19 Feb Weekly Stock Market Forecast and Swing Trading Ideas Report
TheMarketAnalysts.Com
Weekly Stock Market Forecasts, Charts, and Swing Trading Ideas List and Strategies Report
Week of Feb 19th 2024
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General Market Summary plus Swing Trade Ideas List:
Updated David Banister Market and Elliott Wave Views on SP 500 and more plus the weekly swing trade ideas list is at bottom of this report
Markets, Charts and more:
Wave 3 up in the markets is ongoing. This is usually the most powerful of a larger 5 wave move up after a Bear market low (October 2022, secondary low October 2023).
When you know what pattern you are in, trading is much easier and you can enter positions with confidence when you know the market direction in advance.
3x ETF, ES Futures, Stock Swing Trading have all been profitable at 80% success rates plus in the last 90 plus days due to this powerful wave up.
One good example also though is taking a contrarian swing trade such as with YINN this past week or two. China has been in a Bear market for some time now, but the behavioral pattern recently indicated at least a counter-trend Elliott Wave Move was at hand. We entered in two tranches, and this past week YINN ripped off the low 15’s to mid to upper 17’s where we took our 8% profits on 1/2 the position. We also got into Energy recently, contrarian play as well because the sector had lagged. However, a Banister Behavioral pattern (13 days) emerged and that pushed us into 2x Bull ERX position which then pushed much higher last week.
Behavioral patterns rule the market movements, not interest rates, FOMC Meetings, CNBC commentary, Inflation etc… its how the group of investors as a whole decide to interpret news… In a Wave 3 up, everything ends up being interpreted as bullish… and when you understand that, you start to crush the market swing trading…. and that my friends is what I do for a living… bringing you the best swing trade set ups based on behavioral patterns for ES Futures and 3x ETF, and combining fundamentals and behavioral patterns both for the Stock Swing trading service.
Looking for 5220 on SP 500 still and dip buying opportunities should continue to present themselves probably into early April before we get a 4th wave correction… one week at a time
The Stock Swing Trade ideas list is updated for the near term window ahead. Last week the big winner was FROG…
SP 500 5220 target was put out on Feb 2nd
Trading Results: Stocks, 3x ETF’s, and SP 500 futures services
3x ETF Now on NEW PLATFORM!!!
The3xetftrader.memberful.com SMS Text, Post, Email, Morning Reports and more!! Includes ES Alerts and Stock Options Trading subscription options to add.
In the 3x ETF service service is long 3 positions and took Profits on SOXL, YINN, SPXL and we took profits on SOXL, SPXL, and YINN partially
SRP stock swing trade service added two new positions and took profits partially on one
The futures service got long ES at 4968 and closed at 5025.
Trading Results: See full SRP Stock Swing Trade results 70% success rate since 2009 click below
Swing Trade ideas list is updated at the bottom of this report reflecting current market conditions and relative leaders based on my review of fundamentals and chart patterns both.
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SWING TRADING 101– Click to review my 10 plus keys to profitable and consistent swing trading I’ve used since 2009
- 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
2/19/24 Updated list and updated notes on older names as well
Click on Symbol to see Chart for each Stock listed
GCT and FROG pushed up big last week off this list and have been removed.
NTNX – 4 weeks consolidation near highs. Earnings due 2/28. Provides enterprise cloud platform that converges server/virtualization/ storage into one integrated solution.
IOT – Back on list, 12 week flat base which is rare near highs. Earnings 3/7. Provides an end-to-end solution that allows businesses that depend on physical operations to harness IoT data
S – Back on list, we profited at SRP on this one for a swing but still attractive. 4 week consolidation near highs. Provides AI-powered XDR platform to autonomously prevent, detect, and respond to cyberattacks.
TBBB – New Post IPO base play, public on Feb 9th so needs some time. Mexico based company which operates a hard discount retail store chain in the country.
PCOR – 8 week base near highs. Provides cloud-based software for modernizing and digitizing construction management.
GTLB – 4 week ascending base near highs. 3rd week on list, ripped higher off the list 4 weeks ago but still looks like it can run to more highs. Provides DevOps platform that allows users to build software with a reduced development lifecycle. Needs to hold 68 area which it tested on 2/13 market downdraft and bounced up.
DV – 4 week ascending base pattern near highs. Develops software platform to provide transparency of digital advertising via 21 offices in 17 countries. 2nd week on list.
NXT – 2nd week on list, pushed up off last weeks list. 3 weeks tight closings after smashing earnings. Provides intelligent, integrated solar tracker and software solutions used in solar projects globally.
TENB – 2nd week on list, SRP got long on pullback last week . Must hold 47. Provides cybersecurity solutions platform in Americas, Europe, the Middle East, Africa, and the Asia Pacific
GSIW – 2nd week on list, SRP position buy ranges 12-14 advised. A highly speculative low floater Post IPO base break . Hong Kong based co provides financial services, asset management through its operating subsidiaries
PRCT – 4 weeks tight near highs. SRP position as of last week. Manufactures medical and surgical equipment focused on the treatment of benign prostatic hyperplasia.
ITCI – 6 week bull flag pullback near highs. Develops small molecule drugs to treat neuropsychiatric and
neurological disorders.
FRPT – 8 weeks tight closings near highs. Manufactures fresh pet food sold via company-owned refrigerators
in over 30,000 stores across North America.
Read up on my various offerings to take advantage of Bull and Bear cycles in the markets below or at Themarketanalysts.com
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The3xETFtrader.com– Swing trading Bull or Bear 3x ETF securities only. Hosted on Stocktwits.com from 2019 to early 2024, and now on our own platform Jan 2024! $395 a year or just $40 per month. A great way to trade bull and bear reversals using my behavioral pattern analysis with a twist! Launched in late September 2019 and have established a strong track record of over 70% profitable trades since inception November 2019!
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 2024 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.
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