26 Nov 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 Nov 27th 2023
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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 and weekly swing trade updated ideas list is at bottom of this report
Markets and more:
NYSE (n) – 85 New Highs, 3 Lows
NASDAQ – 82 New Highs, 18 Lows
AMEX (a) – 5 New Highs, 5 Lows
Two weeks ago in our last weekly report I discussed Semiconductors as likely to work towards summer highs. They got within about 1% or so and have pulled back a bit recently but had a huge run off the October lows. In the meantime we have extended rallies on the SP 500 and QQQ (Nasdaq 100) see the charts for reference. I maintain my new 4900 intermediate SP 500 target and also further out we can see possibilities of 5200 as well behavioral pattern wise. Gold looks poised to break out of a monthly base pattern and I continue to stay bullish on several China growth plays.
Trading: Stocks, 3x ETF’s, and SP 500 futures services
We have taken some nice profits in the SRP Swing Trade service of late and many stocks are a bit extended but since we entered at lower risk levels and sold 1/2 when we were up 6% plus as always, we are in the clear holding some names like PDD, TGTX, FRO and a few others. TGTX we are long from about $10.70 and the stock is nearing $13 right now on the back half of our trade. PDD we had a 121 target from 108 and that is getting close as well, and FRO looks poised to break out soon. Looking to add new positions this week.
The 3x ETF service (Just $40 a month and 70% plus success rate since 2019 inception!) focused on buying big dips in the Gold stocks a bit ago via NUGT and that is playing out in our favor nicely along with LABU in the Biotech sector which we doubled up on mid week this past week. We see that one climbing quite a bit potentially but we are already up about 12% on a full 20% allocation and will monitor as always. We also like ERX in the Energy sector and are holding that, and we started an initial position in TNA (Small Caps) late last week.
In the last update weekly report I discussed the bullish reverse head and shoulder pattern and that has played out for another 150 points on the upside.
SP 500 a bit extended now
QQQ ETF: Testing July highs, expecting resistance at 406 at some point but can work higher later
GOLD- Long NUGT in the 3x ETF service, Looks like a Gold Breakout soon?
Trading Results: See full SRP Stock Swing Trade results 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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- Stock ,ETF , and SP 500 Futures Swing Trading plus Growth Stock Investing options for membersRead up at TheMarketAnalysts.com for all Advisory Subscription Services and Track Records It’s best to belong to three or four of my subscription offerings at the same time to have the most opportunities across all market conditions with multiple shots on goal! Asset allocation as a Trader is key for long term success in all environments– Dave
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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
11/26/23 Updated list and updated notes on older names as well- – “Needs to hold” pricing given due to difficult stock market of late
Click on Symbol to see Chart for each Stock listed
DUOL – 3 weeks ascending base at highs. Designs and develops digital a language-learning education platform,
suggests lessons in multiple languages. Already reported very strong earnings.
ALKT – Has been on list a few weeks and moving up, A little extended, needs to consolidate some. Offers a cloud-based platform that delivers digital banking solutions to U.S. banks and credit unions
SKWD – 10 week overall base and recent 3 weeks tight closings pattern. Offers commercial property and casualty products and solutions predominantly in the U.S.. 2nd week in row on list.
AMPH – 2 weeks tight closings near recent highs, but has room to move yet. 2nd week in row on list. Strong earnings report Still room to run on weekly view. Products include the Primatene Mist asthma inhaler and just reported 203% surge in earnings from the year ago period. Sales jumped 50%.
LI – Chinese automaker, forming right side of base pattern but still about 15% off the highs.
NVO – Looks poised to continue a break out of recent 7 week base to further highs. Denmark-based developer of insulin analogues, human insulin, and oral antidiabetic drugs for diabetes care.
IMGN – 2nd week on list, started moving up last week after odd pullback recently on good news. 4 month flat base not far off highs. Tight range. Develops therapeutics using proprietary technology to deliver a cytotoxic agent to cancer cells. Ovarian cancer product smashing estimates.
FRO – 5 week base near highs. Current SRP position and has been on list a few weeks. Provides tanker transportation services of oil and oil products through a fleet of 70 vessels. A little pullback this past week with energy stocks. Looks poised to break out. Earnings due 11/29
MMYT – Was on list recently, broke out and pulled back a bit which is normal. Strong growth. India-based provider of online travel services primarily for individual travelers via www.makemytrip.com.
IOT – 12 week corrective base, starting to turn up. Provides an end-to-end solution that allows businesses that
depend on physical operations to harness IoT data. Earnings due 11/30
PINS – SRP position 4 weeks tight base near highs. Broke out of 13 week corrective pattern 4 weeks ago on strong earnings. A lot of digital content creators are using their platform for E commerce etc. Provides a visual discovery platform that helps users to discover ideas for various projects and interests
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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
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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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