Technical Analysis Blog | PUG Stock Market Analysis, LLC

PUG Stock Market Analysis is here to help with SP500 technical analysis, stock analysis and more. Read our technical analysis blog to learn more.

July 29th, 2019: IWM Chart Update

Posted by pugsma on July 29, 2019

IWM 4-hr Chart:

IWM Technical Analysis

IWM Daily Chart:

IWM Technical Analysis

IWM Weekly Chart:

SP500 Technical Analysis

8 Responses to “July 29th, 2019: IWM Chart Update”

  1. pugsma said

    IWM Price is coiled near the upper yellow trendline that has been in place for over 1 year.

    A break above this upper yellow trendline would likely lead to a large move up in IWM price (primary).

    A break below the lower blue trendline would likely lead to a large move down in IWM price (alternate).

    • pugsma said

      The SP500 primary wave count to play out to 3300 to 3500, the IWM MUST lead the charge higher.

    • rat8nine said

      Fascinating, thank you Steve! I was looking at iwm this weekend and thinking about how it could be the key. If it broke up, it would take traders by surprise since it’s been the weakest index. If it broke down, the negative divergence to the other indexes is quite pronounced.

  2. rat8nine said

    iwm 15 – Steve, I’ve been meaning to ask you what you make of the price action in the blue box on the second chart…

  3. pugsma said

    IWM hit the lower blue trend line at the open today.

    Coiled and ready to move…

  4. rat8nine said

    iwm 60 – this is the area that iwm needs to break through with force if it’s going to lead higher.

    160.54 – 144.81 = .886 at 158.75
    158.03 – 153.40 = 1.27 at 159.28

  5. rat8nine said

    updated iwm 60

Leave a Reply

Please log in using one of these methods to post your comment:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s

 
%d bloggers like this: