14 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 15th 2023 

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

Week of  May 15th 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:    Markets remain near interim highs on SP 500 and NASDAQ 100

Markets probably wobbling a bit due to the debt ceiling issues and regional bank concerns. Inflation is coming down very rapidly as I expected.  Too many Bears  out there still so I remain bullish since it seems a lot of bad news is being priced in here, small caps may be the 2nd half winner we will see.

Trading Results:

SRP stock swing trading service added a few new positions late in the week after having a nice run of profits recently. We always sell half of a position once we are up 6% plus and hold the remainder and follow along until we close that out as we try to grab higher percentile gains on the final half of a trade.  This is a great risk adjusted way to lock in profits and avoid the often rip higher and strong pullback later, always take profits with discipline and a plan. 3x ETF remains long TQQQ, SOXL, TNA and soon adding to NUGT.  Futures service is long ES as well (SP 500).

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

  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.  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.

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

5/14/23   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

 SOVO ripped higher last week then pulled back, DT also higher, HIMS pulled back and we bought, we are also long RELY as well. Many names updated and or repeated, 3 new SRP positions last week noted.

LTH – 3 week consolidation near highs. Back on the list again. Operates health, fitness, and wellness experiences to an individual member.

DKNG – We took profits near 25 at SRP a week or so ago, but the pullback may provide nice entry again. Operates an online sports platform that enables users to play fantasy games and win cash prizes.

FLYW – Back on list post strong earnings. 7 weeks tight closing base pattern near highs. Likely to move soon. Operates a software Co delivering global payment enablement to education, healthcare, travel and B2B sectors.

UBER – though seemingly stretched a little in recent upwards price action, the 2 week tight ascending closing pattern is bullish still.  New products as well could push earnings higher ahead.

SOVO – 8 week ascending base near highs.  Ripped higher last week then pulled back on Friday. Maybe consolidates awhile. Provides food and beverage products by acquiring brands to build one-of-a-kind brands. Earnings came out 5/10 already and were solid.

ONON– Current SRP position 1/2 remainder,  8 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 this week! Profiled in IBD this weekend.

 AESI –  Recent IPO, 5  week consolidation.  Provides proppant and logistics services to the oil & natural gas industry. Earnings already reported

TGLS – 4 weeks tight closings near highs. Manufactures tempered safety, laminated and thermo-acoustic glass
for commercial and residential buildings Earnings and outlook were very strong on 5/4.  Overall nice 10 week base 

RELY – New SRP position, 5 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 – New SRP Position. Nice daily base consolidation on pullback. 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 – New SRP Position. Pulled back post earnings on NON DILUTIVE secondary offering at 15 last week. We got long late in week at SRP on the dip. Provides a cloud platform for measurement and verification for trust and transparency of digital advertising.

AGI – Pulled back with Gold stocks last week, better entry here possible.   Canadian company engaged in the exploration and development of gold properties primarily in Mexico/Turkey 

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