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February 4th, 2022: Quick Video Update for SP500

Posted by pugsma on February 4, 2022

SP500 Technical Analysis 2-4-22

10 Responses to “February 4th, 2022: Quick Video Update for SP500”

  1. WaterRock said

    Really appreciate the time for an update while you are on vacation. The ocean in the background has me contemplating booking a flight.
    Just an FYI – the video format has produced a gigantic Steve on my large monitor this morning! 😂

  2. Michael Kalin said

    Bitcoin unusually strong considering market is down.

  3. PHIL V said

    Thank you for the video update this morning, very helpful.
    Is there a way to receive a text alert when you email updates?

  4. PHIL V said

    Disregard the texting alert request, have it figured out.

  5. pugsma said

    The drop from 4595 to 4451 has a 62% Fib retrace at 4540. That would be minute (2) of minor A of major [Y]-P2-C3 of the primary (red). Next would be a devastating wave minute (3) of minor A to 1.62(1) at 4306. Minor A of major [Y]-P2 headed for 4223.

    Above 62% Fib 4540 the odds of the alt(blue) count get stronger, but must break above 4595 then above the falling 50-day SMA at 4619 to confirm. Minor 2 of major [1]-P3-C3 ended after 4451 at the 200-day SMA (4442). Minor 3 = 1.62*minor 1 at 5033.

    Key time and price heading into next week.

    Have a great weekend!

  6. MS53 said

    Pulling this forward from the last update:

    Pugsma said
    February 3, 2022 at 7:52 am
    A lot of TA discussion around the similarities of Oct 2018 to Jan 2022. That would be the primary (red) count now headed to a lower low than 4223.

    2022 vs 2018

    So far, similarities are eerie:

    1. Fed Rate hikes
    2. Double tops
    3. Initial drop followed by a 50% retracement

    The next couple of sessions will determine if the 2022 NQ is going to repeat the fate of 2018 NQ.

    Be open minded.

    So, found interesting narrative wrt to Fed activity in 2018.

    https://www.bloomberg.com/news/articles/2022-01-05/for-fed-taper-rates-then-quantitative-tightening-quicktake

  7. pugsma said

    Traders bought a lot of Bear ETF bought last week…

    https://twitter.com/sentimentrader/status/1489966616708321280?s=21

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