20 Nov 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 November 21st 2022
“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!” @JTD26 on Stocktwits
Stock ,ETF , and SP 500 Futures Swing Trading plus Growth Stock Investing options for members
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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: 4100/4125 area key resistance ahead for SP 500
Market had a general pullback during the week but bounced up into Friday. As long as 3910 and or 3830 pivots hold on SP 500 this remains a bullish elliott wave pattern wave 3 up to 4100/4125 resistance potential.
NASDAQ as noted last week has to get past 11,530 area which it was unable to do this past week
Biotech remains in a 7 wave sideways grind in terms of the index, but some individual names are moving north. One of them the SRP members remain 1/2 long on from 4.10 and it closed about 40% higher on that final 1/2 of the position at end of last week.
So other than some volatility for sure last week, the pattern I laid out here last weekend remains the same. A larger Wave 3 up to 4100/4125 initial resistance is in place after which I can better assess the pattern from there. 3830 on very low end is key to this view for support.
In the meantime, SRP has a 40% gain on the final 1/2 of our Biotech small cap play going into Monday. Also alerted a few new positions last week and advised members to add to HRMY on the big dip this past week as well.
3x ETF doubled up on LABU late in the week on the final dip (3x Bull Biotech XBI) and we have a 1/2 position on TQQQ as well looking to possibly double up as well.
We were looking at SOXL and missed entry by about 50 cents on the pullback this past week, it popped back up late in the week and chip stocks remain strong.
Chip stocks as I’ve been saying (Last weekend report) are key to watch for a new bull market indicator. They tend to lead tech stock recoveries and they have been uptrending hard. When you see bad news and poor outlooks and stocks in that sector go up, that is always a good sign.
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 ERX recently for 20% gains and LABU for 8-9% gains.
Just $40 a month and worth it to add to your stock trading
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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
11/19/22 updated for Weekly Report and week and near term ahead
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.
EE- 4 week tight base pattern looks like it could push higher soon. Provides liquefied natural gas distribution, terminal services, and reliable energy solutions
IMCR- 4 week ascending base, 2nd week in row on list, near 52 week highs. Develops and markets immunotherapies with T-cell receptors to treat cancer, infectious and autoimmune.
ACDC- 2 weeks tight closing at Post IPO highs. PE 10. Pressure pumping Co, provides hydraulic fracturing services with
equipment, manufacturing and distribution.
ABCL- 4 week ascending base at Post IPO highs. Canadian provider of drug discovery platform designed to develop
next-generation antibody therapies, 4 Billion market cap
HRMY- 2nd week in row on list and new SRP position. 3 weeks tight closings. Develops and commercializes therapies for patients living with rare neurological disorders.
AFYA- Back on the list, got a little extended but now this pullback sets up a possible better lower risk entry on a 3 week pattern. Brazil based Co provides medical and healthcare education through professional courses in 13 states.
FLEX- PE 9, 2nd week on list, SRP position as well as of last week. 13 week base breakout two weeks ago but pulled back some this week then bounced up Friday nicely. Still has room to run. Singaporean contract manufacturer of flexible circuits and printed circuit boards for computer
CPRX- Got as high as 16.66 two weeks ago on huge move up of the weekly swing trade ideas list on last weeks earnings report, on list for a 3rd week in a row with a nice pullback to still look attractive for entry. Develops prescription drugs for neuromuscular and neurological diseases and disorders.
ENLC- 4 week ascending base near highs. Engaged in the gathering, transporting, storing, distribution and
marketing, of natural gas and crude oil.
OXY- Warren Buffet favorite, 12 week base, near a breakout and strong earnings last week. Engaged in the exploration and production of crude oil and natural gas worldwide. Cash flowing, stock buy backs, dividends…
GMAB- Forming right side of a huge cup base pattern, PE 35, huge growth. Denmark based company develops antibody therapeutics for the treatment of cancer and other diseases.
PARR- 5 weeks tight base, new SRP position as of Friday 11/11. PE 4 Engaged in the refining, distribution and marketing of oil and gas, commodity marketing
PBT- 3 weeks tight closings near 52 week high breakout. Trust holding overriding royalty interests in producing oil and gas properties in Texas
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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.
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