08 Oct Weekly Stock Market Forecast and Swing Trading Ideas Report
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 October 9th 2023
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“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…”
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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: ABC retracements may have completed last week in QQQ and SP 500
ABC pattern seemingly winding down if not already completed from the July highs. Members of my services have been updated on a daily basis in pre market reports the past few weeks. As we continued to pullback this past week I was seeing several major fear readings using various indicators that I look at. When we have an ABC deep pullback and that is combined with oversold readings and fear gauges getting stretched it helps to pinpoint interim bottoms.
Taking at look at the Nasdaq McClellan Oscillator which I published pre market on Friday when the futures were taking helps to see where we are compared to recent market pivot lows in October 2022 and March 2023. Noting we got a reversal rally on Friday and we will see if this trend can continue. Markets frequently bottom in October from a seasonal pattern perspective.
SP 500 ABC retracement 50%
QQQ ETF (NASDAQ 100) ABC 38% Retracement
Over the past several weeks during the downtrend I went very slow with new positions on purpose. In a confirmed downtrend you can still make profits on swing trading but the number of opportunities are diminished and the risks are higher. We actually had several winning trades in the past few weeks as well as several positions holding up during the last few weeks of downturn where we did not get stopped out. Stocks like ACMR, NTNX, EDU and RELY among our group of swing holdings all held up and on Friday pushed higher as well. If we get a confirmation of an uptrend, we will be more aggressive. In the 3x ETF service we held onto TQQQ, SOXL a recent pick which is up nicely and we doubled up on Friday, and a small position in TNA which we are down on as of now. Futures service got stopped out a few times on tight stops during the downtrend and advisory on Friday was that risks were to the upside, not the downside ahead.
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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. This list tends to reflect the stronger sectors of the market at various times and cycles.
SWING TRADING 101– Click to review my 10 plus keys to profitable and consistent swing trading I’ve used since 2009
10/8/23 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
ACMR – SRP Position as of 9/26, SRP Members already took some big gains on 1/2 of position. 3rd week on the list, moving up now. #1 on IBD 50 this week again. PE 13 Manufactures and sells single-wafer wet cleaning equipment and products for the semiconductor industries
RELY – 7 week flat base near highs. SRP position pushing higher last week. Looks ready to break to the upside. Provides digital financial services for immigrants through Cross-border remittance and banking services
GLBE – 10 week flat base, could push higher. Israel-based Co provides platform that enables global,
direct-to-consumer cross-border e-commerce solutions.
DUOL – 3 month base could break out shortly. Designs and develops digital a language-learning education platform,
suggests lessons in multiple languages
MMYT – 6 week base near highs. India-based provider of online travel services primarily for individual
travelers via www.makemytrip.com
CWAN – 4th week on list, 5 week ascending base at highs on Friday. Provides SaaS solutions for investment data aggregation, accounting, analytics, and reporting services.
FRO – 4 week consolidation base near highs, pullback could provide nice entry. Provides tanker transportation services of oil and oil products through a fleet of 70 vessels
MOD – 4th week on list, 6 week base near highs. Would like to see 44.35 hold. Ranked #1 in sector by IBD. Manufactures thermal management systems for automotive OEMs and the building, industrial and refrigeration
YY – 5 week ascending base, pushed higher on Friday. PE 12. Chinese provide online voice and video communications services, social networking services and online games. 2nd week on list.
TIGR – 6 weeks tight base pattern for this Chinese online brokerage.
EDU – 10 week base near highs. SRP Position as of two weeks ago, already took 1/2 profits. Chinese provider of language training & test prep courses to 3.7 mil students via 107 schools/637 centers
DLO – SRP Position. 5 week pullback corrective base pattern. Uruguay based Co provides cloud-based payment platform to global enterprise merchants in 40 countries. Held up well in the correction.
FUTU – 5 week consolidation. Needs to hold 56.60 area, 3rd week on list. China based company operates as a holding company that offers an online brokerage platform
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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 11 years of advisory services! Track Record of 2019 to 2023 YTD Trades
Tippingpointstocks.com– Growth Stocks aiming for 1x-5x upside with our proprietary research! Fresh ideas every month and ongoing advice! 9 stocks doubled or or better after bear cycle ended in 2020. With Bear market 2021-2022 now offering many public companies trading below private market valuations Constantly rotating portfolio with deletions and additions as time goes on. Very volatile movements and not suitable for moderate or low risk investors.
E-Mini Future Trading Service ESALERTS.COM $50 a month on stocktwits
SP 500 Futures Trading Advisory service. Hosted on Stocktwits.com… 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.
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