The3xETFTrader

The3xETFTrader

3x ETF Morning Report 9.10

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Markets/Strategy:  

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…

ES Morning Report and Trade Ideas 9.9

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Update

5403 close on Friday.  This fell 40 points below my low end projection of 5440

5460 this morning in early trade bouncing back to my 5440-5480 zone

5325 is the next logical Fibonacci area to watch for a pivot and go long for a trade…

3x ETF Alert

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SOXL 26.08-  Adding 10% to a full 20% position LIMIT 24.50 , see notes

Double up beginning at 24.50 limit entry, adding to 23.50, max entry 25 after initial entry

SOX index looks to test August 7th gap lows I think as noted possible this week in my…

3x ETF Morning Report 9.6

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Markets/Strategy:  

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…

ES Morning Report and Trade Ideas 9.6

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ACTION ITEMS: 5480 profits should have been taken from 5560 entry short

We hit 5466 lows over last 24 hours, the advisory was take profits at 5480

Currently 5515 as of 9am EST

No trade yet

We are short from 5560, I still see 5480-5440 range…

3x ETF Morning Report 9.5

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Markets/Strategy:  

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

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Markets/Strategy:  

 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…

ES Morning Report and Trade Ideas 9.4

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ACTION ITEMS: 9/4 Updated from 9/3 notes... 
 
OVER 5665 GO LONG WITH 5720 TARGET
 UNDER 5560 SHORT WITH 5480 TARGET

 So we went under 5560 which is a short, our low 5507... and we can still see 5480...

Take profits at 5480 if hit... place…

ES Morning Report and Trade Ideas 9.3

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ACTION ITEMS: 9/3/24 updated same as last Friday

OVER 5665 GO LONG WITH 5720 TARGET
UNDER 5560 SHORT WITH 5480 TARGET

If they trigger I will advise on stops etc 

5630 area

The consolidation continues from 5560-5660

 


  
 

 

 

 
 …

3x ETF Morning Report 9.3

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Markets/Strategy:  

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…

ES Morning Report and Trade Ideas 8.30

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ACTION ITEM:
Stopped at 5640 for 13 point avg loss.  The trade WAS in our favor earlier this week and then faded.

The market is resilient here and the SPX looks bullish, so futures could push to 5720 now... and or higher.  I'm at 6100 on…

3x ETF Morning Report 8.30

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Markets/Strategy:  

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 Alert 8.30.24

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SOX Index-


Chip Stocks may be ready for another leg up as we wind down 3rd quarter and a favorable 4th quarter wall street starts to price in.

SOX chart can potentially rally to the 5800 gap giving us a 45% potential upside. Sounds crazy but just giving you…

3x ETF Morning Report 8.29

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Markets/Strategy:  

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…

ES Morning Report and Trade Ideas 8.29

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ACTION ITEM:
Lets move the stop lower to 5640 in the event of a rip to 5720, not expected but this reversal also was not expected

 5620 area at 745 am EST Thursday

5560 lows last night after NVDA earnings but stocks are ripping back higher…

3x ETF Morning Report 8.28

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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…

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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Markets/Strategy:  

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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Markets/Strategy:  

 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%…
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