09 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 10 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 Shearer- 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
- Charts this week on Bitcoin and Ethereum long term monthly views (Looks like bottoms)
- Sentiment for Crypto is at extreme bearish/fear levels, last seen at July 21 Crypto Bottom
- SP 500 may pullback to 4640’s key support for now (Chart)
- QQQ in a triple bottom, hit hard last few weeks needs to hold (Chart)
- IWM Small caps also pulling back to 61% Fib line, needs to hold (Chart)
- Fear and Greed index for Stocks is Neutral right now reading of 52
- SRP only had a few positions lately open due to market volatility. Took gains on ON at 71 closed the week at 64.50, losses on 2 others, currently flat going into this week as we see how markets move next. Swing Trading service also looks at Top Down approach to market metrics (Bullish/Bearish waves) and positions aggressively or conservatively accordingly
- 3x ETF booked profits over a week ago on several, took losses this past week with stops on SOXL and TNA Hitting
- Futures service was long with a nice gain, then stopped out well above current levels
- TPS seeing rebound in a few names to start year, pullbacks in two of our Crypto related plays provide opportunity
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General Market Summary: Updated Banister Market and Elliott Wave Views on SP 500 and more
Market Notes and Commentary:
Rough waters of late. The NASDAQ 100 finally took it on the chin, and often during a market correction we can’t bottom until “The Generals fall”, an old Wall Street axiom. With the NASDAQ 100 ETF at a triple bottom pattern, near term reversal is important or we could correct further. Sentiment is dialed in at 52 on the CNN reading which is right in the middle of Fear and Greed so that is not of much help in calling a firm bottom just yet.
Banks, Brokerages, Oil and Gas are leading right now, some of which are in the weekly swing trade ideas list at bottom of this report.
This week several charts, I’m also including CRYTO assets Bitcoin and Ethereum and their long term charts are calling for a near term tradeable bottom here. Sentiment for Crypto is at an extreme fear reading of 10, the lowest since July 21 lows and lowest reading in over a year, typically the right time to buy. This should be the year that institutions get involved more aggressively. To wit, we just saw KKR lead a series C round in Anchorage Bank (Crypto/Digital) with a 3 Billion valuation in late December, a nod of institutional approval of this asset class.
3x ETF is flat going into this week as well as SRP and Futures services
Charts below: IWM, SP 500, QQQ, Crypto Sentiment, Eth and Bitcoin
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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 Stablecoin and yield platform called LUNA (Up 50% already from report, now pulling back to buy ranges again)
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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 1/9/22
AOSL- Pullback may provide opportunity. SRP already banked on this recently. Bermuda-Based Co designs power discretes and power ICs for conversion/regulation of electricity
SGH- Pullback may provide opportunity. SRP already banked on this recently. Designs and manufactures specialty solutions for the computing, memory, and LED markets
MP- 9 week base near highs. Has been on list last few weeks, it spiked up last week to highs and pulled back. Owns and operates rare earth mining and processing site of scale in the Western Hemisphere.
ZIM- Prior winner for SRP as well, little pullback off highs hear and nice 3.5 month base. Israel-based asset-light container liner shipping co provides cargo solutions for all industries
AMN- Recent SRP winner, now pulling back to possible re-entry ranges. Offers permanent and temporary staffi ng of physicians and nurses to healthcare facilities in the U.S.
SIMO- 5 week ascending base near highs. Taiwan-based company designer of microcontrollers, universal
serial bus fl ash drives, card readers
STX- 9 week overall base, pulling back hard here but may provide opportunity. Ireland-based holding Co manufactures hard disk drives for the enterprise, desktop, mobile computing etc
WFG- 3 month base, pulling back here may provide good entry. Canadian Co manufactures and distributes wood products for home construction with more than 60 facilities.
VRTX- 4 weeks tight closing base after nice rally. Develops and commercializes therapies for the treatment of cystic
BRLT- 9 week Post IPO base. Operates 14 Jewelry stores that manufacture and designs jewelry
PX- 13 week Post IPO Base. Provides multi-asset class private market solutions in alternative asset
FANG- Breaking out of 3 month flat base near highs to highs. Oil and Gas stocks heating up. Engaged in oil and gas exploration and production of unconventional, onshore oil and gas in Permian.
HWC- Breaking out to highs out of 3 month base. Holding company for Hancock Bank and Whitney Bank operating via
217 offices in AL, FL, LA, MS, TN and TX.
LBAI- Breaking out to highs out of 3 month flat base. Holding Co for Lakeland Bank operating through 48 offi ces in Morris, Passaic, Sussex and 6 other NJ counties
SCHW- Breaking out of 3 month base to highs. Provides brokerage, banking and fi nancial services via 360 branches
in 48 states
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