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May 19th, 2021: IWM and QQQ Chart Update

Posted by pugsma on May 19, 2021

IWM 60-min chart:

SP500 Technical Analysis

IWM daily chart:

IWM Technical Analysis

QQQ 60-min chart:

QQQ Technical Analysis

QQQ daily chart:

QQQ Technical Analysis

6 Responses to “May 19th, 2021: IWM and QQQ Chart Update”

  1. pugsma said

    Looking at the IWM and QQQ Charts after to close, it’s clear the key levels of 211.55 (IMW) and 316.00 (QQQ) held today and thus, the very bullish primary (white/green) wave counts remain intact.

    I will need to revisit an much more bullish primary (white/green) wave for the SP500 that keeps the 4057 low intact and moves much higher.

  2. pugsma said

    QQQ is attempt to break the 60-min chart down trend channel.

    IF the QQQ gets above 327.33, it’s and every sign that the primary (white/green) wave count is correct.

  3. pugsma said

    This primary (white/green) count major [4]-P1-C3 ascending triangle on the IWM is a thing of beauty. Classic.

  4. pugsma said

    So here is simple QQQ double bottom target based on the 316.00 and 316.30 double bottom yesterday and the break above 327.33 today.

    Target is 327.33 + (327.33 – 316.00) => 338.58 Just a little below the QQQ primary (white/green) target of 341.78 for minute (1) of minor 3 of major [5]-P3-C1.

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