ES Morning Update 4/8/24

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ES 5251

Key support at 5200 ends up holding for now last week after some volatile trade

5251 is below my prior 5260 stop point last week, so running up on some resistance here.

I still do not have a clear trade I'm comfortable with but stay alert if I send one out...likely a buy the…

3x ETF Morning Report 4/8/24

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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…

ES Morning Update 4/5/24

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ES 5214

Obviously the market fell out of the bunk bed yesterday almost a mini crash that I didn't see in the charts obviously. I had mentioned 5200 key support short-term earlier this week we are just above that now after hitting a 5191 low overnight. The jobs report seemed pretty normal this morning the market…

ES Morning Update 4/4/24

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ES 5298 bouncing up this morning  

Nice bounce off 5235 lows this week, now 5300.  Also noted in the 3x ETF service that the Nasdaq 100 had a behavioral 8 day correction and bouncing, so the Bulls may hang in here in April a bit.

I would go long at 5280 on a pullback with…

3x ETF Morning Report 4/4/24

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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 Trade Alert

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Biotech getting oversold (XBI ETF) but could pull back a bit further yet...

LABU at 115 as of 4/2/24 close

LABU-3x Bull Biotech- BUY LIMIT 107.50 then add... wait until 107.50

BUY IF you see 107.50, then scale in for 24 hour trading window…

3x ETF stop updates

TQQQ- 58.90 Near Close of Trading Day is the stop on this 10% position

Reason being is somewhere near there we could bounce and rally, and if we break too much below that level the potential is for a much deeper decline that will be difficult to project.

Working on TNA as well now

3x ETF Morning Report 4/2/24

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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 BITX update post close

Just a quick update on BITX

We had alerted a double up "IF" we hit $49 and as soon as $49 was hit to scale in to a max of 49.50 adding on all dips etc.

11 am EST area we hit 48.98, then again one hour late at 48.95 today

So if you followed the double up to 20% parameters, we then had opportunities from 49-49.50 off and one today, see…

3x ETF Morning Report 4/1/24

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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…

ES Morning Trade Update 3/28/24

ES 5309 - Long 5275 avg,  Target 5330 to sell, Push stop to 5295

End of quarter is today, so I am not clear on if we get a little profit taking to start 2nd quarter or we push higher.  Long term I'm now at 5645 for SPX target as  a reminder.

So lets push the stop to 5295 to protect a 20 point profit there, and otherwise if we see 5330…

3x ETF Alert Double Up

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Removing $51 near close of market protective stop on BITX

Bitcoin is pulling back and so far this is normal. After BITX hit near 55 this morning we were WAY up from 43.75 entry on 10%

As noted this morning, I was inclined to add…

3x ETF Morning Update 3/27/24

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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 Alert

This pattern in the QQQ appears bullish to me, a 13 day consolidation within a near 4 week consolidation.  If we are going to move up one more level, it's probably pretty soon.

TQQQ - 62.60

10% scale in position, Profit target is 9-15% from current levels 62.60

Parameters:

Max Entry 63 possible adds to 61.25 on dip near term
No Stop yet
Target 68.25 to 72

ES Morning Update

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ES 5294- Long 5275 avg, Stop now 5260, Target 5330 to sell

Dipped post alert to 5272-5273 yesterday inside my 5270-5277 buy tranche ranges given.

Lets leave that alone and look for 5340 possible target ranges, I would take profits at 5230 though...

Stop is…

ES Trade Alert

ES 5277

Pulling back  from 5322 Post FOMC Highs now

Recall I had suggested a short at 5280-85 or so with a tight stop at 5300 last week

Normal resistance here at 5280 area per my targets I had out several weeks ago

So how to play it?

Could still push a little higher into quarter end, my gut though is still calling for correction in April

Suspect one more push higher…

3x ETF Morning Update 3/25/24

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Markets
 
 SP 500 Futures hit 5320 area highs last week post FOMC, now about 5277 so a pullback was due. Was that an interim top? Well we hit 5261 on the SP 500 Cash and my target was 5220, so anything above that is…

3x ETF Alert

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TNAI would like to see this have a normal pullback, maybe it's early next week. 39.50 would make sense, but I do not want to be too cute trying to pick an exact bottom to wait.

Trade Parameters-  WAIT for $40, May adjust later

ES Update

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Wave 3 powers past 5280 and I tried a topping short area but stopped us out at 5300

5313 now- 1 hour chart POST FOMC Smash...
Where do we go from here?

Again this SPX chart below shows where loosely Wave 3 equals Wave 1... typical slow down point (5280 ES)
Market is extended here but in…

3x ETF Trade Alert

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Bitcoin Play- Charts below then commentary

Long Term Monthly Chart running into resistance, pullback is normal here
Weekly chart shows possible Wave 4 38% retracement after huge run, this is part of a larger 5 wave larger Wave 3...  75k target would be the lower…

ES Update and Trade Idea post FOMC

From yesterdays Trade Idea:

5199 ES Futures June

Short at 5211, Stop at 5225
Target 5161 but will update

Could push a bit higher.  Caveat is FOMC rate decision and notes are due at 2pm EST tomorrow, always a VERY volatile time to trade that I prefer to avoid, but if we get short stop is tight

Post Mortem:  We hit my 5211 entry, stopped out quickly at 5225 and then hit…

ES Update and Trade Idea

5199 ES Futures June

Short at 5211, Stop at 5225
Target 5161 but will update

Could push a bit higher.  Caveat is FOMC rate decision and notes are due at 2pm EST tomorrow, always a VERY volatile time to trade that I prefer to avoid, but if we get short stop is tight

ES Update 3/19/24

Im a bit under the weather as I took very ill yesterday afternoon. I will try to do a further update after 1030am EST today

ES did not hit my 5250 area entry to short, but now standing around 5194, topping process appears to continue

I'll have update and trade parameters out after 1030 am EST
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