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March 23rd, 2021: SP-500, IMW and QQQ Chart Update

Posted by pugsma on March 23, 2021

7:30 pm EST: The next few days are critical to separate the bullish primary(green)/alt(blue) counts from the very bearish alternate (red). The key levels to watch are listed on each chart for determining if the P1-C3 top is in place per the alternate (red) count. The IWM (small caps) is the closest to it’s critical level to hold of 207.21 (hit 216.03 today) and could be the leading indicator for the P1-C3 top call.

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

IWM 15-min chart:

IWM Technical Analysis

IWM 60-min chart:

IWM Technical  Analysis

QQQ 15-min chart:

QQQ Technical Analysis

QQQ 60-min chart:

QQQ Technical Analysis

7 Responses to “March 23rd, 2021: SP-500, IMW and QQQ Chart Update”

  1. Russell Bailey said

    Good update Steve, with NYMO closing at -49, does it give any clues?

    • pugsma said

      As I indicated in yesterday’s comment section, it’s unusual for the NYMO to be below -40 with the SP500 near a high (3984). It shows horrible underlying market breadth, which is a bearish indicator.

      The NYMO needs to right itself and start closing above the zero line again IF the minor 3 wave up is going to materialize.

  2. pugsma said

    SP-500 price hitting the top of the dark purple down channel now at 3938. Break above 3938, then above 3955 leads to a iii=1.62i target at 4012.

  3. pugsma said

    I have placed an initial look at the FXI (China EFT) charts in the 2021 CCA.

    I have also updated the XLE charts.

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