11 Oct Weekly State of the Markets and Swing Trading Ideas Report
TheMarketAnalysts.Com
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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 October 5th
“Dave: Since April 14th: I’ve closed 58 trades that I’ve done in SRP and 3xETF; 41 positive; 11 negative; 6 even. That’s 70.7% positive; 19% negative and 10.3% even. Anyone that doesn’t believe your accuracy you can send them my numbers. Once again, thanks for your teaching, your consistency, your patience and, overall, for what you do. “The presence of knowledge, without the intent of sharing, is the greatest of vanities.” Now where did I first hear that quote?”
G. Harris- 10/4/20
Notes:
- Continuing upside in Wave 5 of 3 for the SP 500 and markets
- Small caps leading as projected last week that we would see a breakout to the upside
- Biotech also moving strongly as projected
- Market seems to be confirming Biden victory, pro-china, and no post election issues, more certainty
- Another strong week at SRP and 3x ETF services, TPS Long Term Service adding to long positions
Recent results:
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- Big move up in SCPL early in week we sell 1/2 for 8-9% gains, Issued 2 new alerts and also strong move up in SAIL position closed for 20% gains recently
- 3x ETF- LABU gains taken on final 1/2 for 19%, up nicely on TQQQ as of Friday close
- ES Futures- Small 8 point trade loss, guidance updated daily for market upside correct
- TPS- TFFP hits all time highs again, new positions moving in our favor
General Market Summary: Updated Banister Market and Elliott Wave Views on SP 500
SP 500 and Market Commentary
Although I can come up with two pretty valid long term Elliott Wave counts for the SP 500, they are both bullish so the degree is not so important as price and direction right now. I had a 3800 SP 500 target awhile back for a longer term view and right now with the latest movements I’m at 3700 as my LOW END target for this move up and 4000 on the higher end.
With the Elections looking more and more likely to swing the Biden direction, the market may appreciate the likelihood of a stimulus package down the road, lack of post election uncertainty, and a return to Pro- China/Globlalization perhaps. I present that information with out political bias but as I said a few weeks ago that 3200 area low may have also been pricing in a Biden victory in terms of higher taxes etc… I guess we will find out soon enough.
Small caps led the charge as I noted was likely last week given the convergence of two very bullish Banister Behavioral base patterns. Biotech also broke to the upside and we pocketed 19% gains on the 3x ETF LABU in that service as we rode that train higher. (Likely continues higher).
Swing Trading remains the game for sure, and we also see QQQ moving up and we are riding that via the TQQQ in the 3x ETF service as well. GOLD Stocks returning to my swing trade list first time in several weeks.
This weeks chart is the SPX daily using my likely controversial count.
Currently in Wave 5 of 3 (III) up to all time highs and even if this count is off, the 2nd count is also bullish as well…
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.
Recent research includes TFFP at $5.83 several weeks ago, now up over 200% at $18.30 area as of 10/11/20 on their Thin Film Freezing technology for the delivery of drugs/vaccines. Recent new position INMB is worth investing in at these levels as well.
Email me for a 25% coupon at dave@themarketanalysts.com to try it out.
Read up at Tippingpointstocks.com
In addition to being a member of various services, 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 week big winners ESTC, EBS, and HZNP all broke big to the upside, HZNP an SRP alert
Ideas: Some repeated if still looking bullish and others newly added
New This week: (KL, DT, VIVO, ASO, IRBT, PVB, EGO)
AMD- 9 week overall corrective base for Chip maker, just above 10 week line, looks bullish
IIPR- 10 weeks tight base near highs, Real Estate REIT mostly for Cannabis growing properties, 2nd week in row on list
SCPL- 19 week overall base, started moving up again last week. Digital Game publisher broke to the upside out of the base early in week, we took some gains at SRP then it pulled back into nice buy ranges again late in week.
DHI- 8 week base breakout for Home Builder, but still not too late to buy
KL – 11 week overall base, returning to the swing list for this Gold producer and Explorer
DT- 16 week overall base for this Post IPO security play
VIVO- 5 week ascending base for this Diagnostic Test maker
ASO- 2 Week short term uptrend for this recent IPO play sports/rec retail chain in the South
BRP- 6 week corrective base, testing 10 week EMA line not far off highs. Brokers insurance products
IRBT- 17 week flat base near highs for robotic household products maker
EGO- 10 week base for Gold producer
PVB- 10 week base for Gold producer
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