ES Morning Report and Trade Update 6.7.24

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Thursday 6/6 Update: Sorry was ill early this morning and late getting going

ES 5362

New Trade Idea and Recap of last closed trade:

New idea-  Tranche at 5350, another at 5330 LONG... Stop 5320, Target  5400 

Recap of 35 point win trade:

 Got stopped out…

ES Morning Report and Trade Update 6.5.24

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Wednesday 6/5 update:

 ES Trade Idea: (From Tuesday morning report)

Go long again here 5275 area, add 5260.... Stop 5240.... Intermediate target still over 5400 if this pattern holds in

Update:  5318 now, we are up 43 points.  Move stop to 5310.  We did not hit…

3x ETF Trade Alerts

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 Gold and Energy

Our 2x ETF's on NUGT and ERX are dropping hard here.  We are looking to double up at certain price points and then after that scale in we will set a stop. 

NUGT - 36.25 is our limit to start a 10%…

3x ETF Morning Report 6.4.24

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Markets:  

P.S. For those who joined Tipping Point Stocks recently we have one of the two positions up 40% this morning on news of a long term contract.  A small $5,000 position would have paid for 3 years subscription. The other of the two…

ES Morning Report and Trade Ideas 6.4.24

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Tuesday 6/4 Update:

Pullback stops us out last night at 5270 after I did the update late afternoon.  We had a 5290 average on the overall 3 tranche position if you took the trade idea.

This pullback so far is normal after a ripping run off…

ES Trade Follow up 6.3.24

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Monday 6/3 Trade Update

5286 ES as of 345pm EST plus minus

The trade today was  Long at market, add at 5290, add at 5275

If you followed todays parameters it was about 5305 on 1/3, 5290 1/3, and 5275 1/3.

No Stop was set, the…

3x ETF Trade Alert

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BITCOIN

Back at it again.  BITX is a 2x Bull on Bitcoin, we use $BTCUSD on Stockcharts.com to track as one option, but you can find Bitcoin pricing all over now.

I still am looking for 81,400 eventually on Bitcoin and this multi month consolidation…

3x ETF Morning Report 6.3.24

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Markets:    

Last Friday in this column I noted 5220 was key to hold on a closing basis, which it did. The bottom was a perfect Fibonacci retracement of waves 1-3 inclusive last Friday and the rally since would seem to confirm wave 5…

ES Morning Report and Trade Ideas 5.31.24

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Friday Update

5248 update ahead of PCE Report.  5230 lows... 
Short profits would have been taken at 5245 and 5230 the low so far since...

No Trade for Friday, but next trade is likely a long position per yesterdays note.

If you want to trade wait…

ES Morning Report and TRADE 5.30.24

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Thursday Update

5266 area, 5250 lows. I said to take short profits at 5245 if you are short below 5290

Trade Ideas for Thursday

Short below 5290 with 5300 stop and take profits at 5245 area

With the flip flopping yesterday below 5300 and then back…

3x ETF Morning Report 5.30.24

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Yesterday I pushed out two new LONG TERM Tipping Point Stocks stock research ideas. In the past 18 months we have had a multitude of 50-100% plus winners during this bull market. If you are interested in these two new plays which are in the…

3x ETF Morning Report 5.29.24

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Markets:   Pulling back from May highs about 70-80 points on SP 500 (Futures) going from 5368 to around 5290 now... could pull back further yet... watching for clues

 
 3x ETF Action Items:  
  •   ERX Position is filled we will call it…

ES Morning Report and TRADE 5.29.24

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Wednesday Update

5292 area, stopped out at 5300 overnight

Trade Ideas for Wednesday:

2 charts, a 4 hour and a daily... the daily has the instructions

Long above 5290 with 5280 stop and take profits at 5330

Short below 5290 with 5300 stop and take profits…

ES Morning Report 5.28.24

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Tuesday Update

5330 area

Last advisory on Friday was you may want to add another tranche just below 5300 to average down.  5360, 5330, call it 5300.... so 5330 average

Break even now, let's push stop to 5300 from 5270

I think we can see past…

3x ETF Morning Report 5.28.24

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Markets:   Review the weekend report for updates, but I remain intermediately bullish on markets until patterns suggest otherwise

 
 3x ETF Action Items:  
  •   Getting long ERX within ranges given 64-67 for 10% position
  •   Looking to double up on NUGT, being…

Weekly Market Report now online!5.27.24

Please review the weekly market report

Market Report Link

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  • I cover the QQQ ETF long term update, Bitcoin bull projection chart... 
  • Swing Trade Ideas list for my top 10-20 stock ideas near term which we use at the stockreversalspremium.com service to drill down and pick our trade alerts
  • Quick notes on the markets and more

    SRP stock trading service  is…

3x ETF Morning Report 5.24.24

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Markets:   Markets pushing higher out of consolidation. As I noted last week QQQ can push higher and my intermediate SP 500 target moved up to 5700-5800 last week.

