07 May Weekly Stock Market Forecast and Swing Trading Ideas Report

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SWING TRADING OF 3X ETF’S , STOCKS,  E MINI SP 500 FUTURES,  AND MOMENTUM GROWTH STOCK RESEARCH SERVICES VIA SUBSCRIPTION

Weekly  Stock Market Forecasts, Charts, and Swing Trading Ideas List and Strategies Report

Week of May 1st 2023 

StockReversals.com Members get an exclusive 25% coupon offer to join our SRP Swing Trade or Momentum Growth stock TPS  subscription services. 

Read up on all 4 Subscription Options at TheMarketAnalysts.Com or bottom of this Report

Weekly  Stock Market Forecasts, Charts, and Swing Trading Ideas List and Strategies Report

Week of  May 8th 2023

Bill L.   Member of multiple services

“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…”

–Peter Brandt, CEO, Factor LLC #10 2017 Twitter Favorite Traders Poll and Top Ranked Commodity Trader

“David, you are, without a doubt, one of the best if not the best Elliott Wave guys I am aware of” 8/30/17 

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:   Market moves up late in week

Last weekends notes proved prescient so far…

Still maintaining bullish stance, the pullback this past week pulled the SP 500 back to the 34 day EMA/SMA moving average lines which is common for a deeper pullback.  This is often the Max Pain point where traders throw in the towel, but this is where I usually double up on a 3x Bull position like SOXL or TQQQ for example if I believe the intermediate trend is still bullish and intact. I updated the long term monthly SP 500 chart using my 55 month SMA line for reference, and you can see where major PAIN lows usually form.  We are in a Bull market now, albeit choppy.

Market had a nice rebound after choppy downside trader earlier in the week. I informed my subscribers in the 3x ETF service to stay the course and not panic.  SRP once again had nice profits on our carefully selected trades in DKNG and WULF.

I will say that luck is what happens when preparation meets opportunity. So… the weekly swing trade ideas list is updated and refreshed based on current market conditions. I then monitor my list all week long and wait to pounce on the best set ups the market gives me.

Trading Results:

SRP took nice 8-13% gains in just a few days from alert on DKNG and partial 1/2 trade profits on WULF. 3x ETF saw TQQQ rip higher off the lows and into the green for our position, also added TNA and doubled up on SOXL ETF.  TPS is about to push out a new research report or two this coming week as well. We aim for 50% plus gains in that service. (Recent big winners GANX, TGTX, now COYA)

QQQ ETF breaking out possibly any day, long TQQQ in 3x service:  

SP 500 Banister 55 month SMA chart shows bounce off long term Bull trend line… Updated 4/29/23

  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. 15% gain in LABU in April and 9% in SPXL with positions alerted every week. Over 70% success rate since inception.

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.

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!!

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

In addition to being a member of various services,  you can follow my comments during the week: 

• Twitter @stockreversals
• Stocktwits @stockreversals for daily commentary and or in my subscription services to stay up to speed daily. 
• Follow me on  Linked In as well where I provide periodic updates to professionals

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

5/7/23   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

 SMCI up 30% last week off this list, DKNG also was up 15% plus hitting my $25 target and SRP position closed for profits!

DT– 13 week base, earnings due on 5/17. Develops software intelligence platform to allow customers to modernize and automate IT operations

SOVO – 7 week ascending base near highs. Maybe consolidates awhile. Provides food and beverage products by acquiring brands to build one-of-a-kind brands. Earnings due 5/10

ONON– Current SRP 7 week consolidation near highs. Was on list a few weeks ago and ran up 46% that week. Switzerland Based CO operating 9,232 retail stores worldwide that offer premium sports shoes and apparel.  Earnings due 5/16

 AESI – Earnings due 5/8, Recent IPO, 4 week consolidation nearing breakout of IPO price at 18 after energy stocks are now rebounding. Provides proppant and logistics services to the oil & natural gas industry.

TGLS – 2nd week on list. Manufactures tempered safety, laminated and thermo-acoustic glass
for commercial and residential buildings Earnings and outlook were very strong on 5/4 this past week.  Overall nice 9 week base

DRVN – 5 week ascending base consolidation. Provides automotive services like paint, collision, glass, vehicle repair,
oil change, maintenance/car wash. 

RELY – Back on the list again. 4 week consolidation just off highs. Tested 10 week EMA line again. Provides digital financial services for immigrants through Cross-border remittance and banking services.

HIMS – Nice daily base consolidation. Telehealth and wellness firm with male and female intimacy products, subscription revenues, and expansion of product lines. 

DXCM – 6 month flat base near highs. Develops continuous glucose monitoring systems for ambulatory use
by patients with diabetes

IAS – 4 weeks tight breakout last week. Provides a cloud platform for measurement and verification for trust
and transparency of digital advertising.

AGI – Breaking out of 4 week consolidation near highs. Canadian company engaged in the exploration and development of gold properties primarily in Mexico/Turkey

UBER – Broke out of multi month base on earnings. Develops and supports proprietary technology applications that
providers of ridesharing, and meal preparation

Read up on my various offerings to take advantage of Bull and Bear cycles in the markets below or at Themarketanalysts.com