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April 19th, 2022: IWM and QQQ Chart Update

Posted by pugsma on April 19, 2022

IWM 60-min chart:

IWM Technical Analysis

IWM daily chart:

IWM Technical Analysis

QQQ 60-min chart:

QQQ Technical Analysis

QQQ daily chart:

QQQ Technical Analysis

6 Responses to “April 19th, 2022: IWM and QQQ Chart Update”

  1. pugsma said

    Note: the alt (blue) counts have been removed from the charts.

    Now IWM must break above 212.25 and QQQ above 371.83 in order to confirm the primary (white/green) count or break below 195.88 on IWM and below 335.79 on QQQ will confirm the alt(red) count.

    The next two week are very key for the markets.

  2. pugsma said

    The QQQ 50% Fib of the 5-wave move up from 335.85 to 347.56 is at 341.70 (just hit).

    QQQ needs to turn around soon and rally above 347.56 or else it’s another failed rally and a break below 335.85 is next per the alt (red) count.

  3. jamie flynn said

    It basically all comes down to TSLA tonight. 450bps weighting in the QQQ.

    • pugsma said

      It is never is about just one stock. That’s why my TA focus for more than a decade has covered the SP500 (500 companies) and more recently QQQ (100 companies) and IWM (2000 companies).

      • Jim Guthery said

        Appears alt red will win. If indeed it becomes the path do you think it will be a sideways to down path or any chance we can just go straight down and bottom in a week or two?

        • pugsma said

          Both are possible. A bearish minor 3 of major [C] wave down can be fast, as it’s the same a bullish minor 3 of major [3] up.

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