The3xETFTrader

The3xETFTrader

ES Trade Alert

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5334 area 945 am EST

 SHORT at 5355 Limit Entry, STOP 5370

No Target yet but will update

Should peak out in a 4th wave here shortly, with a 5th wave down that could re-test the 5120 lows 


 

 

 
 
 

 



 

 

3x ETF Morning Report 8.7.24

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Markets continue oversold rally or Wave 4 up of 5 down, or B of A-B-C correction

5360 key to watch on ES futures, currently 5325 area... we made huge profits twice this week going long in a bad market... bear market rallies are fun

Long TNA as…

ES Morning Report and Trade Ideas 8.7.24

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5327 area 9am EST

From yesterday
If not long or you took profits on the last trade idea, you can go long again here stop at 5225 tight

Target 5300, possibly higher and I will update...

Fresh trade yesterday again solid, I would sell here this…

3x ETF Alert

Multiple indicators across the market of 200 day moving average bottoms POSSIBLE

This includes SMH ETF (Semiconductors) IWM ETF Small Caps etc.  

CNN Fear Gauges are at "extreme fear" readings, VIX hit 60, and list goes on

So good time to take on some initial risk

TNA- Potential 15% upside from current levels in my opinion

Trade Parameters

10% position as usual, scale in if you can to get an average

3x ETF Morning Report 8.6.24

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 Key numbers to watch are 410 area on QQQ plus minus a few, 420 lows yesterday.  Also 5100 on the SP 500 key.  Charts are updated on both this morning for reference.

We had a crescendo of selling and a high VIX 60 reading, typical of short…

3x ETF Morning Report 8.5.24

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Many reasons for the current market sell off, and some things have exacerbated the drop now below 442 QQQ and 5300 SPX this morning as futures tumble
  •  Mercury is in Retrograde from Aug 4th 20 Aug 27th- This will add to confusion, misinterpretation and volatility from…

ES Morning Report and Trade Ideas 8.5.24

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Futures dropping hard, here are few bullets

5207, lows likely at 5130-5150 in my opinion for a long trade

  •  Mercury is in Retrograde from Aug 4th 20 Aug 27th- This will add to confusion, misinterpretation and volatility from a behavioral perspective
  • Japanese Yen carry trade…

3x ETF Morning Report 8.2.24

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C wave takes over after 5600 ES hits on the B wave 

Concerns over Mideast Conflict and slowing economy are the excuse but it was a much needed ABC correction

I've talked about 5300 on SP 500, we hit 5310 lows today so far. I've discussed 442…

3x ETF Trade Alert 8.1.24

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  Rough day for Tech stocks, they fell off a bunkbed. I had discussed 442 on QQQ as eventual bottom and 5300 on SP 500 and we are still well above both, but thought the bounce may push a bit higher before a retest

We are getting a SOX…

3x ETF Morning Report 8.1.24

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B wave up continues in SP 500, QQQ etc and IWM ETF is breaking out strongly.

ES service had guidance to look for 5590-5600 on ES futures this week and we hit 5598 highs so far, filling a gap above in the chart.  If ES can get…

3x ETF Morning Report 7.31.24

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Huge double bottom in both SOX Index and SP 500, QQQ etc may have hit yesterday. NVDA and AMD up big pre market, SOXL up 12% pre market from low's in 36.80-37.50's yesterday.

QQQ has not yet hit my 442, and SP 500 has not yet hit…

ES Morning Report and Trade Ideas 7.31.24

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ES 5541 interesting action...

