29 Jan 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  January 29th 2023 

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:    Last week I noted here that the OPEX week was probably normal pullback and sure enough we continued to ride higher since last Friday’s rally (June 20th).  The 3x ETF service rode SOXL, LABU, CWEB higher this past week and took gains partially on CWEB and LABU and took all the 7-11% gains on ERX.  How far this uptrend goes I don’t know, but 4370 is my intermediate SP 500 target I put out two weeks ago. SRP stock trading service put out a new alert late in the week after a strong pullback in that stock and it popped higher Friday, we took some partial gains and we are riding 5 open positions. Futures service hit for 90 point gain and 45 point gains back to back in the past week.

From IBD weekend edition:

“The stock market rally cleared some major resistance in the past week. The major indexes had solid gains, responding bullishly to uneven earnings reports and economic data. Leading stocks acted well, with breakouts and buy points continuing to work.

Since the Jan. 6 follow-through day, the market rally has shown robust gains. In fact, the advance suggests this uptrend could be a “moneymaker” or even a “life-changing” rally, according to one noted growth investor.

So investors should be taking advantage of the opportunities. But do so carefully. The market rally is around key levels, while it’s another big week for news.

Apple (AAPL), Google parent Alphabet (GOOGL), Amazon.com (AMZN), Facebook parent Meta Platforms (META) are all on tap, as well as hundreds of other companies. Apple stock and these other tech titans are rebounding strongly, but have a lot of repair work. Still, their earnings and guidance will be key for the market rally as well as many other tech stocks.

The Federal Reserve holds its policy meeting this coming week, with another rate hike expected on Feb. 1. The big question is when Fed chief Jerome Powell and his colleagues call a halt to further rate increases.” 

 QQQ in 3 week uptrend along with other indices

Repeated long term chart from Dec 23rd  (Now at 4070 as of 1/29/23) 3491 Wave 2 bottom

  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)

Consistent trading income in ALL market cycles using Bull or Bear 3x ETF’s and my human behavioral pattern analysis.  25% gains on SOXL and LABU already in early 2023. Additional gains in late January in ERX, SOXL, CWEB and LABU as well!  

Just $40 a month and worth it to add to your stock trading

Read up at the3xetftrader.com and join on stocktwits at $40 a month.

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Members of all the premium services are updated daily on market maps and forecasts and we strategize accordingly.   

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SWING TRADING 101– Click to review my 10 plus keys to profitable and consistent swing trading I’ve used since 2009

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

 1/29/23 SWING LIST UPDATED:  SWING TRADE IDEAS WITH A COMBINATION OF STRONG FUNDAMENTALS AND ATTRACTIVE BEHAVIORAL PATTERN CHARTS COMBINED

NEW FEATURE: CLICK ON SYMBOL TO SEE CHART IMAGE QUICKLY   

MODN-3 weeks tight pattern.  Current SRP position. Provides revenue management software for the life science and technology industries

ZLAB – 4 week bull flag. China-based Co develops therapies to treat oncology, autoimmune
disorders, and infectious diseases.

SHLS– 3rd week in a row on list, SRP Members now long as of Friday.  Designs and manufactures electrical balance of systems solutions for solar energy projects, storage, etc.

CRDO – Breaking out of a multi month base pattern this past week. Provides Serializer-Deserializer technology, high-speed connectivity solutions to break bandwidth barriers.

TOST – Breaking out of 6 month base. Provides technology restaurant management platform, hardware,
and software solutions for restaurant sector.

TS – Multi month flat base. 3rd week in row on list. Makes steel pipe products and related services for energy and industrial applications. PE 10

BOX – 7 week overall consolidation and two weeks ago a stop loss run set this up for a breakout here. Provides cloud-based platform for organizations to manage their content/collaborate internally/externally.

ARHS – Back on list, up 34% since I put it on a few weeks back. However had a pullback early last week and responded well, 3 weeks ascending base is bullish. Operates as an omnichannel retailer with 75 Showrooms, including
three Outlet stores, across 27 states.

CHX – 11 week overall base close to breakout. Provides drilling technology, artificial lift solutions and automation
technologies for the oil/gas industry.

AFYA – 11 week overall base, current SRP position. Brazil based Co provides medical and healthcare education through
professional courses in 13 states.

LTH– 2nd week in row on list. 3 weeks of tight closings near highs. A little extended but a rest could end up providing entry for another push. Operates health, fitness, and wellness experiences to an individual member.

ARRY – 3rd week in row on list, current SRP position. Close to 5 month breakout to highs. Designs and manufactures ground-mounting systems used in solar energy projects.  Had a nice pullback last week we advised to add to position.

MBLY – 8 week overall base Israel-based Co develops autonomous driving technology and solutions
and advanced driver assistance systems (Intel did a spin out here recently)

ETSY –  8 week consolidation testing 10 week EMA line. Provides online and offline services which enable people to buy
and sell handmade goods via etsy.com.

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