. Pull more money from the market bull or bear with my Behavioral based and contrarian approach to 3x ETF trading! 80% success rate since inception! We solely trade 3x ETF Bull and Bear pairs as the market dictates. Read up at The3xetftrader.com Use the Subscribe tab to join off your desktop on Stocktwits
Stocktwits SP 500 Futures Service: $50 a month, Join the Trading Room and Follow my SP 500 guidance, Charts, and trade yourself with my alerts and guidance Tax Favorable trading. See details here: Stocktwits.com
Auto-Trade ES Futures service– ESAlerts.com $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.
Tipping Point Stocks– A long term momentum growth stock service looking for 50-200% gains. Recent sample TFFP hitting all time highs up over 100%! Join and add momo growth stock plays to your swing trading! Use Coupon SAVE25 to save 25%.
General Market Summary: Updated Banister Market and Elliott Wave Views on SP 500
SP 500 and Market Commentary
August 2nd commentary repeated: (No report last weekend)
Possible double bottom in the 3200 area last week on SP 500, we are in a 13 day trading base and usually that preceeds a large move out of the range. I believe that will be to the upside, but we will find out early this week. Short term 3330 on the radar as I’ve been noting and 3450 intermediately with 3800 possible by year end, of course subject to change.
Turned out correct as we moved higher and in fact hitting the 3380’s this past week. There was no Sunday report on August 9th due to my summer vacation schedule.
We are now done filling the “Gap down” on the upside this time, from the February 2020 highs as we moved back up in a V recovery of sorts off the March 23rd bottom. My interim target since July 15th has been 3450 area, and I am still looking at 3800 on the radar for the 4th quarter 2020. With that said, I suspect the August-October window will be exciting especially with the Presidential Election cycle at hand.
The broader market is expanding in participation with Energy, Utilities, and Financials for example moving up. This may alter some of our go forward 3x ETF trading service work as well. We have heretofore been focused on Tech, Biotech, Small Caps, and Gold here and there. In addition, Chip stocks remain strong and basing last few weeks, another area we are long now in the 3x ETF service. See SOX Weekly chart
SP 500 updated Daily and Weekly chart views:
Chip Stocks: SOX ETF
Gold Update:
Negative interest rates or trend towards lower rates obviously bullish for Gold. Pullback recently was overdue from a parabolic daily chart move up. However, the weekly chart shows the pullback to the 10 week EMA line, which is normal:
Consider joining for powerful upside potential in a portfolio of 7-12 names that is dynamic and moving. We closed out several for 60% plus gains lately to make room for new positions. Among them VIR, PRVB, OTRK naming a few big winners for members.
Most recent research was TFFP at $6 several weeks ago, now up over 100% as of Friday morning this past week on yet more great news on their Thin Film Freezing technology for the delivery of drugs/vaccines. Email me for a 25% coupon at dave@themarketanalysts.com to try it out.
Read up at Tippingpointstocks.com
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.
New Ideas:
CHGG- Pulled back 11% this past week from 52 week highs, a test of 74 normal. Now 77 and likely to work higher as we approach new school year with Covid issues.
TER- 7 week base for this IC chip tester covering multiple industries
AMAT- 11 week base for Chip Equipment leader, was on list two weeks ago and broke out, but still attractive
KL- Gold exploration leader, did rip higher but pulling back towards 10 week EMA line as Gold corrects
GO- On our list often of late. Grocery Store outlet chain in 7 week post IPO base. Pullback last week ahead of earnings due this week.
TENB- 3 weeks tight pattern near highs. Cyber security solutions provider
KLAC- 6 week base breakout last week, but has not yet run away. Chip Equipment/testing company
UCTT- 3 week pullback bullish flag base. Gas Delivery/Chemical Planariation provider in Chip Equipment sector
NVMI- 2 weeks tight base near highs. Also chip equipment play
EBAY- 6 week corrective base testing 10 week line
Read up on my various offerings to take advantage of Bull and Bear cycles in the markets below
Read up on my various offerings to take advantage of Bull and Bear cycles at TheMarketanalysts.com
Swing Trading and Momentum Stock Services:
Stock Swing Trading, 3x ETF Bull and Bear Swing Trading, E MINI/Micro-MINI Futures Trading, Momentum Growth Stock investing
Flagship SRP Stock Swing Trading and Market Forecast Service: Track Record is online, 10 years since August 2009 inception, 70% profit rate trading stocks based on fundamental and behavioral patterns both. Morning Pre Market reports, Buy and Sell alerts, follow on advice daily on all positions, SP 500 Banister Wave models daily. Monthly, Quarterly, Annual options.
3x ETF Service on Stocktwits.com : $40 a month, Track Record is online. Pull more money from the market bull or bear with my Behavioral based and contrarian approach to 3x ETF trading! 80% success rate since inception! We solely trade 3x ETF Bull and Bear pairs as the market dictates. Read up at The3xetftrader.com Use the Subscribe tab to join off your desktop on Stocktwits
Stocktwits SP 500 Futures Service: $50 a month, Join the Trading Room and Follow my SP 500 guidance, Charts, and trade yourself with my alerts and guidance Tax Favorable trading. See details here: Stocktwits.com
Auto-Trade ES Futures service– ESAlerts.com $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.
Tipping Point Stocks– A long term momentum growth stock service looking for 50-200% gains. Recent sample OTRK hitting all time highs and up 140%! Join and add momo growth stock plays to your swing trading! Use Coupon SAVE25 to save 25%.
Contact Dave with any questions (Dave@themarketanalysts.com)