May look for some long positions here and likely with intra-day stops
3x ETF Action Items…

ES Morning Report 5.24.24

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Friday Update

Near 100 point drop out of the blue in the afternoon yesterday. I didn't panic, and frankly it happened so fast I did not want to over react

Long from 5360, 5330 tranches... 5300 area now

Put a stop at 5270

I think we…

3x ETF Trade Alert 5.23.24

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Energy

This sector had a strong rally that peaked in early April. Oil is in a downtrend and traders are somewhat bearish on the Energy sector now.  This is where I get interested.

ERX is a 2x Bull on Energy (XLE Underlying ETF)

I Think…

3x ETF Morning Report 5.23.24

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Markets:   Markets pushing higher out of consolidation. As I noted last week QQQ can push higher and my intermediate SP 500 target moved up to 5700-5800 last week.

May look for some long positions here and likely with intra-day stops
3x ETF Action Items…

ES Morning Trade Alert 5.23.24

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Thursday Update

5365 area

Those who follow me on various services know in early April I came out with a 5625 SP 500 2024 target , regardless of the correction in April, I did not change that. I recently increased it to 5700-5800.

This push higher…

ES Morning Report 5.22.24

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Wednesday Update

5335 flattening line here on 2 hour chart last several days

No change from yesterday I'm not quite ready to go short, I would rather go long after a 4th wave pullback or some reasonable pullback.  I don't see the risk reward trade right…

3x ETF Morning Report 5.22.24

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Markets:    Not much to add, markets consolidating some recent strong gains and buyers are still buying... could see QQQ moving higher still for a bit

 3x ETF Action Items:  BITX Sold for final profits
  •  Deleting TQQQ alert for now
  • BITX  I pushed the…

ES Morning Report 5.21.24

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Tuesday update

5329 area.  We sold at 5344 for 36 point win from 5308.  At that level we are hitting Wave 3 highs projections and now extended.  Same holds true for Nasdaq 100 its extended but could push a bit higher.

I am not a bear…

3x ETF Morning Report 5.21.24

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Markets:    QQQ Chart shows more upside to 470, hence that 68 target for TQQQ last week 3x ETF Action Items:  TQQQ/BITX
  • TQQQ doesn't look like that normal correction to 61.50 is happening
  • BITX  ripping higher, nearing 51 target from 40.40 on final 10%

Watch…

ES Trade Closed for Profits

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Monday Trade Closed... update:

5344  hit today so about 36 point scalp profit from about 5308 entry last week

Now getting a pullback, lets monitor a bit and I will advise in the morning... again, a bit extended near term
 
 ES TRADE ALERT/IDEA

From Last…

ES Morning Report 5.20.24

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Monday update:

5337 AREA, TAKE PROFITS AT 5344, STOP 5308 BREAK EVEN
 
 ES TRADE ALERT/IDEA

From Last Wednesday pre-market:
"5294 another 50 points of likely upside on wave 3 here... can take some long here at market and again at 5275 on pullback"

Update…

Weekly Market Report now online!

Please review the weekly market report

Market Report Link
  • I cover the SP 500 Long Term Chart update and forecast model
  • Swing Trade Ideas list for my top 10-20 stock ideas near term which we use at the stockreversalspremium.com service to drill down and pick our trade alerts
  • Quick notes on the markets and more

    SRP stock trading service had another great week closing out several trades for profits. We also had…

Weekly Market Report now online!

Please review the weekly market report

Market Report Link
  • I cover the SP 500 Long Term Chart update and forecast model
  • Swing Trade Ideas list for my top 10-20 stock ideas near term which we use at the stockreversalspremium.com service to drill down and pick our trade alerts
  • Quick notes on the markets and more

    SRP stock trading service had another great week closing out several trades for profits. We also had…
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