30 Jan Weekly State of the Markets, Crypto and Swing Trading Ideas Report
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SWING TRADING OF 3X ETF’S , STOCKS, E MINI SP 500 FUTURES, CRYPTO AND GROWTH STOCK RESEARCH SERVICES VIA SUBSCRIPTION
Weekly Stock Market Forecasts, Charts, Crypto and Trading Strategies Report Week of Jan 31st, 2022
“By the way I want to thank you once again for the amazing service you are offering…Have been a member of SRP for more than 4 years and I really have no words…only huge respect and gratitude…my account keeps growing steadily and consistently…it’s really a blessing for me and my family…The 3xETF service is a huge additional value to my portfolio and I plan to join more of your services very soon…” Bill L. 1/3/22
“Hi Dave,It’s been quite a while since I’ve checked in. I hope all’s well with you. Couple weeks ago I re-upped for my 2nd year in SRP. Just wanted to say thanks for all the excellent trade alerts over the past year. I’m really enjoying your service as a valuable component of my overall market approach. I’ve also noticed that you don’t go crazy with new alerts when the market/sentiment is iffy, which is impressive. Great job (not that you need me to tell you that!)” – Matt S.- SRP member, 9/21/21
“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
Market Notes and this weeks charts: SP 500, IWM, QQQ, Ethereum and Bitcoin
- Market Internals are very poor (see below)
- NYSE (n) – 12 New Highs, 278 Lows
NASDAQ – 19 New Highs, 716 Lows
AMEX (a) – 0 New Highs, 31 Lows
- Inflation plays en vogue, Oil and Gas, Natural Resources, Materials, Timber, and Financials to an extent
- SP 500 and markets may have put in an A Wave low this past week, ES Futures 5 wave low truncated 5th
- B wave of SP 500 must take out 4440 area to confirm, then we MAY see 3800-4200 later on but one day at a time
- Have to go slow in this market environment, but may see some nice reversal trades near term off washout lows
- 3x ETF service long TQQQ (3x Bull QQQ) at 52, closed up 12% on Friday
- SRP actually turned a profit on Oil and Gas play FANG this past week of 8-9%, have been high in cash
- Futures service hit for gains as well, and stayed out of the fray rest of the week
Stock ,ETF , and SP 500 Futures Swing Trading plus Growth Stock Investing options for members
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General Market Summary: Updated Banister Market and Elliott Wave Views on SP 500 and more
Market Notes and Commentary:
Obviously a strong downward correction Bear Cycle of late. QQQ ETF dropped 19%, in the last 3 major corrections QQQ dropped an average of 27% in 2015, 2018, and 2020 bear cycles. For me, a Bear market is defined as when the majority of stocks are in a downtrend. A Bear cycle could be 4 weeks, 4 months, 18 months but they can also happen within a larger Bull cycle as well. Did this Bull Cycle top at 4800 on SP 500? We do not know yet, but I can make a case for a counter B wave rally here to 4600 or close possible off the 4222 lows this past week. 4440 is key to take out for those looking for markers to watch
The 3x ETF service has also been going very slow because of the massive chop in the markets, but we did put on a 10% allocation position to TQQQ late last week and are up about 8% or so on that position from 52 average with the rip up on Friday. Consider joining at just $40 a month it diversifies you outside of single stock trading, but can also leverage downside moves as well.
Biotech still weak, IWM ETF still weak. Look for market bounce but watch 4440, then 4590’s as next pivots on SP 500. If we can’t take out 4440 with some strength, we can retest 4220’s for sure and 3800 is my LOWER END intermediate potential target should the market crap the bed again… interesting times.
During these highly volatile windows, I prefer to have very few alerts in any of the services until volatility slows down and I get a grip on the wave patterns. In the 2020 crash we were 90% in cash most of the entire time into the March 2020 bottom. Patience pays…
As far as the markets, right now obvious leaders are Financials, Oil and Gas, Materials, and Inflation related natural resource plays, and old school defensive stocks. That can also change on a dime, but with swing trading those are areas we will focus on for now. We hit FANG this past week for an 8-9% gain in a tough market.
