The3xETFTrader

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Morning Reports

3x ETF Morning Report 4/10/24

Morning Reports
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Markets:

Hot Inflation report pushes SP 500 futures back to 5200 support zone this morning. Bitcoin pulling back some more as well from this weeks Monday morning smash higher. 

3x ETF Positions/Notes:

  •  BITX $47.88 down pre market, down from $55 highs early Monday morning.10% Remainder…

3x ETF Morning Report 4/9/24

Morning Reports
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Markets:

Consolidation

So far its a 5 wave running sideways correction for QQQ ETF as noted in chart. These can go 5, 7, 9, 11 waves long... or they fail and we go south. 3x ETF Positions/Notes:

  •  BITX 10% Remainder from 20% original, avg is…

3x ETF Morning Report 4/8/24

Morning Reports
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Markets:

ES 5200 TESTED
 
SP 500 Futures at 5251 essentially unchanged but bouncing up from the 5200 key support level I noted last week.  Bitcoin on fire, 72,600 and BITX is nearing 54.75 ranges up huge. Biotech MAY have bottomed last week, hit our…

3x ETF Morning Report 4/5/24

Morning Reports
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Markets:

ES 5200 TESTED
 
5200 on the S&P 500 futures currently being tested that was a number I put out I believe last week to watch or earlier this week. Next support levels come at lower numbers that I will work on and update…

3x ETF Morning Report 4/4/24

Morning Reports
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Markets: 8 day correction in QQQ/MARKET normal so far
 
8 Day Banister Behavioral pullback in QQQ was overdue, and frankly still a shallow correction. Until the market breaks down below certain levels I remain bullish intermediately but again we had a huge run off…

3x ETF Morning Report 4/3/24

Morning Reports
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Markets:
 
NASDAQ 100 is off 2% this month and again normal consolidation and pullback was due from strong quarter 1. 

Bitcoin is consolidating in a 5 week range near top of prior all time highs range, so far normal as well. See chart.

3x…

3x ETF Morning Report 4/2/24

Morning Reports
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Markets:
Bitcoin dropping hard, may see 62,900 area currently 65,300 down from 69,500 late yesterday. SP 500 and NASDAQ futures are down.

I think most of this is post 1st quarter rotations as most managers were trying to hang onto paper gains in 1st quarter…

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…

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 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…

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…

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…

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 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…

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…

3x ETF Morning Report 3/19/24

Morning Reports
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I took fairly ill yesterday afternoon with a stomach virus and am trying to recover.  I will post my morning report later today than usual, around 1030am EST

Markets continue to look toppy

3x ETF Morning Update 3/18/24

Morning Reports
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SP 500 1 hour chart updated and Daily view also for reference:
SP 500 Daily Chart updated as of this mornings futures being upMarkets:     As I noted on Friday here in this section, we could still push higher.  Futures are up this morning…

3x ETF Morning Update 3/15/24

Morning Reports
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Markets:     Showing the ES (SP 500 June Futures) Chart this morning, still a valid bull structure after that 70 plus point decline from the weeks highs last 2 days. Bouncing up this morning, its a 5 day consolidation pattern that could still push higher…

3x ETF Morning Update 3/14/24

Morning Reports
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Markets:     SP 500 at 5165 on the close yesterday, 10 points off the Tuesday close as we continue to consolidate near the top of the ranges. 3x ETF Updates/Strategy:  LABU Alert adjustment/ TNA Possible alert

I put out a BUY IF alert on LABU…

3x ETF Morning Update 3/13/24

Morning Reports
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Markets:     Continue to hold up overall with likely one last push up here in March I think.  Watching 5220 on SP 500 still as a marker. See chart on SPX.  Key support comes in at the 13 day EMA line and lower at 34day…