29 Oct 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 October 29th 2023
StockReversals.com Members get an exclusive 25% coupon offer to join our SRP Swing Trade or Momentum Growth stock TPS subscription services. All memberships and or casual readers are subject to our Terms of Service Agreement
Read up on all 4 Swing Trading and Long Term Research based Subscription Options at TheMarketAnalysts.Com or bottom of this Report
Bill L. Member of multiple services
“By the way I want to thank you once again for the amazing service you are offering…Have been a member of SRP for more than 4 years and I really have no words…only huge respect and gratitude…my account keeps growing steadily and consistently…it’s really a blessing for me and my family…The 3xETF service is a huge additional value to my portfolio and I plan to join more of your services very soon…”
–Peter Brandt, CEO, Factor LLC #10 2017 Twitter Favorite Traders Poll and Top Ranked Commodity Trader“David, you are, without a doubt, one of the best if not the best Elliott Wave guys I am aware of” 8/30/17
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: 5 waves down and new lows last week
Rough time in the market as soaring interest rate yields and uncertainty continues to take toll. This is also October which in a down market can cause even more selling due to Mutual Fund year end tax based selling. 4100 area on the SP 500 is key level to watch near term.
Trading: Chinese selected names, Tankers-Shipping two of the better sectors and SRP has focused on both of late
In the SRP stock swing trading service (Since 2009) we have gone extremely slowly with new position swing trade alerts the last two weeks. A few weeks go in the last weekly report, I noted we sold out of high fliers into a mini market rally. That turned out to be a shrewd move in hindsight. In fact, only 2 new positions have been alerted since October 17th and both were late last week after most of the recent downdraft. We have continued to do well focusing on relative strength leaders and Chinese based plays that we cashed out of on some large moves up recently. Some of those are now correcting hard after we sold, EDU however had a sharp move up on earnings this week and we still have a few fresh names consolidating in that sector.
SP 500: 61% retrace of March lows to July highs met on Friday last week
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.
Consider joining my 3x ETF Swing Trading room on Stocktwits, gives you very nice exposure to sector swings based on human behavioral patterns. Removes single stock risk and gives you a better upside beta and lower risk with your overall trading plans (SRP, 3x ETF, Futures etc)
Consistent trading income in ALL market cycles using Bull or Bear 3x ETF’s and my human behavioral pattern analysis. Strong 70% plus success rate historically and better in 2023.
Just $40 a month and worth it to add to your stock swing trading
Futures service is also on Stocktwits and just $50 a month, huge profits last several weeks.
Members of all the premium services are updated daily on market maps and forecasts and we strategize accordingly.
In addition to being a member of various services, you can follow my comments during the week:
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
10/29/23 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
FUTU –7 week consolidation. Needs to hold 56.15 area, 5th week on list. China based company operates as a holding company that offers an online brokerage platform
MNSO – (China Retail) 6 week consolidation near highs. China based Co operates 5,200 stores located in 80 countries and
regions under the brand name MINISO. PE 31 Strong 100% YOY growth in EPS.
INSW – (Tankers shipping) Breaking out of cup and handle weekly base to interim highs. Provides transportation services of crude oil and petroleum products with a fleet of 74 vessels.
PDD – Another strong China name. Chinese provider of third-party mobile e-commerce platform (TEMU) for
buyers with merchandise shopping experiences. Needs to hold 96
OLLI – (Discount Retail) Flat multi week base near highs. Operates 468 Ollie’s Bargain retail outlets in 29 states and offers a broad selection of brand name
TNK – (Tankers Shipping) Broke out of 8 month base to new highs last week. Provides international crude oil and petroleum product transportation services with a fleet of 43 owned
EDU – 10 week base near highs. Reported strong earnings and spiked just over 70 before pulling back to 65 area late in the week. Former SRP position recently which we sold higher. Chinese provider of language training & test prep courses to 3.7 mil students via 107 schools/637 centers. 56.60 key to hold on pullbacks
ZS – Back on the list again. Needs to hold 155 area. Operates a massive, global cloud security architecture, delivering the entire gateway security stack
PR – 7 week overall base. Needs to hold 13.60 area. Focused on acquisition/optimization/development of oil and liquids-rich natural gas assets in TX, Permian.
PRDO – 13 week ascending base near highs. Provides post-secondary education for about 39,200 students via
campuses in the U.S. PE 9. Recent strong earnings winners in this sector last week bodes well.
FRO – 5 week ascending base near highs. Current SRP position as of late late week. Has been on list a few weeks. Provides tanker transportation services of oil and oil products through a fleet of 70 vessels. Hit 52 week highs on Friday for SRP, but still attractive.
YY –6 week base consolidating near highs. PE 12. Chinese provide online voice and video communications services, social networking services and online games. 2nd week on list. Needs to hold 37. Current SRP position
HNRG – 5 week base near highs. Back on list. Needs to hold 13.50 Engaged in coal mining primarily in the Carlisle underground coal mine in western Indiana.
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 for 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 2023 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
SP 500 Futures Trading Advisory service. 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 (email@example.com)