Double bottom both on ES and SOX index yesterday is interesting

The 3x ETF service is long SOXL (3x Bull Semiconductors) because I had a 4875 SOX index target out, and it hit on the nose yesterday.  Significant because SOXL is up…

3x ETF Morning Report 7.30.24

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 Markets pulled back some more on Monday.  I have some updated "Potential" QQQ ETF and SP 500 charts.  We can still look for potential to 5300 on SP 500 and 442-445 area on QQQ (464 now).  Not necessarily in one week but over the intermediate window.  August-September-October…

ES Morning Report and Trade 7.29.24

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5516 area, high of 5534 just 16 points off my 5550 target

Still 5550 possible as guidance on this bounce.  If we can push hard 5610 area comes into view but will probably need some strong shift in sentiment or a few big earnings hits for…

3x ETF Morning Report 7.29.24

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5520 on ES Futures, I noted 5550 possible bounce last Friday when we were at 5480... tech stocks bouncing as well, many of the SRP stock swing positions are pushing up as well here.  

5610 area on ES possible HIGHER bounce point but I'm still watching…

3x ETF Morning Report 7.26.24

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Markets/Strategy:  Some set ups emerging?  

 Futures bouncing up off my 5450 targets I put out earlier this week for ES... we could push back to 5550 resistance, currently around 5480

SOX Index may have bottomed out Thursday morning right near the charting areas I gave out recently here…

ES Morning Report and Trade 7.29.24

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5516 area, high of 5534 just 16 points off my 5550 target

Still 5550 possible as guidance on this bounce.  If we can push hard 5610 area comes into view but will probably need some strong shift in sentiment or a few big earnings hits for…

3x ETF Morning Report 7.25.24

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Markets/Strategy:  GOING SLOW FOR NOW

5450 was the low so far from 5721 on ES (SP 500) overnight/yesterday.  In the ES service yesterday we were at 5560 in the morning and I said to watch for possibly 5450 if 5553 lows broke , which they did

This is still…

3x ETF Morning Report 7.24.24

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Markets/Strategy:  GOING SLOW FOR NOW 

The bounce so far off the initial drop from the uptrend highs was limited to just over a .382 retracement bounce, which is shallow. This has led to the futures down this morning, perhaps TESLA not helping pre-market.  Testing the lows now at…

ES Morning Report and Trade update 7.24.24

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5550 area as of 830am EST

A  bit drop from last night, Tesla earnings and or outlook not helping sentiment.

We stopped out at 5590 for 23 point loss, but so far avoided another 40 points below that

The upside move from 5553 lows was limited…

3x ETF Morning Report 7.23.24

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Nice bounce up in ES (SP 500 Futures) to .382 retracement or 5616 from 5553 lows of the A wave down... often you get an A down, B bounce up, then a C down to test the prior lows or lower... so loosely that is what I…

ES Post Market Updates Monday 7.22.24

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Trade stopped out unfortunately in the morning at 5575 from 5593 entry for 18 point loss on Monday.  ES then rebounded to 5607 as of 5pm EST on Monday afternoon, perhaps the stop was a little tight

I will advise if I see another set up…

3x ETF Morning Report 7.22.24

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ES Futures 5588 up 34 points this morning from 5553 lows on the pullback. Looks like a 5 wave decline from 5721 to 5556 for A wave, now B up bounce I think, fwiw... then possibly a re-test or lower C wave  yet to come

2 hour…

3x ETF Trade Alert 7.19.24

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Chip Stocks

Taking a bath and working towards a possible SOX Index 5275 pivot here. We can drop another 1.25% or 3.75% on SOXL if that pivot is correct, then possibly bounce up in a counter rally

We can try to play this with entry ranges and a tight…

ES Morning Report and Trade 7.19.24

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5580/5570 area hit and bounced a bit on Thursday. I had noted 5580 was a likely pivot point or a test which happened.  Low was 5570 and as of 6pm EST Thursday night we were bouncing to 5600... so again a possible B wave bounce up…

3x ETF Morning Report 7.19.24

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Markets/Strategy:   Further pullback to testing key areas on Thursday

QQQ tested my 477 area with 465 the other I mentioned and charted on Wednesday morning. Closed at 479, again a possible A wave low with a counter rally

SOXL fell to a low of 49.28, double bottomed and was…
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