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April 6th, 2021: SP-500, IWM, and QQQ Chart Update

Posted by pugsma on April 6, 2021

12:00 pm EST: This is an intra-day update to align the wave counts for all three major indices (SP500, IWM and QQQ) that I track.

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP500 daily chart:

SP500 Technical Analysis

IWM 15-min chart:

IWM Technical Analysis

IWM 60-min chart:

IWM Technical Analysis

IWM daily chart:

IWM Technical Analysis

QQQ 15-min chart:

QQQ Technical Analysis

QQQ 60-min chart:

QQQ Technical Analysis

QQQ daily chart:

QQQ Technical Analysis

21 Responses to “April 6th, 2021: SP-500, IWM, and QQQ Chart Update”

  1. pugsma said

    This a detailed chart update and will only update for the SP500, IMW and QQQ for the until Thursday, April 8th.

  2. Rohan Sharma said

    What charting software are you using for these charts? It looks like TOS but don’t think it’s that.

  3. pugsma said

    Check out the IWM daily chart. MACD is just today going bull-cross after re-setting to zero line. IWM like has the most room to run higher to catch-up.

  4. Rohan Sharma said

    Maybe I am not understanding it but the 60min chart here shows minute (2) of minor 3 done at 3944. Whereas on April 5th update the 60 min chart is still in minute (1) and you say “The minute (2) pull-back will likely be shallow at the 38% Fib of 4015.”

  5. pugsma said

    PLTR Chart Updated in 2021 CCA Service.

  6. MS53 said

    Possible (1) (2), i ii start here for minor 3 on IWM ?

    • pugsma said

      I haven’t look at IWM yet today. I’m out at a mass COVID-19 vaccination site in Joliet IL. They are finally opening things up for more vaccinations here in the Chicago area.

      • pugsma said

        Well 3 hours after getting the first Moderna vaccine dose I feel almost as bad as when I had COVID-19 last November. This is really rough.

        No updates tonight. I’ll put an update in the morning before a weekend trip to see my grandkids in St Louis.

        • RAJA ROY said

          Sorry to hear that, Steve. Rest up and hope you feel better soon.

        • William Waggoner said

          Sorry to hear that. Hope you feel better soon. Good move on the vaccine though as it will provide you significantly longer lasting immunity and increased protection against variant strains.

        • WaterRock said

          Unfortunately your reaction is not uncommon. Those that have had covid-19 more often have more severe reactions. Hope it passes soon.

        • Roy McAvoy said

          Good news is that you’re probably building up lots more antibodies than those of us that didn’t have the virus beforehand and/or didn’t have much of a reaction to the shots.

  7. pugsma said

    Interesting Cobra stat tonight: 9 straight SPY daily bull bars (close > open) means 78% (7 of 9) probability of considerable higher in SPY before a correction.

    • pugsma said

      The last time in happened was the 2nd week of August 2020 and the SP500 moved up from 3350 to 3588 (+238 point = +7%). That +7% would take the SP500 from 4080 to 4370) into early May 2021.

  8. pugsma said

    Almost 3 to 1 Bulls to Bears in this weeks AAII Sentiment poll.

    Reported Date Bullish Neutral Bearish
    April 7: 56.9% 22.7% 20.4%
    March 31: 45.8% 31.0% 23.2%
    March 24: 50.9% 28.5% 20.6%
    March 17: 48.9% 27.5% 23.6%
    March 10: 49.4% 27.1% 23.5%
    March 3: 40.3% 34.4% 25.3%
    February 24: 45.9% 30.3% 23.8%
    February 17: 47.1% 27.6% 25.4%
    February 10: 45.5% 28.3% 26.3%
    February 3: 37.4% 27.1% 35.6%
    January 27: 37.7% 24.0% 38.3%
    January 20: 42.5% 23.0% 34.5%
    January 6: 45.2% 23.1% 31.7%
    December 30: 46.1% 27.1% 26.8%
    December 23: 43.6% 34.4% 22.0%
    December 16: 43.4% 30.3% 26.3%
    December 9: 48.1% 25.1% 26.9%
    December 2: 49.1% 28.3% 22.7%
    November 25: 47.3% 25.3% 27.5%
    November 18: 44.4% 29.3% 26.4%
    November 11: 55.8% 19.3% 24.9%


    • pugsma said

      VIX at 16.95, this morning so downside hedging protection has become very cheap.

      I saw that the $CPC and $CPCE put/call ratios jumped up at the close yesterday. So big money maybe starting to downside hedge with puts here.

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