SCI-SCV, SCA-SCC: Super Cycle
C1-C5, CA-CC :Cycle
P1-P5, PA-PC : Primary
[1]-[5], [A]-[C] : Major
1-5, A-C : Minor
(1)-(5), (a)-(c) : Minute
i-v, a-b : Minuette
Primary Count:
White/Green (Bull Market)
White/Red (Bear Market)
Alternate Count: Blue
Posted by pugsma on September 4, 2019
12:15 pm EST: The large, 2-year long, broadening top pattern on the QQQ weekly chart looks nearly identical to the SP-500 weekly chart. Notice the building negative divergence in the weekly MACD. 195.55 could be the P5-C1 top or it’s possible the P5-C1 ending diagonal on the QQQ has more push up to the 198.52 area. Note: the ending diagonal maximum is at 205.48.
QQQ Weekly Chart:
This entry was posted on September 4, 2019 at 12:15 pm and is filed under Premium, QQQ. Tagged: Elliott Wave Technical Analysis, QQQ Technical Analysis. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.
rat8nine said
qqq daily and 60 – it’s clear that the 198 area is significant for qqq as an external retracement of multiple swings going back to september 2018…..today it gapped up into the .786 – .886 retrace zone, with .786 at 192.05 and .886 at 193.69. If it goes green count the red median line set gets thrown out.
On the 60, you’ll see a red circle with a blue arrow, showing how if price does not hit the median line initial target of a median line set anchored at swings with significant fib importance, it is likely going back up to the upper line, or beyond. In this case, beyond.
magenta lines are at .786 and .886 rt of the drop from 195.55