02 Nov Weekly State of the Markets and Swing Trading Ideas Report
SWING TRADING OF 3X ETF’S , STOCKS, E MINI SP 500 FUTURES, AND MOMENTUM GROWTH STOCK RESEARCH SERVICES VIA SUBSCRIPTION
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SWING TRADING OF 3X ETF’S , STOCKS, E MINI SP 500 FUTURES, AND GROWTH STOCK RESEARCH SERVICES VIA SUBSCRIPTION
Weekly Stock Market and Trading Strategies Report Week of November 2nd
” I haven’t sent you an email for a long time and now I grab the opportunity to thank you once again for extraordinary services you are offering, I really couldn’t ask for more! You are doing a fantastic job and there are no words for your professionalism, consistency and accuracy, not to mention how easy you make trading seem…we all know how difficult it is actually! Btw I have been a member of your 3xETF service for almost six months and I am really happy with that too… I don’t want to be without your service , not even for one day… Again thanks a million and my best wishes to you and your family!”
– Bill L. SRP/3x ETF member 10/30/2020
- CNN Fear Gauge at 30 (Highest Greed reading would be 100)
- 3200 area key support for SP 500 (40 week EMA, 200 day EMA) Chart
- COVID case rise hits markets last week, lack of Stimulus Bill, Election jitters, End of October selling
- Put to Call ratio at highest levels since June (Chart)
Stock ,ETF , and SP 500 Futures Swing Trading plus Growth Stock Investing options for members
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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- Took Gains in ETON of 7-10%, Added one new alert late in week on a SPAC play
- 3x ETF- Still long LABU with a stop in place, looking at TQQQ if hits oversold levels
- ES Futures- 3200 area key to hold
- TPS- Oversold levels setting up for strong reversals
General Market Summary: Updated Banister Market and Elliott Wave Views on SP 500
SP 500 and Market Commentary
Mercury Retrograde started October 13th and I warned that would cause more volatility and disruption. I have also gone over the Pre-Election jitters being an issue, and also October Fiscal year end related selling that happens every year for Mutual Funds. Add to that the COVID scare and its not the best time for predictions or behavioral patterns to play out as planned.
With that said, we have the Put to Call ratio at .77 on the weekly views, the highest Bear reading since June. Also the CNN Fear gauge is at 30 (Low number is high fear) the lowest reading since the post Corona lows, but could still move lower.
Also the Election is obviously on November 3rd which coincides with Mercury switching from Retrograde to Direct
So we could get a washout early this week and then perhaps some of the uncertainty starts to lift and we can see investors calm down some. Perhaps the largest wild card being the Corona Virus and if we get back into partial lock downs again and to what extent.
Seasonality favors investors typically from November into May following a rough August-October window most years.
SP 500 shows 40 week EMA Line as key near 3200
Charts: SP 500 weekly, Weekly Put to Call Ratio, CNN Fear Gauge
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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.
Ideas: Some repeated if still looking bullish and others newly added
GO- 4 weeks tight base, right side of a cup and handle pattern. 347 grocery discount outlets
GRBK- 14 weeks overal cup base near tryingt to move to 52 week highs breakout, testing 10 week EMA line. Land and Home building business
ETSY- 4 week corrective pattern not far off 52 week highs, provides buying and selling of handmade goods online
LOGI- 2 weeks tight near 52 week highs. Maker of peripherals for computers, gaming, and other devices
TER- 4 week base near 52 week highs. Integrated Circuit testing systems and more
GHLD-Recent IPO, 2 weeks tight close near highs, Relationship based mortgage services etc
ASO- Recent IPO 5 weeks ago, consolidating. Operates 259 sporting good stores.
CRSR- 2 weeks tight near highs, recent IPO in the Gaming/Periphery sector, 5 weeks trading so far.
PK- 5 weeks tight base near 52 week highs. Medical equipment/testing manufacturer
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