23 Oct Weekly Swing Trade Ideas and Market Forecasts Report
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Weekly Stock Market Forecasts, Charts, and Swing Trading Ideas List and Strategies Report
Week of October 24th 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: 3500 base continues to hold, possible rally to 3810 near term resistance
A bit of a rounding bottom on the daily charts forming for SP 500. In the 3x ETF service on Stocktwits we got long the energy sector via ERX (2x ETF) last week at 57, currently 66 area for a nice move up. We also are long Biotech late in the week via LABU as the market may be turning up here for a run in October to complete the Bear Cycle.
I would like to see the SP 500 get past 3800 resistance with some authority though for the Bulls to get more determined.
The SRP stock swing trade flagship service (Since 2009) had a banner week with 3 stocks closed out for nice gains, and two new positions issued as well both moving higher early on. The environment for swing trading is very bullish right now in my opinion. I use a methodology that has produced 70% profitability rate since 2009 in all cycles. The combination of fundamentals combined with a behavioral pattern based charts that line up for a near term move higher.
This weeks swing trade ideas list at the bottom of this report is updated reflecting some of the better ideas near term. Last week multiple huge winners off the list. My method reflects the sectors of the day and time that are most bullish, and then drills down within those sectors to find the best stocks ready for a move higher. Some recent names CCRN, AMLX, CPRX just naming a few.
XBI ETF (Biotech) needs to hold 75 for reference, below is the updated SP 500 chart
SP 500 chart :
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)
Up over 13% on ERX position this past week still holding 1/2 and also getting long LABU as well.
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
10/23/22: Lots of names repeated from last week, as they still look good. New names have been added. Many names ripped higher off of last weeks list. CCRN up 14%, CIVI up 7%, MTDR up 12%
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.
CF- 8 week base could break to upside .Manufactures nitrogen fertilizers including urea, ammonia nitrate/
urea ammonium nitrate in North America
CRBG- 2nd week on list and a new SRP position last week. Recent IPO forming a nice base pattern and mentioned this Weekend in IBD edition. Provides retirement solutions and insurance products in the United States. Fast EPS and Revenue Growth
VRTX – Multi Month “Flat” base looks poised to run up. Develops and commercializes therapies for the treatment of cystic fibrosis.
ESTE- 3 weeks tight closings, trying to push up off right side of a corrective base. Engaged in oil and natural gas exploration and production in the Delaware and Midland Basin of west Texas. PE 5
SRPT- 10 week flat base near highs, needs to hold 104. On list 4 weeks in a row. Develops RNA-based therapeutics using proprietary antisense technology to treat genetic, infectious diseases.
TALO- 2nd week in a row on the list after coming back up from energy correction. Engaged in exploration and production of oil and natural gas in the Gulf of Mexico. Reverse head and shoulder, 3 weeks tight pattern looks bullish
AMN- Cup and Handle, reverse head and shoulder , 3 weeks tight pattern. Offers permanent and temporary staffing of physicians and nurses to healthcare facilities in the U.S.
AHCO- 2 weeks tight closings. Provides home medical equipment and respiratory therapy services
to empower patients out of the hospital.
DV- Current SRP position, looks bullish still here. 6 weeks tight consolidation, could break out soon. Develops software platform to provide transparency of digital advertising via 19 offices in 12 countries
LBRT- 8 week reverse head and shoulder base pattern. Provides hydraulic fracturing, wireline services to onshore oil,
natural gas E&P companies in North America.
AEHR- Broke out of 9 week base but could still run higher. Manufactures wafer test/burn-in systems used to analyze memory and logic ICs for the semiconductor industry.
CPRX- 11 week overall base. SRP sold for profits last week but this still looks bullish. Develops prescription drugs for neuromuscular and neurological diseases and disorders
DGII- 12 week base looks poised to break out .Manufactures connectivity/networking devices for telecommunication
companies/internet service providers.
PERI- 11 week flat base. Current SRP position, also 13 day base is bullish. Israeli-based developer of customized email software for the consumer and home user markets.
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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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 2019-2022 trades online
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SP 500 Futures Trading Advisory service. Hosted on Stocktwits.com and also Auto-Trade option outside of Stocktwits… 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.