04 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 5th 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 broader markets continues. We had a little pullback on FOMC day but those days tend to be very whipsawed if you will every month. Facebook (Meta) and Amazon had strong earnings, Chip stocks corrected but were bouncing late in the week as well. My SP 500 4900 forecast was made on Nov 13th and finally hit with a 4975 this past week closing at 4958 on Friday. I also upped my intermediate target many weeks ago to 5200 which remains in play.
We are long SPXL and SOXL 3x Bull ETF in The3xETFTrader.com service.
CHARTS: $SOX and $SPX
$SOX Semiconductor Index Consolidating but likely works higher yet, SP 500 also working higher
SP 500 5220 target
Semiconductors:
Trading Results: Stocks, 3x ETF’s, and SP 500 futures services
In the 3x ETF service we maintain long positions in SOXL, SPXL, YINN looking to add, and TNA looking to add. We are waiting on LABU to hit our entry targets before considering a long position.
SRP stock swing trade service is long 5 positions and took 13% profits on our S final 1/2 position. The futures service got long ES at 4880 and closed out at 4930 for 50 points profit and we re-entered late in the week again.
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.
In addition to being a member of various services, you can follow my comments during the week:
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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
2/4/24 Updated list and updated notes on older names as well- GCT Ripped big for SRP off last weeks swing trade ideas list, we sold 1/2 for profits per rules.
Click on Symbol to see Chart for each Stock listed
XP – 7 weeks consolidation near highs. Brazil-based Company provides securities brokerage, low-fee
financial products and advisory services.
GTLB – 3 week ascending base near highs. 2nd week on list, ripped higher off the list 3 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.
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
S – 6 week overall base, SRP made profits already but this is still attractive for a further breakout. Provides AI-powered XDR platform to autonomously prevent, detect, and respond to cyberattacks
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.
STNE – 6 week base near highs, current SRP position we sold 1/2 last week for profits on the pop. Brazilian company provides financial technology solutions for merchants and integrated partners.
GCT – Back on the list, we made profits on this twice at SRP last few weeks but still looks good. Hong-Kong based global trade service company provides B2B eCommerce platform.
INTA – Breaking to the upside on a right side of a deep post IPO base. Provides cloud-based and AI-powered software solutions for the professional and financial services industry. Turned profitable last quarter.
ALKT – We made profits on this at SRP but still attractive here near 25. Offers a cloud-based platform that delivers digital banking solutions to U.S. banks and credit unions
IOT – 10 week base pattern. Provides an end-to-end solution that allows businesses that depend on
physical operations to harness IoT data
ITCI – 5 week bull flag pullback near highs. Develops small molecule drugs to treat neuropsychiatric and
neurological disorders.
PCOR – 6 week base near highs. Provides cloud-based software for modernizing and digitizing construction management.
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
We offer 4 different subscription services for our Members, helping you cover the gamut of SP 500 futures trading with tax favorable treatment, Long Term Growth Stocks, Stock Swing Trading, and Growth Stocks with 50-200% upside plus.
Read up at TheMarketAnalysts.com for more details Track Records available for all services!
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.
E-Mini Future Trading Service ESALERTS.COM $50 a month on Stocktwits from 2018-2024, now on our own platform along with 3 x ETF service!
SP 500 Futures Trading Advisory service. Formerly 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.
Contact Dave with any questions (reversaltraders@gmail.com)
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