The3xETFTrader

The3xETFTrader

Morning Reports

3x ETF Morning Report 8.29

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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…

3x ETF Morning Report 8.28

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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…

3x ETF Morning Report 8.27

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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 Morning Report 8.26

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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 Morning Report 8.23

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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…

3x ETF Morning Report 8.22 Thursday

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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…

3x ETF Morning Report 8.21 Wednesday

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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…

3x ETF Morning Report 8.20.24

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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 Morning Report 8.15.24

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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…

3x ETF Morning Report 8.14.24

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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…

3x ETF Morning Report 8.13.24

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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…

3x ETF Morning Report 8.12.24

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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-…

3x ETF Morning Report 8.9.24

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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

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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…

3x ETF Morning Report 8.7.24

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Markets continue oversold rally or Wave 4 up of 5 down, or B of A-B-C correction

5360 key to watch on ES futures, currently 5325 area... we made huge profits twice this week going long in a bad market... bear market rallies are fun

Long TNA as…

3x ETF Morning Report 8.6.24

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 Key numbers to watch are 410 area on QQQ plus minus a few, 420 lows yesterday.  Also 5100 on the SP 500 key.  Charts are updated on both this morning for reference.

We had a crescendo of selling and a high VIX 60 reading, typical of short…

3x ETF Morning Report 8.5.24

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Many reasons for the current market sell off, and some things have exacerbated the drop now below 442 QQQ and 5300 SPX this morning as futures tumble
  •  Mercury is in Retrograde from Aug 4th 20 Aug 27th- This will add to confusion, misinterpretation and volatility from…

3x ETF Morning Report 8.2.24

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C wave takes over after 5600 ES hits on the B wave 

Concerns over Mideast Conflict and slowing economy are the excuse but it was a much needed ABC correction

I've talked about 5300 on SP 500, we hit 5310 lows today so far. I've discussed 442…
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