The3xETFTrader

The3xETFTrader

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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Markets/Strategy:   

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…

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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Markets/Strategy:   

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…
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