26 Dec Weekly Stock Market Forecast and Swing Trading Ideas Report
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Weekly Stock Market Forecasts, Charts, and Swing Trading Ideas List and Strategies Report
Week of December 26th 2022
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General Market Summary plus Swing Trade Ideas List:
Updated Banister Market and Elliott Wave Views on SP 500 and more and weekly swing trade updated ideas list is at bottom of this report
Markets and more: 3765 hit with 3725-3740 key still on SP 500 pullback
As mentioned in the Dec 18th weekend report 3740 was a support line for SP 500 pullback. We got pretty close this past week and for now the correction is normal. Of some concern is the now obvious A equals C rally where A was the same length at C in the uptrend, and then the D and E afterwards culminating in essentially a failed double top breakout attempt.
This is why 3725-3750 area is key to hold and if not we could be in for some larger downside ahead.
The long term charts are questionable but at the 3491 lows that pullback from 4800 made a lot of sense to stop around 3500 which was my call at the time for a low.
So as always with my 3 swing trade services it doesn’t matter all that much if we are in a pullback, downtrend, correction, uptrend, bull cycle etc, what matters is proper positioning and timing. With the stocks in a downtrend or correction pattern like recently I will be much higher in cash allocation and maybe just a few swing trades open at a time, and the opposite in a confirmed uptrend by my Behavioral based views.
3x ETF can go long or short at 300% on sectors via SPXL, SPXS or LABU, LABD just naming a few. Futures service the same thing, in fact last week we hit for an 85 point win going short equivalent to about a 22% gain in barely over 24 hours. My advice for best results in all cycles is to subscribe and follow me in the Stock, 3x ETF, and Futures services at the same time if you want more profit opportunities. We also made a nice 12-15% gain in one of our stocks at SRP last week while the market was actually going down! We sold it at the high or close to high of the move last week on Friday morning in fact.
So near term, 3725-3740 key to hold for SP 500.
That said, it’s end of the calendar year trading week probably nothing of note. January will be key to watch for the trends. AAPL, TSLA and other former leaders continue to drop, new leaders emerge and that is the work I will do both in 3x ETF sector trading and SRP Stock swing trading.
Trading Ideas at bottom of the report: Interesting to see Home Builders, Heavy Construction, Steel producers, Energy related plays, a few medical related, and some Industrial manufactures as leaders. Every market has leading and lagging sectors, key is to be in the right areas at the right time.
Updated SP 500 Charts, Long and Short Term:
Trading Results: SRP Stocks, 3x ETF, Tipping Point Long Term stocks, Futures
SRP stock trading service hit BIVI For nice 12-15% gains on each half of the position as that Biotech rebounded last week. We only hold HRMY 1/2 position remainder at this point as we go slow during the correction. Likely to add positions near term though. (See Swing Trade ideas list for starters, I work off of that depending on action during the week).
3x ETF service made a quick short based trade on the Semiconductor index by going long SOXS. We closed it for a quick small gain and now are watching market and sector trends for our next move.
Futures Service we took huge 85 point gain also this past week for about 22% equivalent.
Consider joining my 3x ETF Swing Trading room on Stocktwits, gives you very nice exposure to sector swings based on human behavioral patterns. Removes single stock risk and gives you a better upside beta and lower risk with your overall trading plans (SRP, 3x ETF, Futures etc)
Closed out TQQQ, LABU, and SOXL for gains before the market peaked and turned south two weeks ago, and few weeks ago we sold SPXL For 8% gains in 2 days, and this past week SOXS For 4-5% gains
Just $40 a month and worth it to add to your stock trading
Futures service is also on Stocktwits and just $50 a month, huge profits last several weeks and you can now sign up for Auto-Trade platform 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
SWING TRADING 101– Click to review my 10 plus keys to profitable and consistent swing trading I’ve used since 2009
12/26/22 updated for Weekly Report and week and near term ahead. Interesting to see Home Builders, Heavy Construction, Steel producers, Energy related plays, a few medical related, and some Industrial manufactures as leaders
CPRX up 18.8% last week in a down week after being on our list for 6 weeks. PBT also broke to the upside.
Updated list for the near term and intermediate window ahead based on sectors, individual stock fundamental strength, and Banister Behavioral Patterns lining up for strong probable upside.
FOUR- 20 week consolidation, could break out soon on speculation with Elon Musk tie ups perhaps. Payment processor expanding into 20 countries. Near highs.
CELH- 4 week correction to 10 week EMA line. Develops and markets functional calorie-burning fitness beverages under the Celsius brand in U.S., recent deal with Pepsi
CMC- 5 week base pattern near highs. Makes application-optimized server systems, chassis, server
boards/power supplies for distributors/OEM’s. PE 6
GFF- 6 week consolidation near highs, PE 9. Manufactures plastic films/laminates, garage doors, landscaping
products /electronic communication systems.
MEDP- 9 week consolidation near highs testing 10 week EMA. PE 32, 59% growth. Provides outsourced clinical development services to biotechnology, pharmaceutical/medical device industries
GMAB- 4 week pullback consolidation. Denmark based company develops antibody therapeutics for the
treatment of cancer and other diseases. PE 37 ,Recent growth 140% YOY. Testing 10 week EMA line. Denmark-based biotech and medical stock Genmab has shown accelerating quarterly growth in sales and EPS.
MODN- Pulled back from highs, attractive. Provides revenue management software for the life science and technology industries.
TTC- 7 weeks tight closings near highs. Manufactures turf maintenance/landscaping equipment, irrigation
systems and residential yard products
TS- 7 week flat base. Makes steel pipe products and related services for energy and
industrial applications. PE 10
TTE- 6 week base near highs just now breaking out a bit. Engaged in exploration and marketing of oil, biofuels, natural gas, and renewables on a global scale.
PLNT- 6 weeks tight consolidation. Operates 2,254 fitness centers with approximately 15.2 million
members in 50 states, Puerto Rico and Canada.
TWI- 9 week consolidation near highs. PE 7 Manufactures off-highway wheels, tires and assembly products for
AFYA- 7 week base, back on the list. Brazil based Co provides medical and healthcare education through
professional courses in 13 states
GLP- 8 week ascending base at highs. PE 4. MLP engaged in wholesaling gasoline, home heating oil, diesel,
kerosene and residual oil in Northeastern U.S
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