15 Feb 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 February 15th 2021
“I’ve mentioned it before, but it’s worth mentioning again. I’ve been a subscriber in three of Dave’s services – SRP, TPS and 3xETF for about a year now. Because I feel so highly in regards to Dave’s services and the performance I’ve experienced; my daughter, my brother and another friend have become subscribers to at least one of his services. I’m working on a couple other people as well😉 Dave thanks so much for all you do!” – 1/7/21- @JTD26 on Stocktwits
Notes on indicators and charts:
- SP 500 trying to get through 3940 resistance, then 3996 target is on way (Chart)
- Bitcoin in Wave 5 up, 65,000 is my LOW END target still (48,000 area now, Chart)
- Look for some volatility to pick up in in latter February into March likely
- 3x ETF trader service punched out of SOXL For nice gains last week in Stocktwits service
- Maintain overall long exposure, but stock picking now going to be more key and consider a little profit taking
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:
- SRP Closed out ENLV final 1/2 for 60% gains in days! Profits taken on ZNGA of 8%
- 3x ETF- Closed out SOXL for nice gains from 560 average out at 640
- ES Futures- Looking again for 3996, advised to go long early in week
- TPS- Fintech Play reported research on Monday, up 60% already
General Market Summary: Updated Banister Market and Elliott Wave Views on SP 500
SP 500 and General Market Commentary
From 2/8 Weekly Report Notes last week:
“Now with the rebound, the odds remain for 3996 target to be met and again I will be watching for any clues of a reversal of trend. I think we can bounce a few more weeks before possibly a late February/March pullback of sorts.”
Same notes this week, 3996 is still possible if not higher this week. The target was put out as a 5th wave up high from the March 2020 lows back in latter October. We almost broke the uptrend two weeks ago but managed to rebound off the ABC Zig Zag correction as discussed a week or so ago. See my updated SP 500 Daily chart
Of note, Bitcoin we are long the MARA stock (Bitcoin Miner) in the Tipping Point Stocks growth stock service from 18-23 ranges, now 39. I told members of TPS that was the defacto way to play Bitcoin going forward for gains and so far that is playing out. I have a Bitcoin chart updated this week as well with a $65,000 LOW END Wave 5 target on the intermediate outlook.
Look for Lithium, Electric Vehicle , Battery etc sectors to remain strong with all dips bought going forward. We also have a Lithium exploration play out at Tipping Point stocks which is up about 45% in two weeks since the writeup.
Charts This week: SP 500 Daily and Bitcoin Weekly
Bitcoin Weekly: (MARA our play at tippingpointstocks.com)
Chart from Dec 27th Report repeated for reference: This was my projection back in late Oct 2020
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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.
CHGG, CROC, and PCRX all up nicely last week
Ideas with a combination of strong fundamentals and attractive behavioral pattern charts combined
HZO- 5 week tight near highs, 3rd week in a row on the list, near a 5 month overall breakout. 77 Retail stores in 21 states selling new and used boats, pleasure and fishing etc. 3rd week in a row on the list.
XPEL- 8 week ascending bullish base at or near 52 week highs, 3rd week in a row on list. Manufactures and distributes after market automotive products in U.S, Canada, U.K and Netherlands. A bit extended so tight stop if you play. 3rd week in a row on base.
HOLX- 11 week base, broke out 5 weeks ago but pulled back a bit. Develops imaging systems and diagnostic and surgical products focused on the healthcare needs of women.
STEP- 8 Week Post IPO base bouncing off 10 week line. Provides investment solutions and advisory data services to the most sophisticated investors worldwide
PINS- Breakout of 3 month flat base two weeks ago, 3rd week in a row on list. (Pinterest)
CRNC- 5 week ascending base near highs Immersive Automotive software for high tech car needs
INMD- Back on the list, SRP made gains on this not long ago. 2 weeks tight base with an ascending breakout for this radio frequency device maker for non invasive medical procedures
VIVO- 2 week ascending base near 52 week breakout and multi month base. Develops diagnostic test for various diseases
SMG- 6 week ascending base near highs for Scotts Miracle Gro- Weed Business is booming for fertilizer etc
HOLX- 3 weeks tight base near highs for Imaging systems and Diagnostics maker for women
TIXT- 2 week Post IPO base. Designs, builds, and delivers next generation communications solutions
MU- 6 week base near highs for Micron, Flash Memory king
BEKE- 19 week overall base, Chinese provider of online and offline housing transaction services
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