26 Jul Weekly State of the Markets and Swing Trading Ideas Report
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Weekly Stock Market and Trading Strategies Report Week of July 27th
“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 and markets cool off at end of week, see notes
- Biotech hits my XBI 121 target laid out 3 weeks ago on the nose and pulls back, likely opportunity to buy
- Housing stocks are hot along with Solar installation
- E Car stocks pull back after hot run, may set up some entries
- Advisors still very bullish, contrarian top signal?
- Tipping Point Stocks service is firing on all cylinders, see notes in sentiment section
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- Took gains in VUZI and CHGG, issued two new alerts later in week
- 3x ETF- Took 8% gains in SPXL ETF, setting up new Biotech position on pullback
- ES Futures- 45 point win early in week, then a 15 point loss late in week, net of 30 points profit
- TPS- OTRK surges to all time highs, TPS Members up 120% in 11 months.
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 120%! 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
Had some weakness late in the week due to the ending of the Unemployment $600 weekly benefit at end of July, concerns over stimulus bill in Congress, and some trade tensions with China etc. Also a bevy of earnings reports to digest and the market gave back some of the gains. Housing and Retail relatively strong though as well, and Biotech hit my XBI 121 target this past week on the nose, then promtply pulled back.
As stated last week 3170 area short term support with that 3235 area a little stubborn on the upside. Should things get more corrective heading into August, watch that 3100 area on SP 500 as key support.
I also mentioned last week we are approaching the rough August-October window which can be volatile. Often traders will hit the beach in August and come back after Labor day, adding to the volatility. September is often rough because it’s the end of the Fiscal year for tax purposes for Mutual Funds and we get alot of window dressing, selling, buying all in the same month. October starts the 4th quarter and follows the September machinations so can also be quite volatile but often also puts in bottoms as well for the window.
Bottom Line? Expect choppiness next 3 months but my bias remains to the upside in general with a 3450 SP 500 target and possibly as high as 3800 by year end, and of course, one week at a time. Anything can transpire to throw those numbers off with Covid-19 etc… still a stock pickers market if you will, and may be come more so next 90 days or so as opposed to a rising tide lifting all boats market.
SP 500 updated Chart: Weekly view shows 3100 lower end support 3450 possible target
Other Trading and Sentiment Notes from Dave: Tipping Point Stocks… buying just before the crowd comes in and ahead of catalysts…
Bulls still running hot in Investment Advisor surveys at 57% vs just over 17% for Bears. This is a historically high ratio and gives some pause. We have had an 8 week overall base in the SP 500 though, but obviously hot money has been in Tech and Biotech. These sectors may need to cool off some ahead of the 4th quarter window. We may see some sector rotation if not already starting.
Tipping Points: My Tipping Point Stocks service is having a great year. Recently we took 60% gains in DYAI, sold 1/2 of another Biotech position for 60% gains, and 1/2 of yet another Biotech position for 60% gains. A recent Chip Stock I wrote up several weeks ago, that could triple near term, and we are up over 50% in 8 weeks. OTRK is up from our $16 entry in 2019 to $36 a share as of last weeks close hitting all time highs.
Consider joining for powerful upside potential in a portfolio of 7-12 names that is dynamic and moving.
Most recent research was VIR, an emerging Biotech behomoth at $30 post IPO now trading at $48 just 8 weeks later, up 60%. We are about to release a few new reports near term as well.
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)
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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.
AMD the huge winner last week up 26% off this list due to Intel issues.
Repeated from Last week: (Consolidating or did not yet break out)
SFM- 12 week base near highs- Sprout Farmers Market, play on organic foods etc. 2nd week in row on list.
CHGG- 4 week base near highs- Online education tools provider, we took final profits near 76-77 at SRP but on this pullback to 73 area still looks attractive. We entered 68-69 prior.
DT- 6 Week base base near highs, 6th week in a row on list. Security solutions provider for enterprises, current SRP open position. Would like to see 39 hold on a closing basis.
NBIX- 7 weeks tight base near highs, 3rd week on list for this Biopharmaceutical.
GO- 4 weeks tight base near highs, 12 month Post IPO right side base possible breakout soon. Discount Stores growing rapidly. 3rd week in a row on list.
NARI- Post IPO near highs – Recent IPO in Venous Disease area, 3rd week in row on list. SRP position.
VIRT- 21 week base, providers quotations for buying and selling of securities, close to breakout
IPHI- 12 week base near highs , Servers and Routers infrastructure provider, 2nd week in row on list
DRD- 5 weeks tight base near highs. Gold producer in Africa. 2nd week in row on list
JAMF- New IPO, provides software for enterprises to remotely manage Apple Devices
SCPL- 10 week tight base near highs, develops digital games for mobile and web platforms
DDOG- 6 week corrective base near highs, we profiled this in the 40’s, now 84 but still attractive as cloud security SAAS business. Would put stop at 84 near close (*84.88 now)
XP- 6 week base for Brazilian financial services firm near highs
AUDC- Broke out of 9 week base last week, VOIP play from Israel
PFSI- 6 week base near 52 week breakout, servicing and production of mortgage loans
FORM- 3 week corrective base pullback from near breakout. Wafer Card manufacturer in Chip sector
Read up on my various offerings to take advantage of Bull and Bear cycles in the markets below
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StockReversalsPremium.com– Swing Trading with SMS text, Email, and Post on each alert, morning pre market reports daily on the SP 500 forecasts, position updates, and strategy notes. 70% success rate in 6 years of advisory services! Track Record of 2019 and 2020 Trades
Tippingpointstocks.com– Growth Stocks with 50-200% upside with our proprietary research! OTRK recent big winner! Fresh ideas every month.
ESAlerts.com- Auto Trading of Micro MINI contracts, $1,500 roughly per position size. $5 move for each 1 point SP 500 move. Trades executed on your behalf based on our Advisory automatically. For those too busy to follow alerts and trade on their own. TRACK RECORD ONLINE
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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.