09 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 10th 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: Consolidation is normal
13 day Banister Base into late last week is normal in terms of a corrective pattern. I’m sticking with my 4800 target intermediately. Chart updated below. We added TQQQ 3x Bull ETF on Nasdaq 100 on Friday in the 3x room, and we remain long LABU and TNA as well, we doubled up on TNA last week as well. Let’s see if we get follow through.
Quiet holiday week last week but we did manage to take 17% profits on GLBE and add a position late in the week in the SRP service as well. We had a loss on INTA with an still unexplained drop on insider selling over a week ago, likely oversold here. 3x ETF is riding 3 positions now with late week adds on TNA and TQQQ. SP 500 ES Futures service had a big gain a week ago from 4415 to 4485 and this past week we advised a likely low at 4410-4420 which hit and a rally back up was likely.
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
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7/9/23 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
TGLS – Remains on list for 3rd week, had a big push after a base reset but still attractive. Pulled back last week to test prior base highs, then bounced up. 10 weeks overall consolidation. Manufactures tempered safety, laminated and thermo-acoustic glass for commercial and residential buildings
ELF – Tight base near highs. Repeated on the list again. Manufactures and markets cosmetic and skin care products under the e.l.f. brand name. Staircase climbing pattern is very bullish.
DKNG – 10 week consolidation near highs, looks ready to run. Operates an online sports platform that enables users to play fantasy games and win cash prizes. 3rd week on list, moved up some last week.
ALGM – Back on the list after a base reset. 13 week overall base, could push to highs soon. Designs sensor integrated circuits and power integrated circuits for the automotive and industrial markets.
IOT – Back on list after ripping higher awhile back. 5 week corrective base makes risk reward more attractive now. Provides an end-to-end solution that allows businesses that depend on physical operations to harness IoT data
ONON– 3rd week on list after a base reset. 15 week volatile consolidation but shaping up. Switzerland-based Co operates in 9,232 retail stores worldwide that offer premium sports shoes and apparel
CFLT – 6 week tight base near highs. Offers a cloud-based platform for data infrastructure software
designed to focus on data in motion.
FLNC – 9 week base pattern consolidation. near 23-24 ranges I think is possibly a good entry area. Provides energy storage products, services and digital applications for renewables and storage applications
DT – 6 week base week base pattern near highs. Develops software intelligence platform to allow customers to modernize and automate IT operations. Revenues accelerating.
UBER – 4 weeks tight base near highs Develops and supports proprietary technology applications that providers of ridesharing, and meal preparation
LTHM – 4 week consolidation near interim base highs. Produces lithium compounds for use in applications that have
specific performance requirements.
LYV – A bit overbought but a nice 4 weeks tight ascending base near interim highs. Operates 338 venues offering live entertainment events such as music concerts and theatrical performances.
DOCN – 6 week consolidation attractive. Offers cloud-based on-demand infrastructure and platform tools for
accelerated innovation and productivity
FIHL – Barely two week old IPO, but could be attractive entry. Provides specialty insurance & reinsurance products for property, energy, marine, & aviation industry
FROG – 5 week base near highs. Provides binary repository management solution for software distribution to software developers.
LTH – 11 weeks tight closings base. Operates health, fitness, and wellness experiences to an individual
PDFS – 14 week overall base near highs. Provides integration engineering services and software for semiconductor companies
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