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ES Morning Report and Trade Ideas 8.26

ES Alerts and Reports
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Friday notes repeated for reference

I see this at 5480-5440 on a 2nd wave down MINIMAL downside objectives. Maybe we saw small A wave to 5590's from 5662 Wave 1 top.... and a B bounce here, then we SHOULD have another pullback ahead.... 

Now we are…

3x ETF Morning Report 8.26

Morning Reports
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At the Mid July high here this morning on ES Futures, so market MAY be trying to kiss the 5720 July early highs of 2024 here or petering out.  September and October are usually volatile with September being year end for mutual funds as well. Lots of…

3x ETF Alert soxs sell

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Stop 21 on soxs not 22.50





3x ETF Alert 8.23.24

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Chip Stocks  looking for bounce up today and one more leg down potentially

These can move very swiftly in either direction via SOXS (Bear) or SOXL (Bull)

I think a bounce up on SOXL this morning COULD lead to another drop next week if the pattern plays out, but…

3x ETF Morning Report 8.23

Morning Reports
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We may be peaking this week on Wave 1 of 5 waves from 5120 ES Lows in August.  A pullback to 5440-5480 makes sense, low 5597 overnight, 5623 now.

ES 1 hour chart (SP 500 Futures) may have peaked Wave 1 up at 5662 the Mid July…

ES Morning Report and Trade Ideas 8.23

ES Alerts and Reports
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ES 5597 lows 5620 area as of 830 am EST

I see this at 5480-5440 on a 2nd wave down MINIMAL downside objectives. Maybe we saw small A wave to 5590's from 5662 Wave 1 top.... and a B bounce here, then we SHOULD have another…

3x ETF Morning Report 8.22 Thursday

Morning Reports
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 Forgot to  include my wave count chart yesterday so here it is.  We are in Wave 1 of 5 of 5.... it should peak out soon maybe near the July highs.


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ES Futures Link:  5720 uptrend high could be tested? Wave 2 down comes next
Here…

ES Morning Report and Trade Ideas 8.22

ES Alerts and Reports
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ES 5655 area, past a 5645 stop point if you tried a short from 5630 this week

Trade idea from yesterday repeated:
Next move is a pullback to retrace the 5120-5640 (So far) rally

 So wave 1 of 5 of 5 is ongoing, obvious re-test of…

3x ETF Morning Report 8.21 Wednesday

Morning Reports
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This would appear now to be a 5th wave which would eventually carry markets to all time highs, and 5900-6100 on SP 500 is possible further out on this wave.

Markets consolidating gains of late, could still have a mini pullback here soon for 3% or so…

ES Morning Report and Trade Ideas 8.21

ES Alerts and Reports
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ES 5630 area as of 8 am EST Wednesday, not much change from Tuesday

Trade idea from yesterday repeated:
Next move is a pullback to retrace the 5120-5640 (So far) rally

A .382 retrace would make sense, as of now if we are topping out here…

3x ETF Alert 8.20.24

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 YINN

Moving stop near close of trading day lower to 21 from 21.50 noted this morning. Currently at 21.71.

I Re-evaluated the chart pattern and decided to move it about 50 cents below our average 21.50 cost on the final 10% trade position (Sold 1/2 at 23.20 for 8%…

ES Morning Report and Trade Idea 8.20

ES Alerts and Reports
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ES 5630 area as of 9 am EST, uptrend highs 5641

Tight stop on our short took us out yesterday at 5610

Market appears to be closing gaps on upside from the August sell off that was a lot of forced liquidation

New chart and best…

3x ETF Morning Report 8.20.24

Morning Reports
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Markets/Strategy:  New uptrend high in SP 500/QQQ this week as markets push further up the ladder.  The gaps from the selling earlier in August are now filling on the upside. See the QQQ chart.

At this point, it would appear much of this rally followed the forced liquidation in…

3x ETF Alert 8.19.24

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GOLD

Gold is at 2,540 area and my long term forecast is for 3,100.  Near term can work higher yet and push GDX ETF to break out if I'm right to new highs.

NUGT is only a 2x ETF so we do not get as much upside, but I…

3x ETF Morning Report 8.19.24

Morning Reports
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Markets/Strategy:   Futures hit 5590 resistance overnight but still near highs this morning

ES Futures Link:  5590 is the .786 retrace pivot to watch , 5390 could be a pullback point to watch also
Here is a link to use 

Basically still near resistance across the board on QQQ…

ES Morning Report and Trade Ideas 8.19

ES Alerts and Reports
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ES 5584 at 845 am EST

Last Friday's trade idea was short at 5580-5590 with a stop at 5610. So far the high since is 5593 overnight last night

I would maintain the same trade set up today

From Friday:
Pullback likely to 5390's?

Trade Idea:

3x ETF Morning Report 8.16.24

Morning Reports
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Markets/Strategy:   Uptrend highs are meeting resistance

ES Futures Link:  5590 is the .786 retrace pivot to watch , 5390 could be a pullback point to watch also
Here is a link to use 

The ES/SP 500 hit a .786 retrace of the entire decline which is very strong…

ES Morning Report and Trade Ideas 8.16 (copy)

ES Alerts and Reports
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Pullback likely to 5390's?

Trade Idea:

You can short the market near 5580-5590 with a stop at 5610 and a target of 5400

5583 the uptrend high now from 5180 last pivot, possible "Truncated" 5th wave there, was a bullish omen

With that said, I didnt…

ES Morning Report and Trade Ideas 8.16

ES Alerts and Reports
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Pullback likely to 5390's?

Trade Idea:

You can short the market near 5580-5590 with a stop at 5610 and a target of 5400

5583 the uptrend high now from 5180 last pivot, possible "Truncated" 5th wave there, was a bullish omen

With that said, I didnt…

3x ETF Morning Report 8.15.24

Morning Reports
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We pushed past my 5490 this morning on a strong retail sales report.  We will see if it holds or it's a temporary "Throwover" top.  If we keep pushing then the correction was an ABC to 5120 on ES from 5720 and a new Bull Cycle is…