30 Jul 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 July 31st 2023
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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:
A few weeks ago in my last Weekly report I said a normal correction in the markets and still looking for 4800 on the SP 500. Since then a nice rally and we have done well with 3x ETF bull positions and SP 500 E Mini Futures trades for sure. Now though things are still attractive from a chart perspective but we are starting to pile up some signs of topping short term. I look at sentiment readings, Elliott Waves, and much more as well as 200 week EMA Lines, Weekly Bollinger bands on major sectors/ETF’s, and other readings like % of bulls in surveys vs bears, along with money manager positioning percentage wise in equities. My target for 2023 has been 4800 for the SP 500 but short term we could be ready for a correction in the Aug/September window, but again one day at a time as usual. I play the cards in front of me as best as I can but I also will keep my eyes open for more topping signals.
Areas of note are Chinese ADR’s, China Stocks in general, Energy Sector, Oil, Gold, Emerging markets right now in my opinion. A very strong tape on Friday for China stocks, though they could pause this trend could continue as sentiment for China is very bearish, but the stocks are saying otherwise.
Trading Results:
Nice 45 point win in the ES futures room, on top of 110 point win the prior week. Also 3x ETF took gains off the table on TQQQ, TNA and a few others. We are also long SOXL (Chip Stocks) which bounced big this past week, and likely a few new positions this coming week. SRP stock swing trade service has been doing well with a 14% gain taken on LI this past Friday along with profits in other positions given the market conditions. TPS in the last few months had 100% gains on TGTX and WULF.
Swing Trade ideas list is now refreshed for the current market environment at the bottom of this report.
Updated Daily SP 500
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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
SWING TRADING 101– Click to review my 10 plus keys to profitable and consistent swing trading I’ve used since 2009
7/29/23 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
DOCN – Earnings due 8/3. 4 week consolidation near highs attractive. Offers cloud-based on-demand infrastructure and platform tools for accelerated innovation and productivity
DV – 3 weeks tight pattern near highs. Earnings due Monday though. Develops software platform to provide transparency of digital advertising via 21 offices in 17 countries
ONON – 11 week overall base reset pattern and now nearing a breakout possibly. SRP position as of last week, we were accumulating this last dip. Switzerland-based Co operates in 9,232 retail stores worldwide that
offer premium sports shoes and apparel.
ODD – Recent IPO, early Post IPO base pattern. Strong support out of the gate. Israel-based Co engaged in the online retail sale of cosmetics and beauty products.
ALGM Earnings due 8/1 Has been on and off the list. 3 weeks tight base pattern near highs. Right side of bullish cup pattern forming. Designs sensor integrated circuits and power integrated circuits for the automotive and industrial markets.
FROG – 3 weeks tight closings near highs. Provides binary repository management solution for software distribution to software developers.
FIHL – 5 weeks tight POST IPO closings pattern. Current SRP position. Provides specialty insurance & reinsurance products for property, energy, marine, & aviation industry
DT – 9 week overall base and still on list. Could push to highs soon. Develops software intelligence platform to allow customers to modernize and automate IT operations. Revenues accelerating.
ZS – 7 week base, could break out of range. Operates a massive, global cloud security architecture, delivering the
entire gateway security stack
CUK – Carnival Cruises, 5 week base near highs. Operates cruise vacations with 90 ships under 9 brands servicing
North America, Asia, Australia/Europe.
IOT – 8 weeks tight closings, current SRP position. Provides an end-to-end solution that allows businesses that
depend on physical operations to harness IoT data
SHOP – 12 week base, earnings due on 8/3 this week. Shopify operates an e-commerce
platform that small businesses use to build online stores.
PDFS – 17 week overall base near highs. Provides integration engineering services and software for semiconductor companies
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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.
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