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3x ETF Alert 8.30.24

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SOX Index-


Chip Stocks may be ready for another leg up as we wind down 3rd quarter and a favorable 4th quarter wall street starts to price in.

SOX chart can potentially rally to the 5800 gap giving us a 45% potential upside. Sounds crazy but just giving you…

3x ETF Morning Report 8.29

Morning Reports
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Markets/Strategy:  

QQQ ETF hit 465 yesterday but now 472.xx pre market on Thursday, so essentially holding that 470 area.  Mid August gap near 465 more or less closed yesterday and NVDA and the ES Futures are ripping back higher after overnight lows last night post NVDA earnings.

The…

ES Morning Report and Trade Ideas 8.29

ES Alerts and Reports
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ACTION ITEM:
Lets move the stop lower to 5640 in the event of a rip to 5720, not expected but this reversal also was not expected

 5620 area at 745 am EST Thursday

5560 lows last night after NVDA earnings but stocks are ripping back higher…

3x ETF Morning Report 8.28

Morning Reports
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Markets/Strategy:  QQQ ETF pulling back to test support short  term. NVDA earnings are tonight so should be a harbinger for tomorrow.
 
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ES Futures Link:  5665 uptrend high so far, 5440-5480 possible next after we peak.
Here is a link to use 
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ACTION ITEMS:   

Double…

ES Morning Report and Trade Ideas 8.28

ES Alerts and Reports
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 5660 is our stop on the short, 5645 area currently,  Objective 5480-5440

 

 

 
 

 

 


 

 

 
 
 




 

 

 


 

 

 
 
 

 



 

 

 

 


 
 


 
 
 
 

 

 


 



ES Trade Update- Stop 5660

ES Alerts and Reports
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5648 area on ES at 1120 am EST

Spidey senses are getting a little bullish right or wrong.

Move stop to 5660 lowered from 5675 on our short position 


TRADE IDEA from Friday still alive, barely... stop is 5675

5440-5480 makes the most sense for…

3x ETF Morning Report 8.27

Morning Reports
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Markets/Strategy:  

Markets still trending near the recent uptrend highs as we prepare to roll into Labor Day Weekend and September window.   

We sold the SOXS for what was actually maybe 4-5% gains, nothing big but I missed the high of the day yesterday to send a sell…

3x ETF Alert soxs sell

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We are up about 7% or so take profits here





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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Markets/Strategy:  

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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Markets/Strategy:  

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…