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April 7th, 2022: QQQ Chart Update

Posted by pugsma on April 7, 2022

QQQ 60-min chart:

QQQ Technical Analysis

QQQ daily chart:

QQQ Technical Analysis

QQQ weekly chart:

QQQ Technical Analysis

3 Responses to “April 7th, 2022: QQQ Chart Update”

  1. Anjali Tewari said

    Thank you !,

  2. pugsma said

    FYI I needed to re-do the QQQ charts above.

    1) This pull-back from 371.83 to 348.69 is near a 50% Fib (344) of the move up from 317.56 to 371.83. Thus 371.83 has to be the top of at least minor degree wave (See #2 Below).

    2) After stepping back and looking at things from the bigger weekly chart picture. IF P2-C3 bottom at 317.56, then P3-C3 has to be in the very early stages of major [1]-P3. Since P3-C3 is likely to last 7+ years, the major [1]-P3 wave up needs to last nearly a year. That means the move up from 317.56 to 371.83 (lasting only 2 weeks) is only minor 1 of major [1]. And this pull-back is only a minor 2 of major [1] that must hold above 317.56.

  3. pugsma said

    The QQQ’s have set-up a potential bullish IHS here with head and 317.56, neckline at 370.10 and target of 422.64 (new all-time high).

    This minor 2 wave pull-back in the right shoulder. The minor 3 wave target is minor 3 = 1.62*minor 1 at 432.61. I’m expecting this minor 3 target to hit near year end 2022.

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