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3x ETF Morning Report 4/1/24

Morning Reports
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Markets:
Bitcoin pulling back some this morning, but still in a grinding 8 day base pattern.
SP 500 likely works a bit higher along with NASDAQ 100 etc in early April.

3x ETF Positions/Notes:

BITX long 10% position from 43.75, now 51.69 area, Target 59…

ES Morning Trade Update 3/28/24

ES Alerts and Reports
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ES 5309 - Long 5275 avg,  Target 5330 to sell, Push stop to 5295

End of quarter is today, so I am not clear on if we get a little profit taking to start 2nd quarter or we push higher.  Long term I'm now at 5645 for SPX target as  a reminder.

So lets push the stop to 5295 to protect a 20 point profit there, and otherwise if we see 5330…

3x ETF Morning Update 3/28/24

Morning Reports
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Markets
 
Small caps took a big move up yesterday and SP 500 and DOW moved higher etc.  Again, we are long in the ES Futures service for a push up this week into quarter end I expected.

3x ETF Positions/Notes:

BITX long 10% position…

3x ETF Alert Double Up

Trade Alerts
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Removing $51 near close of market protective stop on BITX

Bitcoin is pulling back and so far this is normal. After BITX hit near 55 this morning we were WAY up from 43.75 entry on 10%

As noted this morning, I was inclined to add…

3x ETF Morning Update 3/27/24

Morning Reports
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Markets
 
Consolidating near highs into end of quarter window, not much else to add. Could see QQQ ETF break out further, hence our TQQQ alert yesterday.

3x ETF Positions/Notes:

BITX long 10% position from 43.75, now 52 area, Target 59, Stop now 51 near…

ES Morning Trade Update 3/27/24

ES Alerts and Reports
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ES 5294- Long 5275 avg, Stop now 5260, Target 5330 to sell

Hit 5264 lows yesterday and now near 5288. Maintain long with same 5330 profit target.

3x ETF Alert

Trade Alerts
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This pattern in the QQQ appears bullish to me, a 13 day consolidation within a near 4 week consolidation.  If we are going to move up one more level, it's probably pretty soon.

TQQQ - 62.60

10% scale in position, Profit target is 9-15% from current levels 62.60

Parameters:

Max Entry 63 possible adds to 61.25 on dip near term
No Stop yet
Target 68.25 to 72

3x ETF Morning Update 3/26/24

Morning Reports
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Markets
 
We got long in the SP 500 Futures (ESAlerts.com) service yesterday at 5275 average, now 5294, with a 5330 profit target for reference. My call is for one more push up into end of quarter here.

3x ETF Notes:

BITX long 10% position…

ES Morning Update

ES Alerts and Reports
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ES 5294- Long 5275 avg, Stop now 5260, Target 5330 to sell

Dipped post alert to 5272-5273 yesterday inside my 5270-5277 buy tranche ranges given.

Lets leave that alone and look for 5340 possible target ranges, I would take profits at 5230 though...

Stop is…

ES Trade Alert

ES Alerts and Reports
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ES 5277

Pulling back  from 5322 Post FOMC Highs now

Recall I had suggested a short at 5280-85 or so with a tight stop at 5300 last week

Normal resistance here at 5280 area per my targets I had out several weeks ago

So how to play it?

Could still push a little higher into quarter end, my gut though is still calling for correction in April

Suspect one more push higher…

3x ETF Morning Update 3/25/24

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Markets
 
 SP 500 Futures hit 5320 area highs last week post FOMC, now about 5277 so a pullback was due. Was that an interim top? Well we hit 5261 on the SP 500 Cash and my target was 5220, so anything above that is…

3x ETF Alert

Trade Alerts
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TNAI would like to see this have a normal pullback, maybe it's early next week. 39.50 would make sense, but I do not want to be too cute trying to pick an exact bottom to wait.

Trade Parameters-  WAIT for $40, May adjust later

3x ETF Morning Report 3/22/24

Morning Reports
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Markets
 
I will not beat this to death but extended here a little short term for sure, although markets broke out of 4 and 7 week ranges on SP 500 and QQQ this week. Also end of quarter likely to mark up strong overall…

ES Update

ES Alerts and Reports
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Wave 3 powers past 5280 and I tried a topping short area but stopped us out at 5300

5313 now- 1 hour chart POST FOMC Smash...
Where do we go from here?

Again this SPX chart below shows where loosely Wave 3 equals Wave 1... typical slow down point (5280 ES)
Market is extended here but in…

3x ETF Morning Report 3/21/24

Morning Reports
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Markets
From Yesterday Morning Notes:   "Right now we are nearing my 5220 SP 500 target, QQQ could still squirt higher on one last push into late March.  It's also end of quarter window dressing for money managers and they want a good quarter to…

3x ETF Trade Alert

Trade Alerts
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Bitcoin Play- Charts below then commentary

Long Term Monthly Chart running into resistance, pullback is normal here
Weekly chart shows possible Wave 4 38% retracement after huge run, this is part of a larger 5 wave larger Wave 3...  75k target would be the lower…

ES Update and Trade Idea post FOMC

ES Alerts and Reports
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From yesterdays Trade Idea:

5199 ES Futures June

Short at 5211, Stop at 5225
Target 5161 but will update

Could push a bit higher.  Caveat is FOMC rate decision and notes are due at 2pm EST tomorrow, always a VERY volatile time to trade that I prefer to avoid, but if we get short stop is tight

Post Mortem:  We hit my 5211 entry, stopped out quickly at 5225 and then hit…

3x ETF Morning Report 3/20/24

Morning Reports
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 Markets
SP 500 in 4 week consolidation range.  QQQ in a 7 week base pattern.  Today is FOMC rate decision and at 230pm Powell will have some commentary. Frankly I don't usually pay much attention to this as the market usually reacts for a day…

ES Update and Trade Idea

ES Alerts and Reports
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5199 ES Futures June

Short at 5211, Stop at 5225
Target 5161 but will update

Could push a bit higher.  Caveat is FOMC rate decision and notes are due at 2pm EST tomorrow, always a VERY volatile time to trade that I prefer to avoid, but if we get short stop is tight

3x ETF Morning Report 3/19/24

Morning Reports
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Got my B.R.A.T diet set up and some meds for the stomach, so lets get to it...

Markets
SP 500 in 4 week consolidation range.  QQQ in a 7 week base pattern. Chip Stocks down 11% or so from highs, were the most extended, could…