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March 2nd, 2021: IWM and QQQ Chart Update

Posted by pugsma on March 2, 2021

IWM 60-min chart:

IWM Technical Analysis

IWM daily chart:

IWM Technical Analysis

QQQ 60-min chart:

QQQ Technical Analysis

QQQ daily chart:

QQQ Technical Analysis

3 Responses to “March 2nd, 2021: IWM and QQQ Chart Update”

  1. pugsma said

    IWM close to a bull flag breakout (above 230.23) and target of 245.83

    QQQ close to a double bottom breakout (above 324.45) and target of 338.02

  2. pugsma said

    Of course there is also a bearish pattern on the QQQ 60-min chart of a near prefect bearish head and shoulders top with the right shoulder just finishing up here around 325 to 330 max: head at 338.19, Neckline is 310.88 and target is 283.57. Agrees with alternate (red) wave count for P2 correction to the 38% Fib at 272.35.

  3. pugsma said

    There is something of a confluence between the IWM daily and 60-min charts.

    The IWM daily chart has a large IHS from the 95.69 low in March 2020, neckline at 170.56 and a target of 245.43

    The IWM 60-min chart has a small bull flag (between 230.32 and 214.81) with a target at 245.83.

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