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:
- 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.
- 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.
- 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:
SP-500 60-min chart:
SP-500 4-hr chart:
IWM 60-min chart:
QQQ 60-min chart:
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