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June 1st, 2021: SP-500, IWM and QQQ Chart Update

Posted by pugsma on June 1, 2021

2:05 pm EST: Brining the SP500, IWM and QQQ wave counts into alignment.

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

QQQ 15-min chart:

QQQ Technical Analysis

QQQ 60-min chart:

QQQ Technical Analysis

IWM 60-min chart:

IWM Technical Analysis

33 Responses to “June 1st, 2021: SP-500, IWM and QQQ Chart Update”

  1. pugsma said

    Soldiers IWM, XLF and XLE continue to lead the officers SPY, DIA and QQQ. Very constructive.

    Up/down volume on NYSE was nearly +80% today.

  2. pugsma said

    An alternate (blue) count I’ll look to explore tomorrow IF the SP500 sells off is an on-going major [4] ascending triangle that just completed a minor B wave at 4234 today. Next up is minor C wave to at least the 50%/62% Fib retrace of minor A (4057) to minor B (4234) at 4145/4125.

    • pugsma said

      The indicators of NYMO and NYSE A-D Line Cumulative say that the indexes will breakout to new all-time highs, it’s now only a matter of when, not if. Further consolidation first is still possible…

  3. pugsma said

    Here’s is the SP500 seasonality all-years over the past 20 years ended Dec 31st, 2020 from Equityclock.com.

    A couple points:

    1) The late June low is lower than the May low.

    2) From beginning of May to beginning of October the SP500 makes zero progress.

    3) October to December is very strong upward.

    https://pugsma.com/wp-content/uploads/2021/06/img_0210.jpg

    • Wayne Curtis said

      Hi Steve, maybe Cobra’s lower low then?

    • pugsma said

      Brings up the possible of the entire summer 2021 being some type of major [4] triangle or even and expanded flat. I’ll be looking into that as an alternate (blue) count.

  4. pugsma said

    I just updated the TSLA and XLE charts in the 2021 CCA

  5. pugsma said

    Just updated AAPL and AMZN charts in the 2021 CCA.

  6. pugsma said

    AMC at $47. My youngest son loaded the boat near $5. He’s made more than his years teaching salary in a few months. The kid has got it! 🙂

  7. pugsma said

    So the indices have sold off into the close 4 of the last 5 days to close near 4200.

    What do you think is going to happen today? Yep, ramp to close above 4231 per the primary (white/green).

    • pugsma said

      For past many weeks the pattern has been small drops on Mon/Tues. Wed neutral consolidation. Thurs/Fri ramp higher.

    • pugsma said

      There is also tendency to ramp into Fed meetings, which is June 15th/16th.

      The double bottom target of 4305 and minor 3 of major [5] target should be hit my mid-June.

  8. pugsma said

    Absolutely no need to update any of the charts for SP500, IWM and QQQ today. I’ll do an update of Thursday IF we get some price movement.

    Glad I spent the morning updating 5 charts in the 2021 Custom Chart Archive instead.

  9. Jim Guthery said

    Is spx getting a little deeper than the 4185 pullback target?

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