22 Nov Weekly State of the Markets and Swing Trading Ideas Report
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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 23rd
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- SP 500 consolidates gains, possible large move out of range on Monday (Chart)
- Biotech continues to look bullish in a nice consolidation pattern (Chart)
- Gold still weak, in 15 week corrective pattern with downtrend
- Small Caps also in nice consolidation last two weeks (Chart)
- 3x ETF Service closes out TQQQ and LABU for nice gains earlier in week, now watching temporarily
- SRP takes nice gains in CVAC of 28% on final 1/2 after 16% on Front Half (Vaccine play)
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- 28% gains on final 1/2 of CVAC taken, 11-15% on TFFP, two new alerts added
- 3x ETF- Closed out LABU and TQQQ for nice gains of 11-14%
- ES Futures- Guidance for dip to low 3500’s early in week, still looks bullish, daily updates
- TPS- TBIO moving sharply to the upside amid Covid Vaccine developments with partner
General Market Summary: Updated Banister Market and Elliott Wave Views on SP 500
SP 500 and Market Commentary
The markets spent the week consolidating in a range with OPEX on Friday slowing down the rally early in the week. Continuing to look for 3800-4000 on SP 500 intermediately and potentially a sharp move early this week to the upside if the 3540 area holds. If not ,then we could correct further this coming week. However, traditionally Thanksgiving week is favorable for Bulls but only 3.5 days of trading so it will be lighter volume.
Biotech continues to look likely to lead again in 2021 if I’m right, we took some gains in the 3x ETF service on LABU this past week but the set up still looks bullish (XBI Chart)
Small caps also look bullish with the IWM in a leadership role since the October lows and in a two week consolidation. We may be seeing rotation out of large cap and into smaller names after money flowed into larger cap tech most of this year post Covid-19 bottom in March.
Gold continues to lag in a 15 week corrective pattern.
Charts this week XBI ETF, SP500 Daily and Weekly, IWM ETF
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In addition to being a member of various services, you can follow my comments during the week:
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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.
PCRX and YETI among winners off last weeks list, several return this week as still setting up or looking attractive. ETSY makes another return as well.
Ideas: Some repeated if still looking bullish and others newly added
ETSY- 7 week corrective consolidation base near highs for online service for buying and selling goods from individuals
LOGI-5 week corrective base not far off highs and testing 10 week line for peripherals maker
GNRC- 7 week flat base near all time highs for maker of standy power generators and components
VIPS- 5 week ascending base near 52 week highs for chinese online discount fashion service
BLDR- 3 weeks tight pattern near highs for building products maker
PKI- 4 week consolidation testing 10 week EMA Line this past week on pullback. Instruments maker, high demand.
APPS- 3 weeks tight within 6 week overall base/correction pattern. Volatile stock , Digital Apps publisher.
HOLX- 17 week overall base, 7 week recent consolidation, moving up right side for breakout. Develops imaging and diagnostic systems for women, testing 10 week EMA line last week.
MNST- 3 weeks tight base near 52 week highs for alternative beverage maker
TPX- 3 weeks tight base near highs for mattress maker
BRP- 12 week overall base and 3 weeks tight near 52 week highs breakout, pushed up this past week off our list, but still attractive. Insurance products broker to 450,000 clients
PINS- 4 weeks tight near 52 week highs for online Pinterest, now expanding in to E Commerce aggressively
ESTC- 14 week flat base near highs for this search technology firm
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