21 Feb 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 Feb 21st 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
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Market Notes and this weeks charts:
- C wave still underway which is made up of abc-C 4215 is now the target zone area ahead
- Risk to 3800 on the LOW END if we break 4200 hard
- Energy stocks could continue to lead after recent consolidation
- Futures service went short at 4440, now 4290 as of 2/21 4pm EST huge gains (Leveraged)
- Biotech, Small Caps, etc all looking to test recent lows
- Bitcoin pulling back as projected last week, could test lows at 35-36k again
- SRP going slow as usual, we keep high cash allocation during corrective waves (Stock Trading Service)
- 3x ETF flat coming into this week as we watch market Elliott patterns unfold and potential reversal
- SRP going slow as usual, we keep high cash allocation during corrective waves (Stock Trading Service)
- Futures correctly called the downturn below 4440 and we are riding it down for now
- TPS holding off on new research positions until market bottom confirmed or close
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General Market Summary: Updated Banister Market and Elliott Wave Views on SP 500 and more
Market Notes and Commentary:
Last weeks notes repeated here:
“There is almost always a C wave after an A down, B up… so this is normal action even though it’s not fun for the Bulls. Keep an eye on the 4350’s area as next support and then 4215 and then if we break that well it can get ugly. Loosely I still think we double bottom above the A wave lows at some point, and then may start a Bull cycle up, but one day at a time.”
So far this is playing out and with futures below 4300 on Monday we should see a test of the A wave lows ahead, maybe worse. Good time to be patient with stock trading in terms of going long on new positions for sure. 3x ETF and Futures can trade bearish positions but again we could be getting close to an ABC Bottom. 4220 area is key for SP 500 ahead. SRP Members and 3x ETF, Futures etc members are updated every morning on market conditions and my maps for the markets.
Not much to add as this move I have mapped out as likely so again key is watching prior A wave lows to hold.
The number of stocks hitting 52-week lows exceeds the number hitting highs and is at the lower end of its range, indicating extreme fear. That said, we need the fear reading to drop to 10-15 from current range of 36 (CNN Fear Gauge)
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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 2/21/22-
MNRL- 3 month flat base, not far off highs. Engaged in the acquisition of mineral and royalty interests in oil and
gas properties in the United States
ZIM- 4 week base, this one has been on the swing trade list often. Hitting 52 week highs again last week then pulled back. Israel-based asset-light container liner shipping co provides cargo solutions for all industries. Needs to hold 65
SKY- 3 weeks tight near highs. Manufactures single- and multi-section homes, modular homes
and park models.
AOSL- 8 week corrective pattern, needs to hold 50.50 area. Bermuda-Based Co designs power discretes and power ICs for
conversion/regulation of electricity
FANG- 6 week base near highs, SRP made profits on this recently but still looks good. Engaged in oil and gas exploration and production of unconventional, onshore oil and gas in Permian.
CMC- 7 week overall corrective base. Manufactures steel/metal products/related materials/services for
RIO- 6 week base moving towards old highs…U.K. based company with global interests in mining metals and
SBSW- 6 week ascending base towards highs. South African Co engaged in the mining of platinum group metals
and gold in South Africa and United States
NOG- 6 week base close to breakout. Engaged in the exploration and production of oil and natural gas
within the Williston Basin
RHI- 3 weeks tight near highs. Provides temporary and permanent staffi ng services for the
accounting, finance, administrative
STX- 15 week flat base near highs, needs to hold 106. Ireland-based holding Co manufactures hard disk drives for the
enterprise, desktop, mobile computing.
CARG- 2 weeks tight pattern, could move to upside soon. Provides online automotive marketplace connecting buyers and
sellers of new and used cars
HESM- 6 week base near highs. Provides natural gas gathering and processing, and residue gas and
transportation services to Hess.
PLAB- Needs to hold 17 area. Manufactures photomasks used in the fabrication of semiconductors,
microelectronics/flat panel displays
BKR- 3 week ascending base at highs. Provides wellbore products and technology services and systems to the
global oil and natural gas industry
MTDR- 7 week base near highs. Engaged in oil and gas exploration and production in areas of Texas/
NTR- 9 week base breaking to highs. Manufactures fertilizers and related industrial and feed products in
the U.S., Canada/Trinidad.
MU- If it can hold 87 could try another run up. Makes DRAM, NAND and NOR Flash memory, and image sensors
used in computers, servers and consumer electronics
OVV- 6 week base near highs. Engaged in exploration and production of natural gas and oil in British
Columbia, Alberta, and in the U.S.
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