15 Dec Weekly Elliott Wave Forecasts and Trading Ideas Report
Subscription services for the Active Investor
StockReversals.com Members get an exclusive 25% coupon offer to join our SRP Swing Trade subscription service.
Read up on all 5 Subscription Options at TheMarketAnalysts.Com or bottom of this Report
Weekly Stock Market and Trading Strategies Report Week of December 16th
Recent results and notes:
Continuing to take profits as we have them. This past week taking some gains in PRVB, LTHM, and RDFN.
ETF Service: Took gains on NUGT this past week and are up on our TNA position. We have hit 6 of our last 7 trades for gains.
20% off for my SRP Members… launched just recently on Stocktwits.com. $40 a month less 20% coupon or $32 monthly. We will solely trade 3x ETF Bull and Bear pairs as the market dictates. Read up at The3xetftrader.com Use the Subscribe tab to join off your desktop on Stocktwits and use code “Save20forever” verbatim to get 20% off for life.
Short Term and Long Term Elliott Wave Views for the SP 500 Index
Short Term: As called last weekend, wave 4 bottom price came in at 3070 and we rallied to all time highs again in Wave 5 up of Intermediate Wave 3. This could extend to 3230-3270 ranges short term as the Santa Rally continues.
Long Term: (Wave 3 of Intermediate 3 of Major 3). The long term Primary Wave 5 up from Feb 2016 lows continues, we are in Major Wave 3 up from the 2345 lows of Major 2 in Dec 2018. We continue up in Intermediate Wave 3 of Major Wave 3 of Primary 5, this could extend to 3270-3350 area eventually before completed… see updated chart
Long Term View: Int 3 of Major 3 underway to over 3200 likely
5th wave of Intermediate 3 underway from 3070…
Click to Enlarge
Short Term View: Wave 5 of 3 continues higher
Wave 5 continues of 3 of 5… Looking at 3250 area loosely as possible, but one week at a time.
Click to Enlarge
Market Notes and Indicator Charts:
- Santa rally should continue higher, led by Biotech
Weekly ideas and tips on Swing Trading Success: Keeping your mind quiet, trust the process
I cover behavioral patterns in the markets and tend to ignore the other noise like interest rates, recession fears, and CNBC jargon and jabber. Keeping your mind quiet and focused is best. You cant chase every stock or sell and buy every 20 minutes and get any clarity in my opinion. Focus on 3-6 positions at a time in general which is what we do at SRP and keep an active watch list so you are ready to close out one and move into another as well. That said, take your time, take trading breaks, and follow the market paths I lay out. Trust the process, but make sure you have one… I do.
Swing Trade Candidates: A list of ideas to consider
This week as usual we have an updated list of some ideas for the intermediate window. We issue official alerts to SRP members via Text and Email and Post and they may or may not come off this list.
CDLX- CHART LINK
Back on the list, now in a 5 week tight base near highs. Develops a purchase intelligence platform for for marketers of debit cards etc.
DOCU- CHART LINK
4 week base near highs. Provides E Signatures solutions for contracts etc. (Docusign)
EVER- CHART LINK
6 week overall base near highs, has been on list recently. Online exchange/marketplace for insurance products.
STNE- CHART LINK
4 week corrective base near highs. We played this a few weeks back at SRP for nice gains. FINTECH solutions in Brazil, a Warren Buffett top holding too.
RDFN- CHART LINK
A current SRP position, we took 1/2 gains this past week at 8% or so. Looks ready to spike higher though.
PING- CHART LINK
4 week POST IPO consolidation near highs. Provides intelligent identity solutions for secure access to various solutions.
DT- CHART LINK
4 week POST IPO Corrective pattern. Develops software intelligence platform to allow customers to modernize and automate IT operations.
MHO- CHART LINK
8 week base, builds single family homes. Near 52 week high breakout. 3rd week in row on list.
SEDG- CHART LINK
Up 7.5% last week off our list, still looks good, 19 Week base overall, supplier of DC Optimizer inverters to solar industry, 3rd week in row on list.
EDU- CHART LINK
Now an 8 week base near highs for Chinese Education provider. We had this on the list weeks back and it broke out, but now building another base. 3rd week in a row on the list, consolidated last week in the range.
CARG- CHART LINK
5 week corrective base, testing 13 week EMA line this past week. 3rd week in a row on list. Pulled back last week to where I projected this past Sunday (Dec 9th report) Online automotive marketplace provider.
VGR- CHART LINK
14 Week base near highs, Cigarette maker. 3rd week in a row on list. Pulled back a bit this past week, but as long as 12.25 area holds on a closing basis this is normal consolidation action.
ELY- CHART LINK
10 Week base, golf equipment maker. 3rd week in a row on list, still consolidating.
MOMO- CHART LINK
6 weeks corrective pattern pattern near 52 week highs. Chinese provider of mobile based social networking platform, growing rapidly at reasonable PE ratio. 4th week in a row on list. SRP current position.
SNBR- CHART LINK
9 weeks tight base not far from 52 week highs. Reasonable PE ratio. 579 Retail stores offering sleep number bedding. 4th week in row on the list.
Read up at TheMarketAnalysts.com for more details
The3xetftrader.com now launching with service hosted on Stocktwits.com. Launched on 9/16/19 ! Use COUPON CODE “Save20forever” (Case sensitive) for 20% off .
We have hit 5 straight trades over last two weeks through 12/1/19 for gains of 8%, 9%, 8% and so far 8% and 7%, pays for itself!!
We are trading 3x ETF pairs in Bull or Bear movements based on my Elliott Wave analysis and more.
We offer five different subscription services for our Members, helping you cover the gamut of SP 500 futures trading with tax favorable treatment, Long Term Growth Stocks, Swing Trading Stocks and ETF’s, 3x ETF only Swing Trade Service on Stocktwits.com, and Auto-Trade execution service for SP 500 futures trading.
StockReversalsPremium.com– 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 since inception September 2013!
The3xETFTrader.com – 3x ETF bull and bear leveraged swing trading using my Elliot Wave and behavioral pattern analysis.
$40 a month and only $32 using code Save20forever on stocktwits! Consistent profits without single stock risk!
Tippingpointstocks.com– Growth Stocks with 50-200% upside with our proprietary research! We cashed out on SOLO for over 200% gains in 5 weeks! SOLY recently up 400% in 10 weeks.
E-Mini Future Trading Service -Hosted on Stocktwits.com trading the ES Futures contract (SP 500)
Up over 355 points since Inception late October 2019. Thats a 155% annualized gain!!
Daily 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 our market map models and then translates that to Futures Trading advice and alerts. Short term and long term views…morning updates, trades and more.
Join for $50 a month! Use coupon code SAVE20 to try for 20% off.
ESAlerts.com – Auto-Trading SP 500 Futures Service
Launched in late January 2019 for those who are too busy to wait for alerts to buy and sell and want us to handle executions for you with our Trading Firm in Chicago.
Contact Dave with any questions (Dave@Themarketanalysts.com)