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May 10th, 2021: IWM and QQQ Chart Update

Posted by pugsma on May 10, 2021

5:20 pm EST: Both the IWM and QQQ are getting close to confirming the alternate (blue) counts. The IWM hit 219.59 and has a threshold of 215.24 and the QQQ hit 325.55 and has a threshold of 324.20 to invalidate the primary (white/green) and confirm the alternate (blue). Remember the alternate (blue) count is the year 2010 scenario.

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

9 Responses to “May 10th, 2021: IWM and QQQ Chart Update”

  1. MS53 said

    What explains the very wide variation in price levels between your charts and stockcharts on IWM? Appears to be more than just a dividend factor. But more importantly, I cannot trade the prices that appear on yours, because they don’t exist in the day to day market.

  2. pugsma said

    On IWM I see a good wave count with major [4] complying today as wave minor E of and ascending triangle at (c) = (a) at 213.63

  3. pugsma said

    Note: QQQ has a minor C=A at 320.06 and major [4] 23% Fib at 317.18.

  4. pugsma said

    Basically the point is there is a potential setup for a key bottom today.

  5. jrw said

    SPX making a lower low, while QQQ and SMH are not, potentially signaling that we are at the bottom?

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