The3xETFTrader

The3xETFTrader

Morning Reports

3x ETF A.M. Report 3.31

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Bad day on Friday, we tested the lows overnight Sunday-Monday in futures.  If this is the 5th wave down which it clearly is pattern wise, its the last leg down of this phase of the correction cycle.  Could still work a bit lower to 5400 SPX if the 5560…

3x ETF A.M. Report 3.28

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Possible cycle lows forming in the March-April window, April 17th is a key date I'm watching to see if the character of the market brightens up... 

End of quarter window dressing possible excuse for the last 1-2 days of pullback after a nice surge for the markets in latter…

3x ETF A.M. Report 3.27

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5720 gap fill on ES this morning as we topped out around 5835 from 5560 lows this week... the pullback to 5730/5720 is normal but in my opinion now requires another strong advance upwards to 5840 again or now we have risk of a 5th wave starting at this…

3x ETF A.M. Report 3.26 Wednesday

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Not much change since yesterday.  ES at 5830 still, can still work higher with QQQ etc. 

TQQQ hit my 67 mark from 60 area projection, but we are still underwater there

Bitcoin looks very bullish to me on monthly charts, so lets be patient on BITX

May add TNA…

3x ETF A.M. Report 3.25 Tuesday

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From very oversold sentiment and chart extremes , as well as cash on sidelines we are seeing a normal corrective rally to the upside.  With that said, for now clearing that 5815 zone on ES Futures now at 5830 looks more bullish for a continuation higher.   

This could…

3x ETF A.M. Report 3.24 Monday

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Nice bounce up in futures 1.20% to start the week.  Could just be 4th wave rally final stage with more more leg down, but over certain levels *(5815 ES June Contract) I get more bullish...  watching closely for clues.

Bullish 4th wave movement for now in the indexes as…

3x ETF A.M. Report 3.21 Friday

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ES futures may have hit a short term double top over last 24 hours after roughly a 200 point rally off last weeks lows.  Bitcoin also pulling back some, and futures are off this morning to the downside on Triple Witching Friday.

Again, a second push yesterday was…

3x ETF A.M. Report 3.20 Thursday

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Not much to add to yesterday's commentary. We did make a moderate new uptrend high from last weeks lows yesterday, but pulling back some overnight/pre market Thursday

Bitcoin rallied nicely high of 87,800 now around 85,200 pulling back some. BITX recovering and I'm pretty bullish intermediately here on…

3x ETF A.M. Report 3.19 Wednesday

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Light rally so far off the smash down C or 3rd wave lows last week.  ES (SP 500 Futures) 5520 lows to 5707 rally highs is not bad, can still stretch a bit higher yet but needs to push here soon. Yesterday we hit 5707 overnight and then…

3x ETF A.M. Report 3.18 Tuesday

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Markets hit a high of 5707 on ES From 5520 lows last week. Our ES service went long at 5580 late last week, still holding with stops moving higher.

SOXL rallied as projected yesterday past my SELL 20.75 Target.  From $18.30 average (Some of you lower) we profited…

3x ETF A.M. Report 3.17 Monday

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Fridays notes for reference:
5512 the new low from 6160 highs overnight, now 5580 up on a bounce this morning

5560 is now key support and 5760 is upper end resistance, see my chart.

At this point the wave C or 3 from the December/Feb highs is extended at…

3x ETF A.M. Report 3.14 Friday

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5512 the new low from 6160 highs overnight, now 5580 up on a bounce this morning

5560 is now key support and 5760 is upper end resistance, see my chart.

At this point the wave C or 3 from the December/Feb highs is extended at 185% of the length…

3x ETF A.M. Report 3.13

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Market Notes:   5600 area for ES on Thursday 915 am EST

In a small flat base pattern here for SP 500, has not really got up and ran yet so key to watch is 5560 area to hold in my opinion

ES 4 hour chart

Notes for reference repeated…

3x ETF A.M. Report 3.12

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Market Notes:   

Slightly lower move yesterday to 5535 from 5560's overnight lows the night before.  Now at 5640's... so again the 5560 zone is normally where we a get a retracement upwards, and POSSIBLY one more leg down yet after that

I see 5780 from 5535 as a…

3x ETF A.M. Report 3.11

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Market Notes:   

 "From the ES Alerts service this morning"

Market was completing 5 waves up from 3400's back in December as I had mapped out, we then tumbled hard, bounced back to test the highs... and now we are seeing the wave 3 or wave C (1-2-3, or…

3x ETF A.M. Report 3.10

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Market Notes:     New lows of the down cycle at 5675 futures overnight, from 6160 highs a few weeks ago.  I have been telling ES members to watch for 5640-5680 since last Wednesday, we may try a scalp long in this lower zone.

Did not add anything last Friday…

3x ETF A.M. Report 3.7

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Market Notes:    5720 the low so far for ES , a 440 point drop from  6160 highs. 7% correction so far. 

We are in a short term bear cycle. This is because 75% of the NASDAQ listed stocks are trading BELOW their 50 day moving average line.  This…

3x ETF A.M. Report 3.6

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Market Notes:    Likely working a bit lower yet, Futures are down again this morning to 5773, I can make a case for 5650-5680 zone for a pivot bottom... one day at a time

Updated ES:

Repeated map from Wednesday morning

 Strategy:  TQQQ  now up to 20% and BITX…

3x ETF A.M. Report 3.5

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Market Notes:   C wave goes lower than A wave length and below 5809 prior lows yesterday.

Market tried to rally but sold off some into the close. Lots of soup recipe items I use are lining up for a bottom though here in March if not any day

Some…

3x ETF A.M. Report 3.4

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Market Notes:   3/4: C wave tested in Futures, needs to hold 5800-5820 area 

Here is the C wave test I noted last Friday, testing the A wave bottom in January.

This double bottom often reverses course, but with all of the uncertainty nearly daily the market is selling first…