13 Sep 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 September 14th
“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)
- SP 500 wave 4 continues, 3295 key pivot level to watch
- Biotech (XBI ETF) in 8 week correction, testing 34 week EMA line, needs to rally up soon
- GDX ETF charted, looks poised to break out if we get a move up in Gold
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- New positions added late in week after being patient during correction
- 3x ETF- Still long two positions coming into this week in base patterns
- ES Futures- Got washed out of a long trade for a loss
- TPS- TFFP (Up 135%) still looking very strong, INMB could be next stock to move
General Market Summary: Updated Banister Market and Elliott Wave Views on SP 500
SP 500 and Market Commentary
Last weeks comment:
“After a powerful “3rd of a 3rd” the next 4th wave correction will often be harsh and quick in terms of price action. This is what we saw with a near 7% drop from top to bottom in 2 trading days and a bounce on Friday off the 3349 lows. We could revisit those lows again for a re-test or possible have slightly deeper drop to 3265-3300 area as well. “
Updated Notes: We held 3300 area so far
SP 500 needs to hold this 3300 area loosely to be termed a normal correction for a Wave 4 label I have put on this chart this weekend. With the Election around the corner, end of September quarter end and October Fiscal Year end after that it should be volatile in a range. Ultimately the idea is the 5th wave shows up and takes us to 3800 plus all time highs, but one would expect some heavy sledding to get there. See my updated daily and weekly SP 500 charts.
SP 500 updated Daily and Weekly chart views:
Gold Update: 2300 intermediate target after consolidation GDX ETF chart noted here
GDX in 8 week bullish base (NUGT could be a play here)
Biotech: Needs to hold 100 area, in 8 week corrective base testing 34 week EMA
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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: Several Gold stocks look bullish…
KL- 7 week base testing 10 week line, Gold producer
MRVL- 10 week base just above 10 week line. Chip play
DOYU- 6 week overall base near highs, New SRP Re-entry position after pullback, looks bullish still. Chinese online gaming
APPS- 6 week overall base, pulling back now to test 10 week line (Mobile software apps etc)
TENB- 4 week corrective pattern, pulling back off highs, on our list recently. Cyber Security Platform
VIRT- 2 weeks tight base near highs, we took profits at SRP but this looks very strong still
GRBK- Near highs, 6 week tight flat base, Land Developer and Home builder
SBSW- 7 Weeks tight base near highs, Gold producer
PVG- 6 weeks tight base near highs, Gold producer
FVRR- 6 weeks tight base near highs, outsourced digital workers
IIPR- 6 weeks tight base near highs, Real Estate REIT mostly for Cannabis growing properties
GOLD- 8 week base near highs, Barrick Gold
SAIL- 6 week base, test of 10 week line, Identity Software
RKT- Post IPO pullback after a surge up for Rocket Mortgage
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