Charts below: SP 500 QQQ ETF- Crucial window ahead
Tipping Point Stocks- Wealth building looking for multi-baggers before the crowd comes in, 9 stocks have more than doubled since June 2020. Getting involved in Decentralized Finance Web 3.0 boom now with Stable Coin Play and an ETF Issuer stock play in Europe and will add more soon as Bear cycle winds down in Bitcoin.
Recently three new research reports have been put out. One is a Crypto Equity play that is growing incredibly fast and underfollowed and was up 100% 4 weeks after the report recently. Another is an E Commerce play on a company that is rapidly changing a 100 year old business sector, and very recently in December a Crypto Token/Protocol for Stablecoins which are exploding.
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Read up at Tippingpointstocks.com
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Swing Trade Ideas with a combination of strong fundamentals and attractive behavioral pattern charts combined. List is updated every Sunday, names removed if they broke out to the upside strongly and or broke down. New names added, many names repeated if still in a bullish pattern. A lot of stocks will pull back harshly right before a big breakout reversal, so be advised
Updated List 1/30/22- Lots of Energy, Natural Resources, Banks, Defensive stocks etc. leading for now-Inflation Plays etc
HLI- Must hold 96 area but could be a nice double bottom entry here. Provides mergers and acquisitions, financing and restructuring services
EDR- 4 week pullback with market. If it holds 28 area looks good. Operates sports properties through live events experiences and represents entertainment talent and sports.
ZIM- Prior winner for SRP as well, this one has held up the best in this stock market meltdown, near highs. Israel-based asset-light container liner shipping co provides cargo solutions for all industries
MNRL- 13 week meandering base, but could be attractive entry. Engaged in the acquisition of mineral and royalty interests in oil and gas properties in the United States
CMC- Multi month flat base, but if it holds 32 area looks attractive. Manufactures steel/metal products/related materials/services for construction/manufacturing
SGH- Pullback may provide opportunity. If it holds 53 area its attractive. SRP already banked on this recently. Designs and manufactures specialty solutions for the computing, memory, and LED markets
REGN- 5 month triangle weekly base, low PE, strong growth. Develops drugs to treat eye diseases, infl ammatory diseases and cancer.
WFG- 3 month base, nice relative strength here, pulling back here may provide good entry. Canadian Co manufactures and distributes wood products for home construction with more than 60 facilities. Inflation play.
BCC- 5 week base near highs, also inflation play. Manufactures and distributes wood products and building materials
for residential/commercial construction.
BMY- 3 weeks tight base pattern looks bullish. Develops pharmaceuticals for the treatment of oncology, immunoscience, cardiovascular, and fibrotic diseases.
PSXP- 3 week bullish base near highs. Owns and operates oil and gas products pipelines and terminals in
the Gulf Coast and Central
GSL- Close to 3 month breakout to highs. Provides international tanker transportation services in the
containership sector with a fleet of 43 vessels
OAS- 4 week base near highs. Explores, produces oil and natural gas in the Williston basin in North
EOG- 3 week tight base near highs. Engaged in production/marketing of crude oil and natural gas in the
U.S., Canada, Trinidad, U.K. and China
MTDR- 3 weeks tight near highs. Engaged in oil and gas exploration and production in areas of Texas/
Read up on my various offerings to take advantage of Bull and Bear cycles in the markets below or at Themarketanalysts.com
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The3xETFtrader.com– Swing trading Bull or Bear 3x ETF securities only. Hosted on Stocktwits.com for just $40 per month. A great way to trade bull and bear reversals using my behavioral pattern analysis with a twist! Launched in late September 2019 and already establishing a strong track record of 80% profitable trades!
StockReversalsPremium.com– Stock 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 nearly 8 years of advisory services! Track Record of 2019, 2020, and 2021 YTD Trades
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E-Mini Future Trading Service ESALERTS.COM $50 a month on Stocktwits.com
SP 500 Futures Trading Advisory service. Hosted on Stocktwits.com… Great morning SP 500 Futures trading guidance and alerts! We keep you on the right side of the market direction and trades. Tax Favorable treatment, simple reporting to IRS, eligible for IRA and Regular Accounts both!
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.