PUG Stock Market Analysis, LLC | Technical Analysis Blog

PUG Stock Market Analysis is here to help with SP500, QQQ, IWM, Gold technical analysis, stock analysis and more.

  • Meta

  • Follow Blog via Email

    Enter your email address to follow this blog and receive notifications of new posts by email.

  • Subscribe

  • PUG Wave Labeling

    SCI-SCV, SCA-SCC: Super Cycle
    C1-C5, CA-CC :Cycle
    P1-P5, PA-PC : Primary
    [1]-[5], [A]-[C] : Major
    1-5, A-C : Minor
    (1)-(5), (a)-(c) : Minute
    i-v, a-b : Minuette
    Primary Count:
    White/Green (Bull Market)
    White/Red (Bear Market)
    Alternate Count: Blue

  • Categories

  • Archives

April 5th, 2022: SP-500, IWM and QQQ Chart Update

Posted by pugsma on April 5, 2022

4:35 pm EST: The SP-500 opened flat from 4582, quickly hit 4593 (day’s high), then drift lower the rest of the day to hit 4514 (day’s low) and closed at 4526.

Technical Indicators: See the SP500 vs NYMO vs VIX Chart Link: Print SharpCharts from StockCharts.com

  1. Chart Pattern: There is potential bullish IHS pattern on the SP-500 targeting 4865, a new all-time new high. There is also a potential bullish IHS pattern on the QQQ and potential bullish double bottom pattern on the IWM. 
  2. 13-day EMA vs 34-EMA vs 50-day: Aligned bullish with the 13-day EMA (4515) above the 34-day EMA (4460) above the 50-day SMA (4418) and all sloping upward.

Wave Counts: The primary (white/green) count is > 80% probable and the old alternate (red) count with the P1-C3 top at 4819 and the P2-C3 headed to 3821 is < 20% probable and has been removed for the charts (Note: A move below 4417 is required to bring this bearish alt (red) wave count back to the charts with a > 30% probability).

  1. The primary (white/green) wave count is that P2-C3 bottomed at 4115. The major [1] of P3-C3 wave is underway. The minor 1 of major [1] reached 4417. The minor 2 pull-back ended near the 88% Fib (4151) at 4158. The minor 3 wave ended at 4637, where minor 3 = 1.62*minor 1 =4646.  The minor 4 wave has reached 4508 thus, which is in the 23%/38% Fib target area of 4527 to 4455. There are couple options how this minor 4 wave can complete: 1) a triangle at 4508 or 2) a zig-zag to 4455. Once the minor 4 wave completes, the minor 5 wave up has a 1.23*minor 1 target at 4879 (new all-time high) to complete major [1]-P3.  Note: This primary (white/green) wave count is valid as long as minor 4 remains above the minor 1 high at 4417.

SP-500 15-min chart:

SP500 Technical Analysis

SP-500 60-min chart:

SP500 Technical Analysis

IWM 60-min chart:

IWM Technical Analysis

QQQ 60-min chart:

QQQ Technical Analysis

5 Responses to “April 5th, 2022: SP-500, IWM and QQQ Chart Update”

  1. pugsma said

    The Elliott Wave Theory “guideline” of wave 4 vs 2 alternation would indicate that minor 4 should be a shallow (23%/38% Fib retracement) that is a triangle or flat vs the minor 2 wave that was a very sharp zig-zag to an 88% Fib retracement.

  2. pugsma said

    Had a subscriber pay for a TSLA chart update today, so the daily and weekly charts of TSLA were updated in the 2022 CCA.


  3. pugsma said

    Nasdaq-100 insider buying is extremely high.


  4. pugsma said

    SP500 Cycle Composite (based on years 1950 to 2021) for 2022 shows that the strength ends in late April to early May, then summer weakness. Major [1]-P3 needs to break above 4635 in April before major [2]-P3 correction this summer. End of the year composite looks very strong for the major [3]-P3 wave higher.


Sorry, the comment form is closed at this time.

%d bloggers like this: