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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…

ES Morning Report and Trade Ideas 8.15.24

ES Alerts and Reports
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  5515 on strong retail sales report, past my 5490

A better-than-expected U.S. retail-sales report was helping stock index futures build on their earlier gains on Thursday as investors digested a fresh batch of economic data.

Retail sales grew 1% in July, topping expectations for 0.3%…

3x ETF Morning Report 8.14.24

Morning Reports
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Yesterdays note repeated for reference
 I had a high end 5490 target last week for this rally leg once over 5360.  Markets happy with tame PPI report this morning. The rally leg is extending and could again be a B wave of an A B C Correction…

ES Morning Report and Trade Idea 8.14.24

ES Alerts and Reports
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  5460 at 815 am EST, High 5463

So my 5490 projection looks good.  I would be out of the trade here soon if long if not already

Short at 5485 limit with stop at 5510 is today's advisory. I will update from there

Should be…

3x ETF Morning Report 8.13.24

Morning Reports
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Yesterdays note repeated for reference
 I had a high end 5490 target last week for this rally leg once over 5360.  Markets happy with tame PPI report this morning. The rally leg is extending and could again be a B wave of an A B C Correction…

ES Morning Report and Trade Idea 8.13.24

ES Alerts and Reports
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Yesterdays alert the actual price at time of this post was 5361 as I had accidentally quoted the 15 minute delay price.  With that said, we hit 5347 at 855 am, so if you were fast and took the trade idea, you stopped out pretty fast…

3x ETF Morning Report 8.12.24

Morning Reports
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Futures have risen above bounce highs of 5360 now, this means a further rally to as high as 5490 on ES futures is possible for Wave B up of A B C correction... but one day at a time, the market likes to surprise often during August-…

ES Morning Report and Trade Idea 8.12.24

ES Alerts and Reports
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5385 area 845 am EST

Bullish to 5490 over 5360 as noted last Friday

I would go long here , add again at 5370 plus minus a few

Stop at 5350

Target 5435 to sell 5480 to sell if aggressive but watch the tape closely don't…

ES Chart

ES Alerts and Reports
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ES Morning Report and Trade Ideas 8.9.24

ES Alerts and Reports
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Bottom of report repeats Thursday notes on purpose... over 5360 very bullish

ES 5340 up from 5180 lows mid week overnight, this is bullish for now as noted yesterday if over 5290's...

BUT... still at resistance...

If we get over 5360 this weeks highs, the market…

3x ETF Morning Report 8.9.24

Morning Reports
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NOW WHAT??

There is almost always a 5th wave in a 5 wave decline that tests the lows of wave 3 or lower... on the rare cases where it doesn't, it can be a bullish sign.  With that said, we have levels to watch for everyone market…

3x ETF Morning Report 8.8.24

Morning Reports
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5360 was hit on ES Futures on the nose yesterday , an area I said to watch. I advised members of ES trading to short at 5355, then futures fell 170 points to 5180, now 5260

This 5180 area is key support now on ES Futures (SP…

ES Morning Report and Trade Ideas 8.8.24

ES Alerts and Reports
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5268 area 9 am EST

 Markets are behaving spot on with Elliott Wave projections I'm making this week. 5130-5150 lows, a peak prediction of 5360 hit on the nose yesterday. I advised to short at 5355 area, it dropped to 5180 last night, now its 5260…