The3xETFTrader

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Morning Reports

3x ETF Morning Report 9.10

Morning Reports
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Markets bouncing up in possible B wave of ABC Correction from recent August bounce highs... in English... we should be completing or working on a wave 2 pullback, once confirmed we could have a ripping rally higher... but one day at a time. I would expect potential…

3x ETF Morning Report 9.9

Morning Reports
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Strategy:   Doubling up on SOXL if we see 24.50, over 27 pre market Monday

ES Futures Link:   5325 next lower level up possible and key support
Here is a link to use 

Markets:   ES Futures up to 5460 this morning in early trade…

3x ETF Morning Report 9.6

Morning Reports
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Strategy:   Being patient on adding to SOXL, too late to sell... but we will double up hopefully near a extreme pivot

SP 500/QQQ working on normal wave 2 pullbacks still perhaps

Markets:

We hit 5466 lows on ES in last 24 hours, the ES group took…

3x ETF Morning Report 9.5

Morning Reports
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Strategy:

It's going to be volatile and difficult to project possibly until after the US Election in early November.  We could be range bound until then on the SP 500, QQQ etc.

So we will monitor daily and weekly and do the best to put out some…

3x ETF Morning Report 9.4

Morning Reports
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 Traders came back and sold everything... 

From yesterday... 
I'm leaning bullish in general... SPX could pullback to 5575 and still be fine, closed nicely at 5648 on Friday.
 Low of day was 5504, below 5575 I noted.  In the ES service I have been talking about 5480-5440…

3x ETF Morning Report 9.3

Morning Reports
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September post labor day trading begins. They say that the traders all go to the Hamptons in August so you can see those volatile August moves with light volumes as we saw last month.  This is when the institutions start getting back to work so September is…

3x ETF Morning Report 8.30

Morning Reports
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Sounds crazy but we may break out on SP 500 and QQQ is holding in.  One day at a time. Market is closed on Monday for Labor Day, see you Tuesday!
 
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ES Futures Link:  5665 uptrend high so far, we may break out to highs…

3x ETF Morning Report 8.29

Morning Reports
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QQQ ETF hit 465 yesterday but now 472.xx pre market on Thursday, so essentially holding that 470 area.  Mid August gap near 465 more or less closed yesterday and NVDA and the ES Futures are ripping back higher after overnight lows last night post NVDA earnings.

The…

3x ETF Morning Report 8.28

Morning Reports
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Markets/Strategy:  QQQ ETF pulling back to test support short  term. NVDA earnings are tonight so should be a harbinger for tomorrow.
 
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ES Futures Link:  5665 uptrend high so far, 5440-5480 possible next after we peak.
Here is a link to use 
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ACTION ITEMS:   

Double…

3x ETF Morning Report 8.27

Morning Reports
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Markets still trending near the recent uptrend highs as we prepare to roll into Labor Day Weekend and September window.   

We sold the SOXS for what was actually maybe 4-5% gains, nothing big but I missed the high of the day yesterday to send a sell…

3x ETF Morning Report 8.26

Morning Reports
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At the Mid July high here this morning on ES Futures, so market MAY be trying to kiss the 5720 July early highs of 2024 here or petering out.  September and October are usually volatile with September being year end for mutual funds as well. Lots of…

3x ETF Morning Report 8.23

Morning Reports
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We may be peaking this week on Wave 1 of 5 waves from 5120 ES Lows in August.  A pullback to 5440-5480 makes sense, low 5597 overnight, 5623 now.

ES 1 hour chart (SP 500 Futures) may have peaked Wave 1 up at 5662 the Mid July…

3x ETF Morning Report 8.22 Thursday

Morning Reports
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 Forgot to  include my wave count chart yesterday so here it is.  We are in Wave 1 of 5 of 5.... it should peak out soon maybe near the July highs.


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ES Futures Link:  5720 uptrend high could be tested? Wave 2 down comes next
Here…

3x ETF Morning Report 8.21 Wednesday

Morning Reports
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This would appear now to be a 5th wave which would eventually carry markets to all time highs, and 5900-6100 on SP 500 is possible further out on this wave.

Markets consolidating gains of late, could still have a mini pullback here soon for 3% or so…

3x ETF Morning Report 8.20.24

Morning Reports
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Markets/Strategy:  New uptrend high in SP 500/QQQ this week as markets push further up the ladder.  The gaps from the selling earlier in August are now filling on the upside. See the QQQ chart.

At this point, it would appear much of this rally followed the forced liquidation in…

3x ETF Morning Report 8.19.24

Morning Reports
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Markets/Strategy:   Futures hit 5590 resistance overnight but still near highs this morning

ES Futures Link:  5590 is the .786 retrace pivot to watch , 5390 could be a pullback point to watch also
Here is a link to use 

Basically still near resistance across the board on QQQ…

3x ETF Morning Report 8.16.24

Morning Reports
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Markets/Strategy:   Uptrend highs are meeting resistance

ES Futures Link:  5590 is the .786 retrace pivot to watch , 5390 could be a pullback point to watch also
Here is a link to use 

The ES/SP 500 hit a .786 retrace of the entire decline which is very strong…

3x ETF Morning Report 8.15.24

Morning Reports
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We pushed past my 5490 this morning on a strong retail sales report.  We will see if it holds or it's a temporary "Throwover" top.  If we keep pushing then the correction was an ABC to 5120 on ES from 5720 and a new Bull Cycle is…

3x ETF Morning Report 8.14.24

Morning Reports
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Yesterdays note repeated for reference
 I had a high end 5490 target last week for this rally leg once over 5360.  Markets happy with tame PPI report this morning. The rally leg is extending and could again be a B wave of an A B C Correction…

3x ETF Morning Report 8.13.24

Morning Reports
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Yesterdays note repeated for reference
 I had a high end 5490 target last week for this rally leg once over 5360.  Markets happy with tame PPI report this morning. The rally leg is extending and could again be a B wave of an A B C Correction…