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December 2nd, 2021: SP-500, IWM and QQQ Chart Update

Posted by pugsma on December 2, 2021

5:00 pm EST: The SP-500 opened flat from 4511, had a small dip to 4505, rallied to 4595 and closed at 4577.

Technical Conditions:

  1. VIX closed back inside it’s upper BB, setting up step 2 of the VIX Sell, SP500 Buy signal. A red VIX close tomorrow is needed to confirm.
  2. The NYMO closed up from -87 to near -47. That’s a big move up and future closes back above the zero line will confirm the minor 2 bottom is in place.
  3. The $CPC (Put/Call Ratio) closed at 0.99 on Dec 1st and was at 1.08 intra-day today. $CPC closes above 0.90, particularly above 1.0, is typical of an important bottom (i.e. minor 2).

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

SP-500 4-hr chart:

SP500 Technical Analysis

IWM 60-min chart:

IWM Technical Analysis

QQQ 60-min chart:

QQQ Technical Analysis

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