The3xETFTrader

The3xETFTrader

ES Trade Update- Stop 5660

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5648 area on ES at 1120 am EST

Spidey senses are getting a little bullish right or wrong.

Move stop to 5660 lowered from 5675 on our short position 


TRADE IDEA from Friday still alive, barely... stop is 5675

5440-5480 makes the most sense for…

3x ETF Morning Report 8.27

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Markets/Strategy:  

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…

ES Morning Report and Trade Ideas 8.26

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Friday notes repeated for reference

I see this at 5480-5440 on a 2nd wave down MINIMAL downside objectives. Maybe we saw small A wave to 5590's from 5662 Wave 1 top.... and a B bounce here, then we SHOULD have another pullback ahead.... 

Now we are…

3x ETF Morning Report 8.26

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Markets/Strategy:  

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 Alert 8.23.24

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Chip Stocks  looking for bounce up today and one more leg down potentially

These can move very swiftly in either direction via SOXS (Bear) or SOXL (Bull)

I think a bounce up on SOXL this morning COULD lead to another drop next week if the pattern plays out, but…

3x ETF Morning Report 8.23

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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

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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

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Markets/Strategy:  

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…

ES Morning Report and Trade Ideas 8.21

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ES 5630 area as of 8 am EST Wednesday, not much change from Tuesday

Trade idea from yesterday repeated:
Next move is a pullback to retrace the 5120-5640 (So far) rally

A .382 retrace would make sense, as of now if we are topping out here…

3x ETF Alert 8.20.24

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 YINN

Moving stop near close of trading day lower to 21 from 21.50 noted this morning. Currently at 21.71.

I Re-evaluated the chart pattern and decided to move it about 50 cents below our average 21.50 cost on the final 10% trade position (Sold 1/2 at 23.20 for 8%…

3x ETF Morning Report 8.20.24

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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 Alert 8.19.24

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GOLD

Gold is at 2,540 area and my long term forecast is for 3,100.  Near term can work higher yet and push GDX ETF to break out if I'm right to new highs.

NUGT is only a 2x ETF so we do not get as much upside, but I…

ES Morning Report and Trade Ideas 8.16 (copy)

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Pullback likely to 5390's?

Trade Idea:

You can short the market near 5580-5590 with a stop at 5610 and a target of 5400

5583 the uptrend high now from 5180 last pivot, possible "Truncated" 5th wave there, was a bullish omen

With that said, I didnt…

ES Morning Report and Trade Ideas 8.16

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Pullback likely to 5390's?

Trade Idea:

You can short the market near 5580-5590 with a stop at 5610 and a target of 5400

5583 the uptrend high now from 5180 last pivot, possible "Truncated" 5th wave there, was a bullish omen

With that said, I didnt…

3x ETF Morning Report 8.15.24

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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…

ES Morning Report and Trade Ideas 8.15.24

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  5515 on strong retail sales report, past my 5490

A better-than-expected U.S. retail-sales report was helping stock index futures build on their earlier gains on Thursday as investors digested a fresh batch of economic data.

Retail sales grew 1% in July, topping expectations for 0.3%…

3x ETF Morning Report 8.14.24

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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

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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 8.12.24

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Futures have risen above bounce highs of 5360 now, this means a further rally to as high as 5490 on ES futures is possible for Wave B up of A B C correction... but one day at a time, the market likes to surprise often during August-…

ES Morning Report and Trade Ideas 8.9.24

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Bottom of report repeats Thursday notes on purpose... over 5360 very bullish

ES 5340 up from 5180 lows mid week overnight, this is bullish for now as noted yesterday if over 5290's...

BUT... still at resistance...

If we get over 5360 this weeks highs, the market…

3x ETF Morning Report 8.9.24

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NOW WHAT??

There is almost always a 5th wave in a 5 wave decline that tests the lows of wave 3 or lower... on the rare cases where it doesn't, it can be a bullish sign.  With that said, we have levels to watch for everyone market…

3x ETF Morning Report 8.8.24

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5360 was hit on ES Futures on the nose yesterday , an area I said to watch. I advised members of ES trading to short at 5355, then futures fell 170 points to 5180, now 5260

This 5180 area is key support now on ES Futures (SP…

ES Morning Report and Trade Ideas 8.8.24

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5268 area 9 am EST

 Markets are behaving spot on with Elliott Wave projections I'm making this week. 5130-5150 lows, a peak prediction of 5360 hit on the nose yesterday. I advised to short at 5355 area, it dropped to 5180 last night, now its 5260…
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