27 Dec 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 December 28th
“Dear Dave, I just want to take the opportunity before I get wrapped up in Christmas week to thank you for your commentary and guidance this year, through my membership of SRP, ETFx 3 and E minis.
I find your market guidance incredibly helpful in my trading and your stock picks excellent. In fact your prediction of the market this year has been nothing short of extraordinary.”
Thank you and Happy Christmas- John N. 12/17/20
Notes on indicators and charts:
- Still seeing 3740 resistance short term on SP 500, 3996 intermediate still a target (See Chart)
- Markets consolidating, SP 500 in 3 week base pattern (See Chart)
- Biotech also extended, XBI could push a bit higher with 145 key support (See Chart)
- 3x ETF service shorted oil and closed it out for quick 6-7% Gains on 2x ETF SCO last week
- Bitcoin chart says 34,350 possible target on this epic move up (26,000 area now, See Chart)
- Gold consolidating but overshadowed by Bitcoin?
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- Two new alerts, nice gains taken on 1/2 VBIV, others moving up/consolidating
- 3x ETF- SCO Oil short scalps for 6-7% gain last week, current Biotech position open
- ES Futures- Guidance for 3740 on futures laid out and still moving in that direction
- TPS- Latest stock is up 29% in first 10 days since report, could be multi bagger in 2021
General Market Summary: Updated Banister Market and Elliott Wave Views on SP 500
SP 500 and Market Commentary
The NASDAQ 100 has outperformed the widely watched SP500 Index in 9 of the last 10 years
NASDAQ 100 has only had one down year from 2011-2020, and that was – 0.1% loss (1/10 of 1%) in 2018
Biotech continues to be the ETF leader for 2020 with a 45% gain YTD, likely continues in 2021 with new waves of AI, DNA, Gene Editing technologies leading the charge. Tipping Point stocks is weighted 70% in Biotech with our current positions.
SP 500 needs to get past 3740 or we have some issues as we head into January. Possible tax selling takes over at some point post 2020 Calendar year and we have a pullback. 3996 still on table as possible though for Major Wave 5, watching 3625 area loosely as key SP 500 support
Gold may be taking a backseat to Bitcoin, I have a chart this weekend showing possible case for 34,350 upside from 26,000 area currently
Stock picking remains quite fruitful in current environment with low interest rates, high liquidity, and more market participants and less listed stocks than we have seen in many years (Even with the IPO’s etc). Takeovers continue.
Working on 2021 projections, but loosely seeing SP 500 possibly hitting 5000 in 2021 after the initial Wave 2 correction
Charts this week , SP 500 Daily, XBI ETF (Biotech), Bitcoin, SP weekly repeated from 12/18
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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: 15 ideas with a combination of strong fundamentals and attractive behavioral pattern charts combined
Repeated Ideas from 12/18 Report:
CROCS- 5 weeks tight near highs, maker of mens, womens, childrens funky footwear
AMD- Often on the list, 4 week ascending base at 52 week highs. Chip maker is a leader.
LOGI- Also on list often of late, 10 week overall base, 2 weeks tight, but looks like a breakout ahead for peripherals maker
HOLX- 4 week base near highs, on the list again. Imaging systems and diagnostics maker for women’s health
DT- 2 weeks tight near highs, a long flat multi month base could finally break out for software intelligence platform maker
VIPS- 5 weeks of super tight closes near highs for Chinese online discount retailer, now an SRP position
RGEN- 8 week nice consolidation near highs for bioprocessing products specialist for life science customers
LOVE- Lovesac near 5 month breakout, manufacturer of innovative furniture, modulars etc
WSM- 6 weeks tight pattern near highs for home furnishings and goods retailer
TPX- 2 weeks tight pattern near highs for maker of custom mattresses
PINS- Returning to list, we made nice gains at SRP recently. 3 weeks tight base near highs for Pinterest
UPST- Recent IPO, not much trading history but 2 weeks tight closing pattern. Cloud Based A.I. Lending platform
PFSI- 13 week base curling up on right side. Mortgage servicer looks poised to break out
ALKS- 3 weeks tight closings near highs. Develops therapies based on proprietary drug delivery technology
HALO- 8 week ascending base at highs or close. Develops human enzymes for various Biotech end markets
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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.