22 Mar Weekly Market Forecasts and Bear Cycle Updates Report
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Weekly Stock Market and Trading Strategies Report Week of March 23rd
- 5th and Final wave down underway- See projections
- Only 4% of stocks trading above 50 day MA lines, historic lows or close (Bullish)
- Investment Advisors go from 23% Bearish to 34% Bearish (Bullish or close , prefer 40% reading)
- Final 5th wave down underway to Cycle Lows (See charts and projections)
- Gold bottomed at 1450? See Chart
- Swing Trade ideas, last week had multiple winners
Recent results and notes: Stock ,ETF , and SP 500 Futures Swing Trading Results
Read up at TheMarketAnalysts.com for all services and Track Records
Smashed with great returns this past week in all services. We came into the week at 100% cash at SRP Swing Service, we alerted ZM on Monday morning and it was the #1 performing IBD 50 stock last week, we made 9% and 17% on each 1/2 of the trade. We alerted a second stock during the week, and a Bear 3x ETF late on Friday that is up 8% already. In the 3x ETF service we made 6% and 27% on two closed trades, and are up now 8% on a Friday entry, and in the E Mini Futures service we hit for a 107 point win early in the week (107 x $50 for each E mini Contract).
3x ETF Service on Stocktwits.com : Track Record is online, join for just $40 a month and pull more money from the market bull or bear with my Behavioral based and contrarian approach to 3x ETF trading! We 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
SP 500 Futures Services: Auto-Trade platform at ESALERTS.Com or join the Trading Room and do it yourself with my alerts on Stocktwits.com
General Market Summary:
We hit a low of 2280 on the SP 500 this past week, and 2262 on the ES Futures. The market was sinking with the start of Wave 5 on Friday in my opinion to new lows likely.
We should wash out between 1930-2135 on the SP 500 and Members will be advised daily in all services with updates.
After this 5th wave completes, we should get a longer length relief rally. We may see the initial Bear Cycle lows by the end of this coming week, with April possibly being positive.
A few notes of optimism:
Historic readings continues, the worst crash on a relative basis since perhaps 1987 and or 1929. The market is trying to price in the economic impact over a few quarters from this health disruption to the economy. That is difficult so usually sell first and ask questions later mentality prevails.
I believe we are in Wave 5 now from 2467 SP 500 4th wave highs this week, and that started on Friday. I warned members of my services to be careful and look for more downside, and we positioned accordingly on Friday.
Keep your eyes on various pivots for the SP 500 to hold, those are 2135-2150, 2050, and 1930 areas. Those are all relationships to Wave 1 which was from 3393-2855. Often Wave 5 is the same length as Wave 1, sometimes shorter and that is how I derived those figures.
The Percentage of Investment Advisors did rise to 34% Bearish this past week from 23% last week. I said in this column last weekend I wanted to see that heads towards 40%. We will possibly get there this week and that is another bottom signal.
Again, follow my lead on Twitter @stockreversals, on Stocktwits @stockreversals for commentary and or in my subscription services to stay up to speed daily.
Charts tell the story:
SP 500 in 5th wave down from 2467 4th wave pivot high this week. Watching that 2135-2150 area loosely initially, with pivots at 2045 and 1930
Weekly Chart shows Wave Count and Blue Shaded area to look for washout low possibly this week
% of Stocks above 50 day moving average plunging to under 4%, a multi year low. Worst than last two bear lows.
Gold hit the 5th wave peak area I projected a few weeks back at $1700, could hold the line at $1450
NASI ratio at -1350, worst reading than last two Bear cycle lows in 2016 and 2018
Swing Trading Ideas: Last week we had multiple winners during the week. ZM (Zoom Video) was the #1 performing IBD 50 stock and only NYSE stock to hit a 52 week high last week. We alerted it at SRP swing service and banked big gains. Also Clorox, Peloton, Netflix among winners off the list.
This week a few new ideas and some repeats to consider (We may or may not alert some of these at our SRP service)
GSX, DPZ, ZM, WMT, REYN, DOCU, CCOI, UBER, ZTO are a few ideas. Broader market if it bottoms on my call, SPXL ETF, TNA ETF, NUGT ETF etc… but have to wait for my signal
A few charts and notes:
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