The3xETFTrader

The3xETFTrader

Morning Reports

3x ETF Morning Report 4/16/24

Morning Reports
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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…

3x ETF Morning Report 4/15/24

Morning Reports
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Markets:

ES Futures at 5205 Monday morning after washout late last week. I realized that Mercury is in Retrograde from April 1st until April 25th, and that my friends adds to volatility, mis-interpretation, over-analyzing, and bad decision making on behalf of humans. Those who have…

3x ETF Morning Report 4/12/24

Morning Reports
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Markets:

ES Futures at 5200, the support line this morning but flying all over the place here in April. Volatility to continue, perhaps some frustration but we are executing pretty well considering.

 3x ETF Positions/Notes:

 

  •  BITX $50.94 currently, high over 52 earlier…

3x ETF Morning Report 4/11/24

Morning Reports
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Markets:

Futures bouncing up some this morning on a calm producer price index report, vs yesterdays Inflation report which pushed everything down. 5200 on ES futures remains a key pivot, 5140 on SP 500 is another to watch, if we pierce that then a confirmed…

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