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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-…

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…

3x ETF Morning Report 8.7.24

Morning Reports
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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

Morning Reports
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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

Morning Reports
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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

Morning Reports
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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…

3x ETF Trade Alert 8.1.24

Morning Reports
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  Rough day for Tech stocks, they fell off a bunkbed. I had discussed 442 on QQQ as eventual bottom and 5300 on SP 500 and we are still well above both, but thought the bounce may push a bit higher before a retest

We are getting a SOX…

3x ETF Morning Report 8.1.24

Morning Reports
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B wave up continues in SP 500, QQQ etc and IWM ETF is breaking out strongly.

ES service had guidance to look for 5590-5600 on ES futures this week and we hit 5598 highs so far, filling a gap above in the chart.  If ES can get…

3x ETF Morning Report 7.31.24

Morning Reports
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Huge double bottom in both SOX Index and SP 500, QQQ etc may have hit yesterday. NVDA and AMD up big pre market, SOXL up 12% pre market from low's in 36.80-37.50's yesterday.

QQQ has not yet hit my 442, and SP 500 has not yet hit…

3x ETF Morning Report 7.30.24

Morning Reports
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 Markets pulled back some more on Monday.  I have some updated "Potential" QQQ ETF and SP 500 charts.  We can still look for potential to 5300 on SP 500 and 442-445 area on QQQ (464 now).  Not necessarily in one week but over the intermediate window.  August-September-October…

3x ETF Morning Report 7.29.24

Morning Reports
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5520 on ES Futures, I noted 5550 possible bounce last Friday when we were at 5480... tech stocks bouncing as well, many of the SRP stock swing positions are pushing up as well here.  

5610 area on ES possible HIGHER bounce point but I'm still watching…

3x ETF Morning Report 7.26.24

Morning Reports
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Markets/Strategy:  Some set ups emerging?  

 Futures bouncing up off my 5450 targets I put out earlier this week for ES... we could push back to 5550 resistance, currently around 5480

SOX Index may have bottomed out Thursday morning right near the charting areas I gave out recently here…

3x ETF Morning Report 7.25.24

Morning Reports
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Markets/Strategy:  GOING SLOW FOR NOW

5450 was the low so far from 5721 on ES (SP 500) overnight/yesterday.  In the ES service yesterday we were at 5560 in the morning and I said to watch for possibly 5450 if 5553 lows broke , which they did

This is still…

3x ETF Morning Report 7.24.24

Morning Reports
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Markets/Strategy:  GOING SLOW FOR NOW 

The bounce so far off the initial drop from the uptrend highs was limited to just over a .382 retracement bounce, which is shallow. This has led to the futures down this morning, perhaps TESLA not helping pre-market.  Testing the lows now at…

3x ETF Morning Report 7.23.24

Morning Reports
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Nice bounce up in ES (SP 500 Futures) to .382 retracement or 5616 from 5553 lows of the A wave down... often you get an A down, B bounce up, then a C down to test the prior lows or lower... so loosely that is what I…

3x ETF Morning Report 7.22.24

Morning Reports
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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

Morning Reports
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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

Morning Reports
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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

Morning Reports
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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…