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May 26th, 2021: SP-500, IWM and QQQ 60-min Charts

Posted by pugsma on May 26, 2021

SP-500 60-min chart:

SP500 Technical Analysis

IWM 60-min chart:

IWM Technical Analysis

QQQ 60-min chart:

QQQ Technical Analysis

42 Responses to “May 26th, 2021: SP-500, IWM and QQQ 60-min Charts”

  1. pugsma said

    SP500 5-min chart with bull flag #2 target of 4244.


  2. MS53 said

    Do you have an IWM and a QQQ weekly chart showing your projections for P3 ?

  3. pugsma said

    Two positives on key indicators. (Need to wait to 6pm EST to be sure):

    1) NYMO looks to have closed above +10

    2) NYSE A-D Line cumulative looks to have made a new all-time high.

    #2 if confirmed should lead to SP500 close above 4231 soon.

  4. pugsma said

    It’s good to be the King! 😎


  5. pugsma said

    Note the IWM closed back above its 50day SMA for the first time since early May.

  6. william puckett said

    The NYMO being such an important indicator, I’m just wondering why the value presented by Stockcharts does not match with The McClellan Financial Publications website. There it quotes a value of 32.98 for today – 5/26/21.


  7. stevesumma said

    Just reviewing literature on sun spot activity impact on the market. BTW, Elliot was the first one to do correlations. Recessions are preceded by maximum sun spot periods. They tend to come on when the count is >50. Sun spot maximums peak at 100 or so. We are now entering a period of no sun spots. That supports the long bull case you are making. Sun spot intervals are 11 years from peak to maximum. Time to next 50 spot period is about 5 years.

  8. pugsma said

    Intra-NYMO above +20

    IWM small caps continue to lead, which is what you want in a new bull wave impulse higher.

  9. pugsma said

    Updated SP500 15-min chart.


    • Rodney said

      Thank you for posting the link in this intraday forum. Easy to find real time. I say “Yeah Baby”. BTW, intraday NYMO is +20. It would be wonderful to see it close +20.

  10. pugsma said

    OT: I have four millennial kids that are now trading the markets. Two of them have made a small fortune buying AMC and Dogecoin back in Jan/Feb. They remind me nearly everyday how good they are at trading. 🙂

  11. pugsma said

    My $BTC mining operation is growing.

    Now running a Nvidia GeForce RTX 3090, 3080, 3070 (In Open Air Rig) and 3060 (In PC).


    • pugsma said

      Combined mining Hash Rate is 292 MH/sec.

      I’ve mined 0.01 $BTC ($400) in 3 weeks as the rig has grown from 1 to 4 GPU’s.

      Running about $26 BTC per day = $9490 per year.


      • pugsma said

        The property tax on my Chicago area home is right at $10K. Even though I own this home outright, I’m sick of paying $10K/yr rent. This $BTC mine rig solves that issue!

        • fintechworklab said

          You’ve nailed the beauty of holding $btc vs. owning land/property. The carrying costs really escalate over time. I’m afraid property taxes will increase for generations to come. Bitcoin, other than being the hardest money on the planet, is the most desired and scarcest digital asset available.

    • pugsma said

      I have right at a $9000 computer HW investment in $BTC.

      So it will take a year to turn a profit IF BTC stays here at $40K or above.

      I refuse to buy or trade crypto, but I’ll mine it for the next few years and look for $BTC to go above $100K per my wave count. I could get to a $75K to $100K profit within 3 years IF $BTC moves to $100K by 2025.

      I’ll take a 10:1 return on my $9K computer HW investment. 😎

      • sk001 said

        smart.. those are great odds

      • fintechworklab said

        I work closely with several banks, federal and state regulators on digital assets and bitcoin. I don’t have any price predictions but I can’t disagree with anything you’re saying. Most people are underestimating the scope of what is happening.

        • pugsma said

          There will only ever be 21 million bitcoins.

          As of March 20th, 2021. 18,660,000 bitcoins have been mined.

          New Bitcoins are getting more rare by the day! The last Bitcoin will take infinite computing power to mine and won’t ever be completed!

  12. MS53 said

    Is this a possible rectangle the last 3 days? Top line 4213, bottom line 4182/84. Each line with 2 hits. Line break predicts up or down move of 30 points.

    • pugsma said

      Bull flag target 4244 still in play.

      IWM leading the charge. Gotta love when the soldiers are out in front of the officers!

  13. pugsma said

    So year 2021 will forever be remembered in stock market history as the incredible >1000% gains in GME, AMC and Dogecoin. The millennials and Reddit pumpers pulled off one the greatest market runs since Dutch tulip mania of 1634.

    I didn’t chart or trade any of them. I don’t lose any sleep about missing out. I do cheer for my kids to make money in them. Hopefully they will get out before they all come back down.

    I’m happy sitting on the sidelines with my 20% investment gains for 2021 versus 12% gain in the SP500. All I try to do is time the SP500, IWM and QQQ entry and exits via Technical Analysis to beat the markets.

  14. MS53 said

    red spx and red vix is very bullish ?

  15. pugsma said

    On April 22nd with F (Ford) at $11.78 my Primary (green) count major [5] = [1] target for P1 was set at 14.96. F hit 15.05 today! That’s a 28% gain in month. Not AMC type movement but good old TA projection profits!


  16. sk001 said

    seems like the indexes are pinned for tomorrows expiry. Very tight range.

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