The3xETFTrader

The3xETFTrader

Morning Reports

3x ETF Morning Report 7.22.24

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Markets/Strategy:   

ES Futures 5588 up 34 points this morning from 5553 lows on the pullback. Looks like a 5 wave decline from 5721 to 5556 for A wave, now B up bounce I think, fwiw... then possibly a re-test or lower C wave  yet to come

2 hour…

3x ETF Trade Alert 7.19.24

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Chip Stocks

Taking a bath and working towards a possible SOX Index 5275 pivot here. We can drop another 1.25% or 3.75% on SOXL if that pivot is correct, then possibly bounce up in a counter rally

We can try to play this with entry ranges and a tight…

3x ETF Morning Report 7.19.24

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Markets/Strategy:   Further pullback to testing key areas on Thursday

QQQ tested my 477 area with 465 the other I mentioned and charted on Wednesday morning. Closed at 479, again a possible A wave low with a counter rally

SOXL fell to a low of 49.28, double bottomed and was…

3x ETF Morning Report 7.18.24

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Markets/Strategy:   Strong pullback Wednesday, small caps hold up well though

The chip stocks took a major hit with SOXL dropping 21% in one day from 65 to 51 area. In one of the areas I noted I was watching recently for a pullback, now we can see why it…

3x ETF Morning Report 7.17.24

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Markets/Strategy:       Interesting action as the ES Futures contract hit 5721 and failed, that level is what I was watching to take out cleanly for another possible higher or extended run up in the large caps.  Today futures are down to 5656 which is a large drop off…

3x ETF Morning Report 7.16.24

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Markets:       Market indices consolidating still. QQQ Holding 13 day EMA line (See Chart) which effects our TQQQ 3x Bull position.  IWM ETF has smashed higher to 217 but is extended by any means.  We have a wave 2 to wait on (Pullback wave) before we would look…

3x ETF Morning Report 7.15.24

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Markets:       Futures pushing higher on Monday to 5690 area, uptrend highs are around 5707 from last week.  IF we push over 5720 strongly we could start another run towards my LONGER TERM 6125 SP 500/ES potential.

QQQ hit  503 highs last week, pulled…

3x ETF Morning Report 7.11.24

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Markets:      Inflation report came in very tame and futures are pushing higher. In the ES alerts service we closed a 130 point win going long SP 500.  The Human Behavioral patterns I developed with Elliott Wave and a few other ingredients over the…

3x ETF Morning Report 7.10.24

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Markets:       Nothing has changed lol.  Working towards these targets of 5700-5800 on SP 500 and 510-515 on QQQ

 Action Items:  
  •   SELL TQQQ if $88 hits
  •   NUGT 39.75 stop on final 1/2 near close  
Watching:  IWM/TNA

TNA has lagged obviously…

3x ETF Morning Report 7.9.24

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Markets:       Continuing to work higher towards my 5700-5800 SP 500 targets laid out May 19th and 510-515 QQQ targets possible as well. No net real change on Monday trade.  Earnings should start coming out in full force soon, suspect market is strong for…

3x ETF Morning Report 7.3.24

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Reminder this is my Vacation week I take every year to the Midwest 4th of July week to reunite with the extended family, so timing of reports may be off. Market closed Thursday and Friday likely light trading.

Markets:      ES/SP 500 pushing a…

3x ETF Morning Report 7.2.24

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Reminder this is my Vacation week I take every year to the Midwest 4th of July week to reunite with the extended family, so timing of reports may be off. Market closed Thursday and Friday likely light trading.

Markets:      Consolidation continues, but SP…

3x ETF Morning Report 6.28.24

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Markets:     SP 500 and QQQ hitting uptrend highs as projected, 5700-5800 remains SP 500 target

  Action Items:  
  •   n/a
Watching:  TQQQ

May have missed entry, will be watching though

Positions/Notes:   

SOXL 6/25 - 10% Position,  $58.08 up 8% today as…

3x ETF Morning Report 6.27.24

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Markets:     QQQ at 481, should push to 486.... 510-515 still my target. SOXL could push up here soon...

  Action Items:  
  •  SOXL Alerted at 53.50 area Tuesday to start 10% position, notes below
Watching:  TQQQ

3x Long QQQ I may send out trade…

3x ETF Morning Report 6.26.24

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Markets:     A little bounce up on QQQ yesterday, this could be a B wave rally up after the initial A wave down...  Action Items:  
  •  SOXL Alerted at 53.50 area Tuesday to start 10% position, notes below
Watching:  N/A

Positions/Notes:   SOXL NEW 6/25

3x ETF Morning Report 6.24.24

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Markets:     Consolidating, QQQ could pull back to 470 area from 481... not much has changed in last few trading days including the index charts

Longer Wave count still bullish to 510-515 possible on QQQ. We may get long TQQQ on a bit further drop. …

3x ETF Morning Report 6.21.24

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Markets:     Consolidating, QQQ could pull back to 470 area from 481...

Updated QQQ DailyMonday QQQ Chart repeated for Wave CountETF Action Items:  BITX has hit 37.50 trigger to start position double up this morning

BITX 37.50 hit pre market. Max buy 38…

3x ETF Morning Report 6.20.24

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Markets:    ES Service (ESALERTS.COM) is long from 5520 and we are at 5577. Everyone should join, easy to trade like stocks, tax favorable treatment.

Seeing SP 500 moving to my 5700-5800 intermediately per my May projections still. QQQ ETF can run to 510 area…

3x ETF Morning Report 6.18.24

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Markets:   SP 500 Etc moved up on Monday. The futures service went long at September Futures 5520 when last weeks high was taken out for reference. A larger wave 3 continues. We may get long some Bull index position/s but with different stops set up…

3x ETF Morning Report 6.17.24

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Markets:   SP 500/ES hit my pivot highs on Wednesday this week.  I think we go higher intermediately, watch 5340 on ES Futures as support level, about 70 points below current pricing at 5413

Here is my weekly chart view-  Bullish still, some further pullback possible

3x ETF Morning Report 6.14.24

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Markets:   SP 500/ES hit my pivot highs on Wednesday this week.  I think we go higher intermediately, watch 5340 on ES Futures as support level, about 70 points below current pricing at 5413

Here is my weekly chart view-  Bullish still, some further pullback possible

3x ETF Morning Report 6.13.24

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Markets:   ES Futures hit my 5455 projection yesterday. The ES Service closed out a 110 point futures profit from 5340 to 5450.  This is all my interpretation of Elliott Wave/Fibonacci patterns coupled with a few things I sprinkle in.

So short term both the QQQ…

3x ETF Morning Report 4/19/24

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Markets: Repeating views below 
  • 4963 lows on ES futures overnight, I had projected 4990 yesterday morning in the ES trading service, we went short and made a profit but closed out 5060 before the supposed bombs hit overseas and caused a mini crash. Futures…

3x ETF Morning Report 4/17/24

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Markets: Repeating views below 
  • 4990 SP 500 coming into views, my April 2nd forecast for KEY SUPPORT, below that is 4820-4850 per Monday update  
  • Again, Mercury Retrograde goes until April 25th, lots of confusion during this window on news events etc.
  • Stay patient…

3x ETF Morning Report 4/16/24

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Markets:

 
  • 4990 SP 500 coming into views, my April 2nd forecast for KEY SUPPORT, below that is 4820-4850 per Monday update  
  • Again, Mercury Retrograde goes until April 25th, lots of confusion during this window on news events etc.
  • Stay patient and let the…
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